The Center for Strategic Development is devoted to policy-oriented research and advice, with a view to provide analytical insights and actionable policy recommendations to decision makers to help them make informed decisions.
Economic Modeling Unit is established to build and test robust economic models, to offer the right recommendations at the right time.
Economic modeling is central to public policy analysis and decisions making.
At every stage – starting from policy design to policy implementation – economic model is widely used for descriptive, predictive and prescriptive analyses in order to take the right decisions.
Accordingly, the Economic Modeling Unit is committed to help policymakers to take correct policy decisions, develop and implement appropriate welfare programs in an efficient and cost-effective manner.
The Economic Modeling Unit is designed to have an instrumental role in assisting the Saudi policy-makers to carry out the ongoing economic transformation process in the best possible direction to achieve the strategic goals of Vision 2030.
To that effect, the Economic Modeling Unit team uses various qualitative and quantitative methods to understand complex socioeconomic questions and solve real-world problems in the context of policy-making.
The key objectives for Economic Modeling Unit are as follows:
- Assessment of existing policies & programs using several economic modeling techniques and suggesting the best possible solution;
- Designing and evaluating new policies using appropriate modeling methods;
- Assisting other Center for Strategic Development teams by providing robust economic model-based insights
- Building empirical, observational and experimental models to produce different scenarios, in order to evaluate the effect of alternative policy options; and
- Undertaking behavioral research studies and making behavioral economics part of mainstream decision making.