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Economic Evaluation

Economic Evaluation. Dr. Steven S. Vickner Associate Professor and Director of Graduate Programs Department of Economics Utah State University. Economic and Fiscal Impact Analysis. Input-Output Model of Regional Economy Iron county

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Economic Evaluation

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  1. Economic Evaluation Dr. Steven S. Vickner Associate Professor and Director of Graduate Programs Department of Economics Utah State University

  2. Economic and Fiscal Impact Analysis • Input-Output Model of Regional Economy • Iron county • All relevant industries (agricultural, etc) modeled using a social accounting matrix approach • Measures: • Employment • Personal Income • Value-added • Sales

  3. Input Markets -labor -capital Consumers -rural and urban -demographics Producers -hay -cattle Product Markets -dairy -beef Other Regions Circular Flow of Economy

  4. Economic Data Sources • USDA National Agricultural Statistics Service • US Department of Commerce, Bureau of Economic Analysis • US Department of Labor • Utah Department of Agriculture and Food

  5. Economic and Fiscal Impact Analysis • Leontief Inverse and Multipliers (Nobel Prize in Economics, 1973) • Economic Impacts • Direct effects • Ripple or spillover effects • Indirect • Induced • Fiscal Impacts • Local • State • Federal

  6. Asset Valuation • Water rights • Land and property values

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