DataNB
The latest from the New Brunswick Institute for Research, Data and Training

Cost benefit analysis, or CBA for short, refers to a consideration of the costs and benefits of taking one course of action relative to another – including taking no action at all. Increasingly, decision makers are taking interest in cost-effective, value-for-money solutions and other ideas related to economic efficiency. However, CBA is not always straightforward to apply. There are several different ways to value interventions and spending decisions that depend on context and who the decision maker is; and how to value multi-dimensional outcomes remains contentious.

In this two-part workshop, Dr. Herb Emery introduced the basic principles, tools, measures, and methods used in cost benefit analysis, including:

• The core concepts, issues, and purposes of CBA
• The four types of economic evaluation that are often applied
• The controversies over the costs and benefits of alternative approaches to measuring and valuing health outcomes

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