Economic Consultancy
Lawrence Consulting provides economic advice across a wide range of issues:
Market design and analysis: including project feasibility and impact analysis
Lawrence Consulting has extensive experience in the analysis of industry structures, particularly through the development of a
Gross Regional Product (GRP) model, which estimates the economic contribution of 17 separate industry sectors
(and subsequent industry sub-sets) to regional economies across Australia.
Lawrence Consulting has completed significant analyses, including feasibility studies, economic impact assessments, industry appraisal and cycle analysis, and economic development strategies specifically for the agricultural, manufacturing, retail, tourism / accommodation, banking, construction, property, transport, health and education industries.
The analysis completed above typically includes:
- Structured market analysis and economic assessments
- Competition assessment and analysis
- Supply and demand analysis
- Due diligence
- Feasibility Studies (launch of new products and services, new markets approach, etc.)
- Business strategies and plans
- Survey research
Economic impact assessment: measuring how a business, industry or project contributes to economic performance
Lawrence Consulting’s impact studies assess the contribution of a particular sector, company or investment project to the economy as a
whole, at a regional, national and sometimes global level. Our economic impact studies typically quantify the total economic impact via four channels:
- Direct impacts - such as the employment, output and fiscal contributions generated by the sector/company itself
- Indirect impacts - employment and output supported by the sector/company via purchases from its supply chain
- Induced impacts - employment and output supported by the spending of those employed directly or indirectly by the sector/company
- Catalytic or spillover impacts - the extent to which the activities of the relevant sector/company contribute to improved productivity and performance in other sectors of the economy.
Economic development strategy: advising on the design, impact, implementation and evaluation of regional development policies
Macro and sector forecasting: using the rigorous framework provided by our unique suite of models
Our sectoral work, covering detailed analysis of sectors and sub-sectors, dovetails with this macro background. We also have a range of
models to analyse regional and local-area economic issues. Forecasts have been used to support a wide range of aims including cluster-based economic
development strategies and medium-term scenario planning.
Business and product market: translating economic forecasts into forecasts for key markets and metrics
Regional analysis: analysing the dynamics of regional economies
Opportunity and risk assessment: modelling, monitoring and assessing the risks associated with individual economies and sectors
Business engagement and surveying: design, delivery, collation, analysis and presentation of specific survey instruments for market research purposes
- Business confidence and outlook surveys
- Industry surveys
- Competitor and market analysis
- Community attitude surveys
- Household / consumer surveys
- Employment and labour market intentions
- Skills and training needs
Model building: creating and maintaining bespoke economic models to meet particular needs
Lawrence Consulting has significant expertise in undertaking economic impact assessments, cost benefit analyses and feasibility
studies, all of which combine economic concepts with financial evaluation. Examples of assorted modelling tools developed include:
- Feasibility/Cost-Benefit Analyses
- Project Evaluation
- Financial Modelling
- Budget Scenario Planning
- Full Cost Pricing
- Tariff Design and Incidence
- Cross Subsidies Evaluation