for an example of a cost benefit analysis, see theAdministration for Children's Services

At the time, the agency was looking into modernizing their information technology, and was assessing 2 alternatives, comparing them to the status quo of an antiquated IBM mainframe system. This gives you a sense of how involved these analyses can get, and this one has benefits and costs that on the whole can be easily quantified (there is no need to put a value on lives saved, for example).

Give an example of at least one of the following, using the ACS study or one of your own:

• the difference between cost benefit and cost efficiency
• shortcomings of costing out social programs
• marginal costs
• social vs. program utility
• substitution effects
• proper discounting interest rates (and the influence of these choices)