Spring 2018  |  PA 8081 Section 003: Capstone Workshop -- Social Impact Financing (69586)

Instructor(s)
Class Component:
Lecture
Credits:
3 Credits
Grading Basis:
A-F only
Instructor Consent:
No Special Consent Required
Instruction Mode:
In Person Term Based
Class Attributes:
Community Engaged Learning
Topics Course
Times and Locations:
Regular Academic Session
 
01/18/2018
Thu 02:30PM - 05:15PM
UMTC, West Bank
Hubert H Humphrey Center 173
 
01/25/2018
Thu 02:30PM - 05:15PM
UMTC, West Bank
Hubert H Humphrey Center 131
 
02/01/2018 - 05/04/2018
Thu 02:30PM - 05:15PM
UMTC, West Bank
Hubert H Humphrey Center 173
Enrollment Status:
Open (5 of 12 seats filled)
Also Offered:
Course Catalog Description:
Project for external client on issue agreed upon by student, client, and instructor. Students apply interdisciplinary methods, approaches, and perspectives from core courses. Written report with analysis and policy recommendations. Oral presentation. Topics vary by term. prereq: completion of core courses or instr consent
Class Notes:
Concurrent enrollment in Capstone Preparation Workshop (PA 5080) is required. http://classinfo.umn.edu/?jtemple+PA8081+Spring2018
Class Description:

Identifying opportunities to use Social Impact Financing through a Pay for Success contract to expand prenatal or early childhood cost-effective interventions in Minnesota (Judy Temple)


State Representative Dave Pinto (from Saint Paul district 64B) and Rob Grunewald, economist at the Federal Reserve Bank of Minneapolis, are interested in investigating the feasibility of a Pay for Success (PFS) social impact financing arrangement to expand proven or promising interventions for disadvantaged children or families in Minnesota. Under a PFS financing plan, private investors would pay $5 to $20 million to expand health, educational, or human services that benefit children and yield cost savings to the state or local governments. With enough cost savings, the government partner would be able to pay back the private investors, including interest. PFS contracts specify specific performance targets that must be reached for the private investor to be paid. If a formal evaluation shows that cost savings have not occurred, the private investor does not get reimbursed.


Capstone students would identify several health or human services that could save governments more money than they cost within a fairly short time horizon of several years or less. Some candidates for PFS financing include the provision of doulas for low-income pregnant women, dental care for very young children, or proper management of childhood asthma. Capstone students will interview key informants in the medical and health insurance fields to learn about costly health outcomes or human service involvement for children that could be prevented by effective interventions. Capstone students will also seek out providers of promising interventions in Minnesota that could be scaled up and formally evaluated for their potential to generate state or local government cost savings.


The main deliverable will be a report describing promising interventions in Minnesota that benefit children and are likely to generate cost savings to governments. The report will also discuss the possibility of PFS financing to scale up these interventions.


Time and student interest permitting, another possible deliverable is the production of a preliminary feasibility study of a PFS project that (1) identifies one or more promising interventions as candidates for funding, (2) describes the roles of the various parties involved in the transaction, (3) suggests the appropriate level of government (city, county or state) that could serve as the public payer for the arrangement, (4) outlines plans for a formal evaluation of the intervention to determine whether PFS payments should be made, (5)

indicates the appropriate indicators of intervention success that will trigger the PFS payments, and (6) estimates the magnitude of the monetary payments that would be made if targets for success are reached. Students will work in smaller groups to analyze the feasibility of using PFS for various promising prenatal or early childhood interventions.


Grading:
Contact instructor for details.
Textbooks:
https://bookstores.umn.edu/course-lookup/69586/1183
Instructor Supplied Information Last Updated:
21 February 2018

ClassInfo Links - Spring 2018 Public Affairs Classes Taught by Judy Temple

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