CICA-RA Cost Benefit Analysis Module (per student)



Unlocking the key to smart financial decision-making, our Cost-Benefit Analysis module is designed to empower students with practical skills in assessing the potential outcomes of financial choices. Here’s a glimpse of what this module:

1. Conceptual Understanding:

  • Students delve into the core concept of cost-benefit analysis, gaining a comprehensive understanding of how this critical tool influences decision-making in various contexts.

2. Practical Application with Microsoft Excel:

  • The module seamlessly integrates technology by leveraging Microsoft Excel as a hands-on tool. Students not only grasp theoretical concepts but also apply them in real-world scenarios, fostering proficiency in using technology like the LEGO Robot for financial analysis.

3. Organization and Calculation Skills:

  • Through practical exercises, students hone their organizational and calculation skills. They learn how to systematically organize costs and benefits, ensuring a structured approach to financial decision-making in building the most popular LEGO Robot for the final fundraising BattleBot.

4. Cost-Benefit Ratio Mastery:

  • The curriculum places a special emphasis on the concept of the cost-benefit ratio. Students not only learn to calculate this ratio but also understand how to interpret it effectively. This skill is invaluable in maximizing profit and making informed financial choices.

5. Types of Costs:

  • Students explore the diverse landscape of costs, distinguishing between various types such as fixed, variable, direct, and indirect costs. This knowledge provides a nuanced understanding of financial considerations in different scenarios.

6. Identifying Intangibles:

  • Beyond tangible costs, students delve into the realm of intangibles with contemplating prices for each BattleBot part and selecting the cost-effective solution to their robot. They learn to identify and assess factors that may not have a direct monetary value but can significantly impact the success of a project or financial decision.

7. Four Steps of the Cost-Benefit Analysis Process:

  • Students are guided through a systematic approach to cost-benefit analysis. The curriculum breaks down the process into four essential steps, ensuring that students develop a structured and comprehensive methodology.

By incorporating real-world scenarios, practical tools like Microsoft Excel, and a focus on critical financial concepts, our Cost-Benefit Analysis module equips students with the skills and knowledge needed for sound financial decision-making. Prepare your students for a future of informed choices and financial success with our engaging and practical financial literacy curriculum.