This module is designed to provide a comprehensive overview of the financial appraisal of projects, cycle and sequence of project development, and the static and dynamic measures of project appraisal. Students are expected to learn about the tools of project appraisal and how to apply them in economic, financial and social projects. The module introduces the rationale for social cost-benefit analysis, project evaluation, the concept of shadow pricing treatment of risk and uncertainty in project evaluation; and evaluates alternative approaches to project appraisal.