Economic Valuation 

​​Overview

CICERO will undertake the macro-economic analysis for all the ULLs.  We will conduct an economic analysis of market and non-market values of the FEW system for each of the ULLs & overall economic valuation of the impacts generated from the FEW system for each of the ULLs. The macro-economic analysis  will address the following key questions:

• What are the economic and social net benefits of the identified efficiencies and who do they benefit?
• Will the solution of a ULL be sustainable in economic terms? If yes, how?

In a co-creational process with the ULL stakeholders we will characterize the identified environmental effects in terms of their welfare impacts and value these impacts in economic terms, thereby ensuring that they are comparable with the macroeconomic results and are represented in subsequent economic appraisal to FEW nexus investments.

Methods
The macro-economic analysis will develop several scenarios to illustrate how the interactions between the economic agents in the country affect the external settings of the ULL. For each ULL we will model the national economy by distinguishing key economic activities, particularly those related to food, water and energy. 
​The model will describe:

• How the production is performed
• How consumers make decisions based on market price signals
• How the government spends its budget
• How investors react to changes in the economic activities

Key methods for Rotterdam and Bristol ULLs include scenario analysis, input-output analysis & modeling of economic behavior of stakeholders. For the other two ULLs, the key methods will include survey data analysis, ex-anti evaluation & multi-criteria assessment.

Collaborators
Taoyuan Wei,CICERO, e-mail
Alistair Hunt , University of Bath, e-mail 
Ulrich Schmutz, Coventry University, e-mail
Daniel Black, db+a, email
​
​