Economic Evaluation & Investment Decision Methods

Multiple Sessions Offered
Golden, Colorado, USA

March 18-21, 2024

May 13-16, 2024 (Postponed)

June 10-13, 2024

July 15-18, 2024

   November 4-7, 2024

In-person Courses

Public Course Offerings in Golden, Colorado, USA

The Before Tax: 2.5 Day Course and the After Tax: 4 Day Course are both available during the following course dates.  Note: the Before Tax Course is the first 2.5 days of the After Tax: 4 Day Course.  For any After Tax Course, you can choose to attend only the first 2.5 days for the cost of the Before Tax Course.

2024 Course Dates

March 18 – 21
May 13 – 16
June 10 – 13
July 15 – 18
November 4 – 7


2024 Course Fees

Before Tax: 2.5 Day Course……………….. $2,295.00 USD

Before Tax + After Tax: 4 Day Course……..$3,395.00 USD

Pre-Course Material

Registration for one of these public courses includes enrollment in our online, pre-course material, First Steps.  We strongly encourage participants to become familiar with this self-paced course material that introduces you to Chapters 1 – 3 of the Textbook.

Course Schedule

Before Tax: 2.5 Day Course
Taught in person, Monday through Wednesday noon.

8:00 – 12:00 Class
12:00 – 1:15 Lunch
1:15 – 5:00 Class

8:00 – 12:00 Class

Before Tax + After Tax: 4 Day Course
Taught in person, Monday through Thursday

8:00 – 12:00 Class
12:00 – 1:15 Lunch
1:15 – 5:00 Class

8:00 – 12:00 Class
12:00 – 1:15 Lunch
1:15 – 3:30 Class

Course Outline

Before Tax: 2.5 Day Course

Day 1: Time Value of Money, Discount Rates and Decision Criteria
Concepts of time value of money are developed and applied to calculating rate of return (internal rate of return), net present value, ratios and other criteria. Other topics include understanding spreadsheet functions, graphical approaches illustrating the meaning of rate of return and net present value as well as methods used to determine an appropriate discount rate. Evaluating service producing alternatives will be presented including cost analysis and incremental calculations.

Day 2: Application of Decision Criteria, Introduction to Inflation
The application of decision criterion to mutually exclusive and non-mutually exclusive alternatives will be reviewed. This discussion will also introduce related problems concerning cash flow streams exhibiting a cost-income-cost pattern and the subsequent dual rates of return and the meaning of economic results.

Day 3: Inflation, Risk, and Sensitivity Analysis
Application of inflation as it relates to escalated (or current) and constant (or real) dollar analyses will be introduced. Continued discussion on inflation will focus on understanding how this important parameter may impact the type of dollars and the appropriate discount rate in escalated and constant dollar calculations. Sensitivity analyses addressing uncertainty are explored along with an introduction to quantifying risk through expected value calculations.

Before-Tax + After-Tax (4 Days)

Day 3: After-Tax Cash Flow
Development of after-tax cash flow will focus on related tax deductions including costs that may be expensed, expenditures that are capitalized and deducted by methods such as depreciation, depletion, amortization or write-off’s and loss forward considerations.

Day 4: After-Tax Applications and Related Issues
The details of calculating after-tax cash flow and the related economics for a variety of investment scenarios will be discussed. Other topics include the impact of an investor’s financial position on economics and the handling of working capital. The conversion of before-tax operating cost savings into after-tax cash flow and the proper handling of sunk costs and opportunity costs will also be explored. We will calculate the before-tax market value of an asset by understanding the impact of taxes on the breakeven price. Breakeven and basic differences in financial versus tax reporting will also be addressed.


Visa/Invitation Letter

Any person traveling to the United States who requires a passport or invitation letter should check with the appropriate embassy to determine exactly what is necessary to permit travel to the U.S. We will be pleased to provide you with an invitation letter upon request. Request invitation letter

General information about traveling to the United States and obtaining a visa is available. Learn more…

Additional information concerning visa appointment and processing wait times is also available. Learn more…

Reminder! Acquiring a visa for entry into the United States can take several months. You should apply for your visa as early as possible.

Health and Insurance

The registration fees do not include insurance. It is recommended that all registrants consult their travel agent and take out their own travel and medical insurance prior to coming to the Symposium. The Organizing Committee cannot accept responsibility for uninsured participants.

Currency and Taxes

All transactions are based on US currency (dollars and cents). Denominations are $1, $5, $10, $20, $50, $100. Coins are 1, 5, 10, 25, and 50 cents. There are several branches of US banks within walking distance of the Symposium venue; however, it is recommended that foreign currency be exchanged at Denver International Airport upon arrival.

Information about current exchange rates is available. Learn more…

The State of Colorado assesses taxes on most services and goods, and these taxes are typically included in the price of the goods purchased. No taxes will be added to your Symposium fees.