The course is designed to cover financial appraisal of projects, cycle and sequence of project development, and static and dynamic measures of project appraisal. The students learn about the tools of project appraisal and how to apply them in economic, financial and social projects. It also introduces the rationale for social cost-benefit analysis, the concept of shadow pricing, treatment of risk and uncertainty in project evaluation, evaluates alternative approaches to project appraisal, and uses and abuses of project appraisal.