Service learning in a cost benefit analysis class

This paper discusses project-based learning in a Master’s class in the Economic Development Program at Murray State University. The class had eight students. Five of these students were enrolled in the graduate program in Economic Development and three of the students were enrolled in the M.S. in Economics Program. The class was diverse, having one students from China and another from Germany. Before the class started, I met with the Mayor and the management team of the city of Murray, Kentucky two times. Together we developed three projects that the students would analyze using a cost benefit analysis. The students in the class were divided up into three groups (one of 2 and two of 3). Three of the students examined whether the Downtown Fire Station should be completely destroyed and rebuilt or whether it should undergo a vast renovation. The second project, which also was completed by a team of three graduate students, was a project which used cost benefit analysis to decide whether or not the city should build a compressed natural gas filling station and convert most of the cities fleet of vehicles to natural gas. The remaining two students used cost benefit analysis to determine if the city should extend their natural gas line to serve additional homes outside the city. This paper begins with a brief literature review of service- and project-based learning. The paper then discusses the course and how the instructor and the students developed the three projects. Finally the paper reflects on how the students, instructor, and the clients reacted to the project and how the instructor suggests improving the class when it is taught next year. Insights gained from this process will be useful to others who wish to implement the same technique.