National Economics, our history
The National Institute of Economic and Industry Research (NIEIR), also known as National Economics, was founded in 1984 as a private economic research, consulting and training group serving clients in the public and private sectors. Our clients include many of Australia's largest and most dynamic corporations as well as Federal, State and Local Government. A wide variety of long term international projects have been undertaken as National Economics continues to develop an array of international capabilities in line with Australia's growing international economic focus.
The work of National Economics was traditionally divided into two streams, one financed by subscriptions and the other by commissioned consultancy advice, studies and reports. The streams are complementary in that, much of the consultancy work, uses as background the economic forecasts and projections prepared for subscribers and the detailed knowledge of various industry and government sectors gained in consultancy work is fed back into the models, forecasts and projections.
With over 20 years applied economic and consultancy work behind it National Economics has built up a considerable body of intellectual capital, both in terms of the expertise of its staff and the data sets and econometric analyses available for application to clients needs. A major part of this capital is National Economics' IMP modelling suite, a range of powerful forecasting and analysis tools which give National Economics "leading edge" capability in national, state, regional and local area economic and business analysis. Other formal models include:
- national and state quarterly, medium and long term models producing forecasts from six quarters to 30 years ahead
- an energy sector model with greenhouse impact and electricity load curve projection capability
- economic activity "leading indicator" models, freight and transport & retail dynamics & models establishing equity performance indicators for industries
- detailed industry modelling with forecasting for 130 industry sectors and international trade assessments
- models for assessing household level economic activity and the consequences of short term policy changes, and local area consumer demands down to groups of 200 to 300 households, through our PopInfo, SpendInfo and YourPlace data services.
- YourPlace (at LGA level with trend data and extensive local social and economic indices) is now accessible on line through group agreements So too is an advisory service for subscribers
- regional models and forecasting covering all regions in Australia down to the Statistical Division and local government area levels. An annual nationwide stocktake of regional trends, undertaken in collaboration with the Australian Local Government Association is published as the State of the Regions reports.
Purpose built models are developed for specific consulting projects, strategy analysis, infrastructure planning, catchment management, investment assessment and cost-benefit analysis, information support and training.
National Economics' staff have a strong belief in the need for an integrated approach to industry analysis and forecasting and bring to their consultations an array of tools and expertise which ensures that all relevant parameters are accounted for in meeting the client's needs.
These capabilities will continue to be critical to the development of competitive advantage for National Economics' clients as increasing domestic and international competition together with deregulation and privatisation bring more and more of Australia's economic activity to the rigours of detailed analysis.