Economic and Social impact of projects: why and how? (2235.YR.015125.1)

General information

Type:	OPT	Curs:	1,3,4	Period:	S semester
ECTS Credits:	2 ECTS

Teaching Staff:

Group	Teacher	Department	Language
Year 1	Elena Costas Perez	Economía, Finanzas y Contabilidad	ENG

Group	Teacher	Department	Language
Year 3	Elena Costas Perez	Economía, Finanzas y Contabilidad	ENG

Group	Teacher	Department	Language
Year 4	Elena Costas Perez	Economía, Finanzas y Contabilidad	ENG

This course has been designed to provide skills and competences for future leaders, entrepreneurs, and policy makers to understand the need to adopt an evidence-based approach to program and policy design, implementation and evaluation. Thus, no previous knowledge rather than the normal degree courses is required.

The course does not need a previous basic knowledge rather than the previous general courses of the program.

Lectures and work in class 15 hours
Group work 8 hours

The course contributed to the student's education by:
a) introducing the students into key concepts and skills in evaluation and assessing evidence of economic and social impact,
b) learning concepts such as the distinction between correlation and causation, the counterfactual, opportunity costs,
c) presenting techniques through which the effectiveness of social interventions can be evaluated, including randomised experiments, quantitative evaluation of non-experimental data, cost-benefit and cost-effectiveness analyses,
d) developing problem solving, application of information and communication skills,
e) promoting team work.

This course takes a policy-oriented approach towards how to measure economic and social impact of public and private projects. Why should we identify if our action is creating any impact for the society? How do we know whether a program is successful? What's the impact of that programs and how do we measure their impact and success? Not just policy-makers, social entrepreneur and impact investors have interest on that, but also any entrepreneur or future leader. Social impact is fast becoming a key issue for survival in today's global business environment. We will talk about what is the evidence, how can we decide between different programs in order to pursue the public benefit, and how can we know if we make any real contribution to society.
Exploring both intervention design and evaluation we will introduce key concepts and skills in developing and assessing evidence of economic and social impact. We will create a framework that will help future leaders, policy makers and entrepreneurs to identify interventions with high social impact, being critical assessors of evidence and published research. In order to do so we will analyze the distinction between correlation and causation, the concept of counterfactual, and different techniques through which the effectiveness of economic and social interventions can be evaluated. For example, randomised experiments (RCTs), quantitative evaluation, cost-benefit and cost-effectiveness analysis.
We will analyze the best approaches to the interventions such as the theory of change, focusing on resources, activities, outputs, short & long-term outcomes and impact. Hence, students will be equipped with some tools needed to understand evidence-based and methodologically rigorous program evaluation.
Finally, we will also introduce concepts of behavioral economics to be applied for social impact. Using cutting edge research in psychology and economics, students will be able to identify innovative solutions to significant social challenges, inducing behavior change to improve project's outcomes.

1. Session 1.- Evidence-based policy and project¿s design: unplanned effects of well-intentioned interventions.

2. Session 2.- The theory of change and the difference between results and impact

3. Session 3.- Evaluating impact I: experimental methods

4. Session 4.- Evaluating impact II: quasi-experimental methods

5. Session 5.- Behavioral economics for social impact

6. Session 6.- Group presentations

The course consists of a combination of interactive lectures and real case study presentations and a group project. During each session, the case studies and lectures will serve as the basis for working on the group project. A final group presentation on how evidence can be obtained and used will be asked at the end of the course.

Different lectures and case studies will be introduced during the course.

Group	Teacher	Department
Year 1	Elena Costas Perez	Economía, Finanzas y Contabilidad

Group	Teacher	Department
Year 3	Elena Costas Perez	Economía, Finanzas y Contabilidad

Group	Teacher	Department
Year 4	Elena Costas Perez	Economía, Finanzas y Contabilidad