5.5 Distinguish a prospective (ex ante) and a retrospective (ex post) application of BCA. 5.6 What do we mean by incremental analysis for the conduct of BCA? 5.7 Why is the story of "Mice in Council" important for this chapter? 5.8 Describe and explain each of the ten steps for conducting a BCA. 5.9 What do we mean by discounted net present value and why is it important to measure for informing policy debates? 5.10 What is 'cost effectiveness,' and how is it different from benefit cost analysis? 5.11 What is the biggest limitation of 'cost effectiveness' analysis? 5.12 What is the aim of environmental impact analysis and what are its advantages and limitations compared to BCA and cost effectiveness analysis? 5.13 What are four advantages of BCA compared to other methods to assess natural resource programs? 5.14 What are four disadvantages of BCA compared to other methods to assess natural resources programs? 5.15 Be sure you can do homework 5 with new data