This document provides information about an infrastructure economics training program presented by SMART's Professor Henry Ergas and Dr. Mark Harrison. The two-session course covers issues in project evaluation in the presence of market distortions, including measuring welfare changes, shadow pricing, and optimal pricing and taxation. Session 1 focuses on the economics of second best analysis and applications like congestion charging. Session 2 uses case studies to examine wider economic benefits related to transport and telecommunications. The event will help professionals understand challenges in infrastructure economics and provide networking opportunities. It will take place on October 25, 2012 in Canberra, Australia.

1. INTEGRATED INFRASTRUCTURE PLANNING
AND MANAGEMENT
CONNECT: SMART EXECUTIVE DEVELOPMENT
PROJECT EVALUATION IN THE SESSION 1
PRESENCE OF MARKET DISTORTIONS Foundations: the economics of second best
analysis:
Whether you develop, manage, invest or
· Measuring welfare changes: the role of
regulate you need to be equipped with the
lump sum taxes and compensation
latest thinking, skills and tools on
infrastructure economics. · Measuring welfare with existing distortions
This program has been developed by SMART’s · Shadow pricing project inputs and outputs
Professor of Infrastructure Economics, Henry · Marginal deadweight cost of taxation
Ergas, and Senior Research Fellow, Dr Mark
· Optimal pricing and taxation
Harrison. It is designed to meet the needs of
public servants, infrastructure decision makers Applications: the double dividend argument,
and industry professionals in both the private congestion charging and labour supply,
and government sectors who value keeping up commodity taxes.
to date with the latest thinking. SESSION 2
This course covers material vital to the Case studies: This session will cover ‘wider
economics of public policy and covers issues economic benefits’, with applications to
that are of great importance in project transport and telecommunications.
evaluation and cost-benefit appraisal but are
This event provides an opportunity to
often poorly understood. These issues include
understand some of the major challenges
those that arise from distortions to market
in infrastructure economics and
prices due to taxation, monopoly power,
policy and provides a great chance to
externalities and unemployment.
network with other professionals in the field.
Starting from the core economic principles,
DATE/VENUE
the course explains how to deal with those
distortions and provides case studies that 25th October 2012 at Deloitte, 8 Brindabella
illustrate techniques and pitfalls. Circuit, Canberra
Professor Henry Ergas Dr Mark Harrison
For registration and enquiries, visit www.smartmasterclass.com or email smart-facility@uow.edu.au
UOW CRICOS Provider No: 00102E