CICERO will undertake the macro-economic analysis for all the ULLs. The macro-economic analysis will address the following key question: what are the economic and social net benefits of the identified efficiencies and who do they benefit?
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, and how investors react to changes in the economic activities. 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.
Economic analysis of market and non-market values of the FWE system for each of the ULLs & overall economic valuation of the impacts generated from the FWE system for each of the ULLs.
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.
The model will describe: