Statistical Consultants Ltd


Economics and Econometrics Consulting Services

demand curves graph (a shift in demand)  graphed forecast of a time series model (with prediction intervals)

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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