New tool and guidance: A framework for economic evaluation

Today, TASO has launched a new ‘Framework for economic evaluation’ to support the higher education sector in conducting economic evaluation into its widening participation interventions.

Economic evaluation is an approach that helps to assess cost-effectiveness – in this case, the cost effectiveness of interventions in higher education.

We developed the framework to help plug a gap in the higher education sector, where there is a lack of knowledge about how to conduct rigorous economic evaluation. The framework will help decision-makers develop an evidence-based approach to assessing the long-term impacts of their widening-participation interventions.

Alongside the framework, we’ve developed a guide that outlines each step of the framework, including example scenarios. There is also a protocol template, a report template, and a spreadsheet tool.

Economic evaluation uses methods such as cost-benefit analysis to measure and compare the benefit of an intervention’s outcomes relative to its cost. For example, cost-benefit analysis could provide information about the extent to which an intervention increases a student’s future earning potential for every pound spent on the intervention.

Find out more about the ‘Framework for economic evaluation’.

Webinar

Join our online event today (11 July, 10:00–11:30) where we will be launching the new framework and guidance on conducting economic evaluations in higher education. We hope to see you there!