Corporate Training. About London Economics. Basic Course Information Detailed information available on request

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1 COURSES Page 1 Behavioural Economics Applying behavioural and experimental economics in policy making (E) (M) Behavioural economics in the retail finance sector (E) (M) Page 2 Econometrics Introduction to Econometrics (E) Evaluation & Evidence Understanding evaluation evidence for policy-makers (E) (M) Designing evaluations for specialists theory & practicalities (E) (M) Evaluating Capital projects (M) Page 3 Finance The Basics of Accounting, Finance & Economics for Non-Financial Managers (E) Managing Public Finances (E) (M) Page 4 Finance Competitive Profitability and Shareholder Value for High- Potential Managers (M) About London Economics Corporate Training Applied Economic Training For Generalists & Specialists London Economics New West Wing, Somerset House, the Strand, London WC2R 1LA londoneconomics.co.uk London Economics is one of Europe s leading economics consultancies with extensive experience in economic and financial analysis, policy development and evaluation, business strategy, and regulatory and competition policy. Our reputation for independent analysis, and client-driven, world-class, academically robust economic research has been built up over 25 years, with more than 400 projects completed in the last 7 years. In addition to our consultancy work, our highly-qualified economists now offer on-site corporate training courses across many core and specific economic and financial topics. Training can be tailored to meet the specific needs and budget of your organization, with many courses available at both Entry Level (E) and Masterclass Level (M), as required. To discuss your training requirements, contact Richard Heys, Associate Director, , rheys@londoneconomics.co.uk Basic Course Information Detailed information available on request BEHAVIOURAL ECONOMICS Applying behavioural and experimental economics in policy making Designed for practitioners working in the area of consumer and customer behaviour. An introduction to the behavioural economics framework, how behavioural insights differ from the standard models of human decision making, and how these approaches improve policy makers understanding of individual and group decision making. Underlying principles of behavioural economics Use of behavioural economics in policy making in UK, Europe, & USA. Behavioural economic experiments: design and application Next steps and application in your organization Accounting for Oil & Gas Production Sharing Contracts (M) Page 5 Option Appraisal The Basics (E) Innovations and challenges (M) Understanding Investment Appraisal & Cost-Benefit Analysis for managers (E) Behavioural economics in the retail finance sector Designed for practitioners working in the area of finance. An introduction to the behavioural economics framework, how behavioural insights differ from the standard models of human decision making, and how these approaches improve understanding of individual and group financial decision making. Underlying principles of behavioural economics Use of behavioural economics in financial policy making in UK, Europe, & USA. Behavioural economic experiments: design and application Next steps and application in your organization

2 Page 2 London Economics: Corporate Training ECONOMETRICS London Economics is one of Europe s leading economics consultancies. Introduction to Econometrics An entry level introduction to understanding and assessing econometric evidence found in research publications across the social sciences. Understanding basic probability and statistics The Ordinary Least Squares (OLS) estimator Probit and Logit Causal inference EVALUATION & EVIDENCE Understanding evaluation evidence for policy-makers This training will equip policymakers with a critical eye for assessing the evidence base that supports a policy intervention. The focus is on empirical policy evaluation studies and involves presentations and group exercises to provide participants with an understanding of how robust policy impacts are identified in real-world situations of imperfect statistics and limited resources. Typology of evidence bases used for policy evaluation Tools used in empirical, ex-post policy evaluation Assessment of the evidence base supporting three policy evaluation studies Designing evaluations for specialists theory & practicalities This course will equip specialists who design, deliver, or contract manage evaluations with a full understanding of the theory behind evaluations and the key issues in design evaluations which can be practically delivered and which will deliver meaningful results. The focus is on empirical policy evaluation studies and involves presentations and group exercises to provide participants with an understanding of how evaluations in real-world situations of imperfect statistics and limited resources can be successfully delivered. Typology of evidence bases used for policy evaluation Tools used in empirical, ex-post policy evaluation Assessment of the key pitfalls and how to avoid them Evaluating Capital Projects Designed for managers involved in evaluating the commercial viability of capital projects. An introduction to the financial and economic tools used in commercial investment decision-making. Forecasts of revenues, relevant costs and after-tax cash flows Discounted cash flows Cost of capital Financial, economic & other decision criteria (including Payback, NPV, IRR, ROI) Probability and expected monetary value

3 London Economics: Corporate Training Page 3 FINANCE The Basics of Accounting, Finance & Economics for Non-Financial Managers Designed for non-financial managers in all sectors of the economy. An opportunity for non-financial managers to gain a broad understanding of finance, accounting and economics. The functions of the finance department and of the auditors. Fundamental accounting principles and the key financial statements. Measuring financial performance and health. Costing and pricing. Budgeting and control. Project appraisal and capital budgeting. Managing Public Finances Designed for finance or non-finance roles, this course delivers a broad over-view of the responsibilities, accountabilities and systems behind public finance and places public finances and public policy making into the economic context. The economic outlook Economic Policy making in the UK Parliamentary Control & Supply Managing Public Spending Treasury controls Total Managed Expenditure, DEL and AME Capital and Revenue The Reserve Budget exchange Treasury cash management The role of Ministers and Accounting Officers Regularity, propriety, feasibility and value for money The role of the National Audit Office and the Public Accounts Committee The FReM, FRAB & WGA Many courses are available at both Entry Level and Masterclass Level, as required.

4 Page 4 London Economics: Corporate Training FINANCE We offer on-site corporate training tailored to the specific needs and budget of your organization. Competitive Profitability and Shareholder Value for High-Potential Managers Designed for high-potential managers and executives working in private industry and commerce. A course focused on raising profitability relative to selected competitors and adding economic value. Financial evaluation of performance and health Analysis of selected annual report Stock market measures of performance Bond ratings Peer review and strategic implications Multi-industry review and lessons learnt Economic statements vs. accounting statements Calculation of capital charges Reconciling the numerous economic performance measures (including Free Cash Flow, NOPAT, Economic Earnings, Economic Value Added, NPV, IRR, Payback, Total Shareholder Returns, Shareholder Value, Market Value Added) The drivers of shareholder value Shareholder value creation or destruction by a selected corporate enterprise Accounting for Oil & Gas Production Sharing Contracts Designed for officials in government ministries of energy and natural resources and managers in international oil & gas companies. A practical guide to understanding and applying the key accounting principles and procedures and meeting the requirements of selected countries production sharing contracts. Comparison between financial accounting, joint venture and production sharing contract accounting Practical PSC accounting model and procedures Revenue allocation, cost eligibility and recovery, and profit sharing calculations Budgeting and reporting requirements Audit requirements

5 London Economics: Corporate Training Page 5 OPTION APPRAISAL Option Appraisal The Basics Successfully delivered to analysts and policy officials at the Department for Education, this course uses the HM Treasury Green Book approach to explain the core of successful cost-benefit analysis and its role in decisionmaking. Explaining the jargon Theory of economic evaluation and how various concepts tie together Inputs, processes, outputs and outcomes Impact measurement Treatment, counterfactual, and how they are generated Converting impacts into monetary values Dealing with benefits occurring long into the future Cost information collection Deadweight loss, additionality and externalities. Option Appraisal Innovation and challenges This course uses the HM Treasury Green Book approach to explain the core of successful cost-benefit analysis and its role in decision-making. Training includes interactive presentations, worked examples, a Q&A discussion session, and hands-on exercises. Explaining the jargon Theory of economic evaluation and how various concepts tie together Treatment, counterfactual, and how they are generated Converting impacts into monetary values Deadweight loss, additionality and externalities Analysis of capital projects different measures and their value Innovative benefits (e.g. catalytic benefits) The rate of return of education benefits Risk & Uncertainty European Commission Impact Assessment Guidelines approach Key similarities and differences between the UK and EC approaches Key questions to ask and common pitfalls Interpreting outputs and drawing conclusions. Understanding Investment Appraisal & Cost- Benefit Analysis for managers Designed for managers involved in submitting or approving applications for public funding of projects and for those auditing expenditures of public monies. An overview of financial and economic tools and techniques that references the guidelines and decision criteria applied by selected national and supra-national funders. Context analysis, project objectives & identification Feasibility and option analysis Financial and economic concepts, performance indicators & appraisal Common errors and pitfalls Forecasting uncertainty and risk assessment Detailed information on all courses is available on request Contact Richard Heys, Associate Director, London Economics rheys@londoneconomics.co.uk