Public Policy Policy Analysis Questions
The role of cost-benefit analysis in policy analysis is to assess the potential costs and benefits of a proposed policy or policy change. It involves evaluating the economic, social, and environmental impacts of the policy in order to determine its overall effectiveness and feasibility. Cost-benefit analysis helps policymakers make informed decisions by comparing the expected benefits of a policy against its anticipated costs, allowing for a more objective evaluation of different policy options. This analysis helps ensure that resources are allocated efficiently and that policies are implemented in a manner that maximizes societal welfare.