Upcoming Events
2Jun2022

Cost-Benefit Analysis: Its Use in Society

About the Talk

Cost-Benefit Analysis is the applied arm of Welfare Economics. It is a widely used and well known tool for policy, project and programme evaluation. While historically and conventionally, Cost-Benefit Analysis targets evaluation of infrastructures’ proposals for the public sector, its use goes beyond this to the evaluation of health, transport, education, environment, and regulatory reforms.

This Talk will provide a good introduction and coverage into the scope and purview of Cost-Benefit Analysis. Specifically, it draws on the many cases and examples of its use in society ranging from conventional practices to other more seemingly difficult and challenging areas where often valuations are required for non-market goods, including valuing life, air quality, the social cost of incarceration, crimes, dengue illness, casino gaming and scenic views, and more. Cost-Benefit Analysis provides the necessary framework for efficient resource allocation.

Date: 2 June 2022 (Thursday)
Time: 4:00pm – 5:30pm (Doors open from 3.30pm)
Venue: Conference Hall, Penang Institute, 10-12 Brown Road, 10350 George Town, Penang
Speaker: Prof Euston Quah
Registration link: https://pi-cba.eventbrite.com
Admission: FREE
Note: The event will also be streamed LIVE on Facebook (@penanginstitute) and YouTube (Penang Institute).

About the Speaker

Euston Quah is Albert Winsemius chair professor of economics and director of the Economic Growth Centre at Nanyang Technological University (NTU), Singapore. He is also editor of the Singapore Economic Review and president of the Economic Society of Singapore. Professor Quah has published widely in the fields of cost-benefit analysis, environmental economics, and law and economics.

Contributing to more than a hundred publications, inclusive of academic journals and lead opinion pieces in media, his journal papers had appeared in World Development, Journal of Public Economic Theory, Applied Economics, World Economy, International Review of Law and Economics, Journal of Asian Economics, American Journal of Economics and Sociology, Journal of Environmental Management, Environment and Planning Series A and C, Bulletin of Economic Research, European Journal of Law and Economics, Journal of Economics, and Education Economics, among others. Some of his works have been selected for inclusion by the International Library of Critical Writings in Economics in the UK as well as received favorable reviews in such leading journals as Economic Journal, Journal of Economic Literature, and the Journal of Labour Economics. His most recent works have appeared in publications with Routledge Series, Springer Nature, Oxford University Press and a paper with Journal of Asian Economic Integration, a Sage publication. His textbook with E.J Mishan, now in its 6th edition (Routledge, UK, 2021), is regarded as a classic text in this subject and used by many universities and governments. It was listed for reference by the US Office of Management and Budget and also by the US Department of Transportation. The Asian edition of the Principles of Economics with Gregory Mankiw, now in its 3rd edition was released in 2021 by Cengage, and is generally regarded as a best seller text in Southeast and East Asia. Professor Quah was listed in Google Scholar Profiler in 2022 as among the top ten most highly cited university economists in the area of cost-benefit analysis in the world. In 2022, he was invited as a plenary speaker for the Annual Conference of the US Society of Benefit-Cost Analysis.

Professor Quah has had several Distinguished Visiting Appointments. Among them is a Visiting Hengyi Chair Professor at Zhejiang University, China, Distinguished Fellow at the University of Economics, Ho Chih Minh City, Vietnam, Eminent Visiting Professor at Universiti Brunei Darussalam, First Komai Fellow of the Hitachi Scholarship Foundation, Japan and Distinguished Fellow of the Penang Institute, Malaysia. He had also served as external reviewer for some economics schools in various universities in Asia, including in Malaysia, the University of Malaya, Universiti Sains Malaysia, and Universiti Putra Malaysia. He was also External Reviewer for a Bill and Melinda Gates Foundation grant project for the Overseas Development Institute, London, UK, Technical Reviewer for the Humanities and Social Sciences Research Council of Canada, Australian Research Council, and for Singapore’s National Research Foundation. Invited by Stanford University, Princeton University, the Earth Institute of Columbia University, Beijing University, Zhejiang University, Korea University, Kyoto University, University of Nottingham, UK, the US Inter-Pacific Bar Association, the UNESCAP, World Bank and the Asian Development Bank and Institute to speak at their functions and meetings, Professor Quah had also served as external consultant and advisor to Gentings International, PriceWaterhouseCoopers, Canada’s International Development Research Council and the Canadian International Development Agency. In 2015, Professor Quah was formally elected to be a member of the prestigious learned society, the European Academy of Sciences and Arts. In 2022, Professor Quah was elected as a Distinguished Fellow of the International Engineering and Technology Institute (IETI) for his outstanding, rigorous, insightful and innovative contributions in the field of social sciences. He remains as one of the most highly cited and influential academic economists in Singapore.

Formerly Vice Dean of the Faculty of Arts and Social Sciences, and Deputy Director of the Public Policy Program (now called the Lee Kuan Yew School) at the National University of Singapore and headed the economics departments at both Nanyang Technological University and the National University of Singapore, Professor Quah has been and continues to be advisor to many government ministries in Singapore. Professor Quah chaired the School of Humanities and Social Sciences at NTU. He is a member of the Social Sciences Research Council of Singapore, board member of the Competition and Consumer Commission of Singapore, and board member of the Market Surveillance and Compliance Committee of Singapore’s Energy Market Company.

In 2015, Professor Quah celebrated Singapore’s 50th anniversary with the publication of a book titled, Singapore 2065 which was then selected by the Singapore government and members of the public to be among 50 items buried in a time capsule for unearthing in 2065. His latest book, titled, Albert Winsemius and Singapore, published in 2022 with World Scientific is the first comprehensive book on the life, career and contributions of development economist and chief economic advisor to Singapore, Albert Winsemius . For his significant contributions to Singapore ‘s education landscape and for his public sector work, Professor Quah was awarded the country’s Public Administration Medal (Silver) by the Singapore government on its National Day 2020.

Registration link: https://pi-cba.eventbrite.com