Spectrum economics offers peer review of economic analysis and social impact evaluation for business cases. The peer review generally includes the following:
- Review of methodology applied to the analysis.
- Checking of data sources and references.
- Review of model applied to conduct the analysis.
- Detailed report of the peer review, which will include feedback highlighting the strengths and deficiencies in the analysis.
Cost Benefit Analysis (CBA)
Spectrum Economics specialises in CBA for road and transport projects and programs. Wayne Davies has conducted over 50 CBAs for transport and road projects and programs over the last 10 years. These projects have included the following:
- Flood Immunity Projects
- Town Bypasses
- Public Transport Projects
- Road Widening Projects
- Access Projects
- Road and Rail Safety Projects
- Road Intersection and Interchange Projects
- Non-Infrastructure Projects
- Overtaking Lane Projects
- Freight and Heavy Vehicle Projects
Wayne Davies of Spectrum Economics has been involved in economic research for over 10 years. Most of this research has been focused on cost benefit analysis for transport and road projects. This website will be updated with research in other areas such as education, health, and agriculture.
Spectrum develops a variety of Excel-based economic models. The modelling page of this website will provide examples of economic models developed. These models include:
- Detailed Road Project Models
- Rapid Road Project Models
- Non-Infrastructure Models
- Multi-modal Economic Models
- Toll Analysis Models
- Optimal Timing Models
- Sensitivity Analysis Models
- Crash Analysis Models
- Externality Analysis Models
Spectrum Economics will conduct CBA workshops on demand. These workshop vary in complexity and focus.
For the non-specialists, Spectrum can conduct a basic CBA workshop that explains the inputs a CBA typically requires and the outputs that can be expected to be received.
For practitioners, Spectrum can provide a more detail workshop that covers areas such as methodology, data inputs, results, sensitivity and scenario testing, and interpretation of results. Spectrum also offers a workshop that focuses purely on transport and road projects.
Social Impact Evaluation (SIE) Workshops
Spectrum Economics conducts SIE Workshops upon request. These workshops typically run for about 2 hours and involve interaction and participation from the audience. The workshops will mostly focus on content required to conduct an SIE for a Building Queensland project and will follow closely to the Guide published on the Building Queensland website.
Integration of CBA and SIE Workshops
The integration of SIE and CBA is not commonly practiced but can add tremendous value to the analysis of project impacts and can greatly improve the quality of information to investment decision-makers. These workshops will be interactive and will require audience participation.
Workshop outlines will be made available shortly.
Economics Training and Education
Many have a misconception that economics is all about dollars and sense. A series of videos will be uploaded to YouTube and made available through this site. These videos will cover on some of the basic economic principles that many of us apply to our daily lives without even realizing it. These videos will the help the viewers understand how economics should be applied and how we can all improve the quality of lives by doing so.
General Economics Presentations
Economics presentations will be run on the topics discussed and presented in the YouTube videos. More details will become available in the 3rd quarter of 2017.