Project financing and evaluation (2016/2017)

Course code
Name of lecturers
Marcella Veronesi, Paolo Pertile
Marcella Veronesi
Number of ECTS credits allocated
Disciplinary sector
Language of instruction
Secondo Semestre Magistrali dal Feb 27, 2017 al Jun 1, 2017.
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Lesson timetable

Secondo Semestre Magistrali
Day Time Type Place Note
Monday 2:00 PM - 4:30 PM lesson Lecture Hall SMT.04  
Tuesday 4:30 PM - 7:00 PM lesson Lecture Hall SMT.04  

Learning outcomes

The focus of the course is on the ex-ante and ex-post economic evaluation of projects with major impacts from the societal standpoint, for which the information provided by relevant markets is incomplete. The discussion of the theoretical background, mainly based on applied “welfare economics” will be carried on along with the introduction to the techniques typically employed to tackle practical issues in economic evaluation. Students will learn how to integrate information from financial and economic evaluations at the different stages in the project life-cycle and to assess the impact of projects in theory and practice. These issues will be also discussed with reference to EU guidelines for projects candidate to access “structural funds”.

Case studies from a variety of fields will be presented and empirical exercises with real world data will be performed in the computer lab. During the course, students will be given the opportunity to work independently on a specific case study and present it in class.


- Financial and economic evaluation in the project life-cycle
- Applied “welfare economics”: costs and benefits evaluation with market imperfections
- EU guidelines for cost-benefit analysis of investment projects (available at:
- Economic evaluation when a market does not exist
- Risk assessment
- Project impact assessment and quasi-experimentation

There is no single textbook on which lectures are based. Specific readings will be suggested during the course. However, students may find very useful consulting the following textbooks:

Reference books
Author Title Publisher Year ISBN Note
Campbell, Harry F.. Brown, Richard P.C. Benefit-cost analysis : financial and economic appraisal using spreadsheets Cambdridg University Press 2003 9780521528986
Boardman, Grenberg, Vining, Weimer Cost-benefit analysis: concepts and practice (Edizione 4) Prentice Hall 2011 978-0-13-231148-9
Khandker, Shahidur, Gayatri Koolwal and Hussain Samad Handbook on impact evaluation: quantitative methods and practices Washington, DC: World Bank 2010 978-0-8213-8028-4

Assessment methods and criteria

The evaluation will be based on a written exam (including both theoretical and practical questions). The ability to apply concepts to real world situations and the understanding of theory and methods are essential to obtain the highest marks.

Statistics about transparency requirements (Attuazione Art. 2 del D.M. 31/10/2007, n. 544)

Data from AA 2016/2017 are not available yet