Free Essay on 5 Paragraph Essay Outline Template

Economic Essay on Economic Impact Analysis versus Cost Benefit Analysis

Economic Impact Analysis versus Cost Benefit Analysis

 

The purpose of this paper is to analyze Economic Impact Analysis (EIA) and Cost Benefit Analysis (CBA) for a sporting event of medium size. EIA presents basic information on gross money streams while CBA provides a reasonable overview that is more precise on the exact profits and benefits. It is because of this reason that sports economists have a preference of CBA over EIA. The major purpose that led to use of medium sized event in medium-sized city was reduction of the likelihood of occurrence of over-estimations while carrying out application of EIA. Both techniques had their challenges though initially, use of EIA appeared simpler. This is due to the fact the technique applies primary data which is collected with great ease and can be uses input output models already in existence. Nonetheless, assumptions of the models rarely get disclosed.

Despite the fact CBA is a much favored alternative, undertaking complete CBA is extremely difficult due to the quantity of information it requires. For this reason, simple net profits computation was presented with the information available. A couple of assumptions regarding opportunity costs were also made. The paper also elaborates on numerous benefits and expenses that were not taken into consideration since the figures on the components are not found easily. The question on whether the exceptions counteract themselves of not even answered. However, benefits and expenditures were acknowledged clearly in CBA. Ultimately, what is important is not definite numbers computed through both techniques but rather the comparative difference between the end results. Although both techniques had their fair share of challenges, CBA is advantageous as it recognizes net benefits that are connected to hosting of sport events.

 

Posted by:

admin

Related articles

list of articles

Categories

RSS RSS FEEDS

  • Sample Essay on SWOT Analysis of The Home Depot January 20, 2016
    SWOT Analysis of The Home Depot SWOT analysis of The Home Depot is among the best tools used by the home improvement retailer to gauge its ability to stay afloat and profitable in the market. Although it is considered the largest home improvement retail chain in the world with an estimated revenue base on more […]
    admin

ARCHIVES

Latest News From Blog

Check out Our Blog's assignment samples and tips on how to Write Assigments
Essay sample on the Effects of Cold War on Soviet Union..

Effects of Cold War on Soviet Union The Soviet Union was one of the main participants in the Cold War. It was engaged in the war with the USA and - See more

Essay sample on Effects of Cold War on Asia

Effects of Cold War on Asia Tensions of the Cold War began shifting from Europe to Asia in 1949 when Mao Zeodong proclaimed the birth of the ...Read More

Sample Essay on United Kingdom Healthcare System

United Kingdom Healthcare System United Kingdom healthcare system, also known as the National Health Service was established...Read More

Back to Top