Economic Evaluation

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
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