Rationale:
Safety, Health and Environment makes use of economics in appraising the costs and benefits of its interventions and in understanding the wider economic context for health and safety. HSE economists work with other analysts on impact assessments of proposed interventions and evaluations of those which have been implemented; advising on the costs of injuries and ill health; and conducting research to strengthen the evidence base.
Learning Outcomes:
· Understanding the link between OSH and economics
· Understand the environmental economic concepts
· Understand the concept of cost-benefit analysis
· Ability to advise employers on the business case for SHE
Duration:
2 weeks
Teaching Methods
Modified lecture, individual & group assignments and presentations, videos, case studies and Problem based learning.
Assessment:
Continuous assignments/practicals [40%], and final examination [60%].
Course Content:
· Introduction to OSH economics
· Environmental Economic concepts
· Direct and Indirect Costs
· Business case for Safety and Health
· Lifecycle Costs
· Evaluating the costs and benefits of improving the work environment
· Health and QALY
· Human Capital dynamics [recruitment and turnover, absenteeism, well-being and productivity]
· Cost Effective analysis
· The Demand and Supply for Health and Safety Services and Equipment
Study Material:
1. Agarwal, A & Xu, Y. 2014. Cost-Effective Technologies for Recycling of Wastewater: Cost-Effective Technologies, Wastewater Recycling.
2. Asbury, S. 2018 Health and Safety, Environment and Quality Audits: A Risk-based Approach
3. Boardman, A. E. & Greenberg, D.H. 2018 Cost-Benefit Analysis: Concepts and Practice
4. Chang, H-J 2014. Economics: The User's Guide
5. Coskeran, T 2019. Economics: A complete Introduction
6. Dhillon, B.S. 2017 Life Cycle Costing for Engineers
7. Erickson, K. H. 2016. Environmental Economics: A Simple Introduction
8. Farr, J.V. & Faber, I. 2018. Engineering Economics of Life Cycle Cost Analysis
9. Hanley, N & Shogren, J. 2019. Introduction to Environmental Economics
10. Jones, A.M. & Rice, N. 2012. Applied Health Economics.
11. Marburger, D & Paterson, R. 2013. Economic Decision Making Using Cost Data: A Guide for Managers
12. McCulloch, D. 2021. Valuing Health in Practice: Priorities QALYs and Choice: Priorities QALYs and Choice
13. Mishan, E.J. 2020. Cost-Benefit Analysis
14. Petermans, A & Cain, R. 2019. Design for Wellbeing: An Applied Approach.
15. Reddy, V.R. & Kurian, M 2014. Life-cycle Cost Approach for Management of Environmental Resources.
16. Reniers, G.L.L. & Van Erp, N. 2016 Operational Safety Economics: A Practical Approach Focused on the Chemical and Process Industries
17. Schneid, T.D. & Schneid, S.L. 2019. Human Resources and Change Management for Safety Professionals
18. Thampapillai, D. 2019 Environmental Economics: Concepts, Methods and Policies
- Lecturer: Joseph Onyango