By weighing up costs and benefits we help clients create policies that will achieve the right balance.
Economics is about using resources efficiently. We draw on sound economic principles to design effective policies. Types of policies include investments, regulatory frameworks, market-based solutions, taxation or subsidy measures, voluntary measures and behaviour change.
To aid decision-makers, we assess the costs and benefits that a policy or intervention is likely to deliver over its lifetime. We also advise on ‘what works’ by looking at policies or interventions already in place to assess their impacts and how those impacts came about. As part of these assessments – or evaluations as they are also known – we use various techniques to assess the benefits and costs compared to what might have happened without the policy.