Critically assess the role of Cost-Benefit Analysis (CBA) in the Economic Impact Assessment of major development projects. Your answer should explain how CBA is applied, including how environmental and social costs are valued, and discuss at least

1. Introduction 2. Overview of Cost-Benefit Analysis 2.1 Definition and Purpose of CBA 2.2 Historical Development of CBA 2.3 Key Components of CBA 3. Application of CBA in Development Projects 3.1 Identifying Costs and Benefits 3.2 Quantification Techniques 3.3 Discounting Future Values 4. Valuation of Environmental Costs 4.1 Methods for Environmental Valuation 4.2 Challenges in Valuing Environment 4.3 Case Studies on Environmental Valuation 5. Valuation of Social Costs 5.1 Social Impact Assessment Techniques 5.2 Incorporating Social Justice in CBA 5.3 Examples of Social Valuation 6. Critiques of Cost-Benefit Analysis 6.1 Limitations in Economic Assessments 6.2 Ethical Considerations in CBA 6.3 Technical Challenges in Implementation 7. Enhancing CBA Effectiveness 7.1 Integrating Multi-Criteria Analysis 7.2 Stakeholder Engagement in CBA 7.3 Innovations in CBA Methodologies 8. Conclusion and Future Perspectives 8.1 Summary of Key Findings 8.2 Implications for Policy and Practice 8.3 Directions for Future Research