MSc in Economic Decision and Cost Benefit Analysis (EDCBA)

EDCBA is a Master of Science (MSc) in the economic calculation for investment decisions, applied to sectors of the economy currently in full expansion: planning, energy, environment, health, digital transformation.

It responds to a real need among firms and administrative organizations for the economic assessment of investment projects. It puts together the academic excellence of degrees offered by the École des Ponts ParisTech with the innovative approach taken in courses accredited by the Paris School of Economics.

This program is open to students and young professionals who hold a Bachelor, Master 1 or 2 degree in economics, statistics, or mathematics, from a University, a Grande école, an Engineering school, or a Business school.

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Prepare yourself for the future!

What is the Cost-Benefit Analysis (CBA)?

CBA is an analytical tool to be used to appraise an investment decision and judge its socio-economic advantages or disadvantages in order to assess the welfare change attributable to it. CBA compares a scenario with-the-project with a counterfactual baseline scenario without-the-project, which is what would happen in the absence of the project or in a business-as-usual situation. CBA expresses all the costs and benefits of a project or intervention in monetary value and aims at answering two questions: firstly, are the benefits of the project for the society higher than the costs and if so, by how much? And secondly, among the solutions considered, which one is the most desirable?

Why join the EDCBA Master’s program?

The MSc EDCBA responds to a real need among private and public entities: the tools and methods taught in the program enable each student to appraise investment projects and policy and to make a valuable contribution in the decision–making process. These skills are particularly looked for in various innovative sectors, such as digital transformation, energy, environment, etc. The MSc EDCBA is a 12-month professionally-oriented program, fully taught in English, where students have to opportunity to put into practice their courses during the Capstone project and the 4-month internship (min.).

Key-skills that you will acquire

• Data analysis
• Project management
• Projects appraisal
• Structured finance

An innovative Master of Science

A resourceful partnership

The EDCBA master’s degree is accredited by the Conférence des Grandes Ecoles and is the result of a collaboration between two renowned institutions

• École des Ponts ParisTech – Ranked 3rd among the French engineering schools
• Paris School of Economics – Ranked 1st among the European economic research institutions

Institutional partners

• KPMG
• Secrétariat général pour l’investissement (SGPI)

Capstone projects partners (2018-2021)

• Autorité de Régulation des Transport (ART)
• Citizen
• EDF-ENR
• Engie
• Hospinomics / AP-HP
• Lime
• Mairie de Paris
• Renault
• Transdev

Sam Lion / pexels

Curriculum

The EDCBA program is fully taught in English and designed for students and young professionals who hold a Bachelor, Masters 1, or 2 degree. It offers a strong theoretical background, taught by leading researchers and professionals while being resolutely professional orientated thanks to the Capstone project and the 4-month internship. The courses take place on the Campus Jourdan of the Paris School of Economics, in the South of Paris.

From September to March: Expand your knowledge

Core courses - A multidisciplinary approach at the heart of the EDCBA program

Economics: evaluating a project (or any asset), including externalities, and understanding its contribution to value creation in an environment dominated by high uncertainty.

• Cost-Benefit Analysis
• Econometrics and Data Analysis
• Industrial Organization & Regulation
• Macroeconomics
• Risk and uncertainty

Management: identifying the potential implementation issues and using the relevant management techniques (organizational analysis, sociology).

• Investment Decision
• Innovation & Intangible Asset Evaluation
• Organizational & Managerial Practices

Finance: structuring the financial resources, mobilizing the adequate instruments (equity, debt, hybrid) on the basis of sophisticated valuation and modeling techniques;

• Project Finance & Corporate Finance
• Structured finance

Field courses

All field courses are compulsory since the objective is to provide EDCBA students with general training on projects appraisals methodologies and cost-benefit analysis which can be applied to any sector, rather than to specialize in a more specific one.

Capstone Projects, a professional mission

The Capstone project is a 72-hour mission, conducted under the supervision of a member of MSc EDCBA faculty staff, and an experienced professional from the industrial sector, or a guest lecturer. It offers a unique opportunity to learn from experts how to manage and deliver a consultancy mandate.

From March to August: build your professional experience

4-month internship - The internship is an excellent opportunity for students to put into practice what they have learned over the past year. In addition, the MSc EDCBA staff proactively proposes internship offers to the students.

Where do the students do their internships? Société Générale, Citizing, OECD, Engie, Deloitte Montréal, etc.

Career Prospects

EDCBA promotes dialogue between scientific research and new professional practices. It aims at training executives working in private and public sectors in jobs related to project evaluation and management. In this area, the demand for highly skilled executives is significant (consulting firms, banks, large industrial firms, government agencies, energy providers, regulatory authorities...), but these firms look for managers and analysts able to deal with complexity and multiple stakeholders, rather than pure specialists.

Skills acquired

Upon graduating from the MSc EDCBA program, students will have a solid knowledge of the central concepts, theories, and research methods of economic evaluation as well as applied skills.

In particular, you will be able to:

• Carry out investment economic evaluation analysis in various fields through advanced analytical techniques.
• Design investment strategies and manage infrastructure projects.
• Assess the suitability of each evaluation method according to the sector, available data, and purpose of the evaluation.
• Apply computational and statistical methods to analyze data and to manage databases.
• Report results in a clear and understandable manner to support decision-making.

“Economic evaluation and cost-benefit analysis require both analytical skills and knowledge on practical implementation. This new Master's program carried by two institutions of academic excellence will train the needed experts while helping them to diffuse among public and private actors the economic evaluation’s culture and know-how.” Roger Guesnerie, Professor of Economics, Collège de France - PSE

Career prospects

The MSc has received the strong support of large organizations, public and private, which provide internships and expressed the will to reinforce skilled staff ready to face a fast-changing economic and financial world.

A dedicated Career Center helps students find an enriching internship program with the help of the Master’s Sponsors, as well as make informed decisions about career goals and opportunities related to their professional objectives.

Taking advantage of the Alumni network of the Paris School of Economics and the École des Ponts ParisTech, the MSc EDCBA attracts several leading companies, agencies, public institutions to deliver presentations. This provides interactions and exposes our students to their potential employers.

The skills acquired enables students to work in Europe and abroad in:

• Construction, IT, health, energy, water, real estate, natural resources industry
• Financial institutions and Banks
• Investment Funds for Infrastructure
• Development Banks or equivalent
• Leading consulting firms
• Assistant to Contracting Authority (ACA) firms
• Public sector institutions and administration

Buro Millennial / pexels

Requirements and Applications

The MSc EDCBA - entirely taught in English - is designed for new and recent graduates holding a 4-year bachelor’s degree (or equivalent). Candidates with more than three years’ work experience will be considered on a case-by-case basis. Admission to the EDCBA program is very competitive and the selection committee pays close attention to all aspects of your application.

Requirements

Undergraduate degree: The master EDCBA is open to candidates holding a 4-year bachelor’s degree (or equivalent) in Engineering, Economics (with high quantitative skills), Mathematics, or Statistics.

GMAT or GRE score (optional): Admitted students usually have a quantitative score in the 90th percentile, verbal score in the 80th percentile, and analytical writing score is at least 5.

Work experience: It is not mandatory to have any full-time work experience prior to applying to the program. However if you have any relevant experience, either full-time or via an internship, this will be considered as part of your application for the program.

References: Two academic or professional references submitted via the application website. If you are in the process of completing a degree program, one reference should be from your current institution.

English language test: A test of English as a Foreign Language (TOEFL) or International English Language Test Scheme (IELTS) must be taken, and all minimum scores met (unless eligible for a waiver) if either your first language is not English or you are not from a majority English speaking country, as defined by the UK Visas and Immigration office.

Scholarships & financial support program

EDCBA has a scholarship program dedicated to the admitted candidates. The selection will be based on the quality of the application file and on the candidate’s financial resources. The procedure to apply to the scholarship program will be given upon acceptance.

However, the amount of the scholarship does not cover the total fees of the EDCBA program. Students are thus invited to apply to other means of funding at the same time.