Economics
and Econometrics Consulting Services
Economics Consulting Services
Statistical Consultants Ltd can provide a variety of
economics consulting services including:
- Business strategies – These would based on
microeconomics
and macroeconomics and would take into account factors such as
competition, the
product/service, the current economic climate, market trends, the
target market
etc.
- Public policy advice – What
are the short term and long term costs and benefits of a proposed
government
policy? What
improvements can be made to
the proposed the government policy?
- Economic impact studies – Estimates of how
much money (or
some other measure) a particular policy, event, industry, firm or
activity adds
to the local or national economy, and how it contributes to the economy
(e.g.
direct spending, employment created directly or indirectly, spin-off
benefits
for other industries etc).
- Cost-benefit analysis, SWOT analysis and feasibility
studies.
Econometrics Consulting
Services
Econometrics is the application of
statistical analysis
techniques (especially regression modelling and forecasting) to analyse
economic data.
The applications of econometrics include:
- Demand and supply modelling - What
statistical
model is a good approximation of the demand and supply
curves for a particular good or service?
- Price sensitivity analysis - What
is the price elasticity of demand (the % change in quantity
demanded given a 1% change in price)?
What is the cross-price elasticity of demand
between one good / service
and a compliment or substitute of that good / service (the % change in
quantity
demanded given a 1% change in the price of the other good)?
- Forecasting
- sales projections, revenue forecasting,
macroeconomic
forecasts etc.
- Financial mathematics
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