Scott Farrow's Lecture

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October 18th, 4:30PM, Clark 507

All Graduate Students and Postdocs are welcome to attend the next Marine Policy Discussion Group meeting, on October 18th, starting at 4:30PM, in Clark 507, with the invited lecturer, Scott Farrow.

Scott Farrow is Professor and Chair of the Department of Economics at the University of Maryland, Baltimore County. Previously Dr. Farrow was chief economist at both the Commission on Environmental Quality, and the Government Accountability Office. Dr. Farrow will be giving a talk on his experience in the real world of policy. In the previous two lectures, we’ve learned about the basic economics and ethics of policy decisions, and this coming lecture will expose us to how complicated things get in the real world.

Given the success last time, after the lecture we’ll again be taking Dr. Farrow out to dinner at the Chappaquoit Grill. Please RSVP to Gareth at by Friday if you’d like to join us for this free dinner.

Please try very hard to come!

Dr. Farrow has also suggested some readings, which he will be using as starting points in his lecture. Some of the readings are quite long, but he doesn’t expect us to read the whole things necessarily - several of them have executive summaries, or can just be skimmed for general content.

The readings are:

1. Office of Management and Budgets’ Circular A-4, which sets out the current guidelines for federal agencies using benefit-cost analysis to evaluate a regulation.

2. A General Accountability Office document on Economic Performance, giving the results of a workshop on measures of economic performance.

3. Lave, L. “Benefit-Cost Analysis: Do the Benefits Exceed the Costs?”

4. Hoagland, P. and S. Farrow. “Planning vs. Reality: Political and Scientific Determinants of Outer Continental Shelf Lease Sales.”


Gareth and Jon


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Last updated October 11, 2005
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