Economic tools
Economic tools
Economic tools (or tools of economic analysis) facilitate the preparation of a robust urban plan that encourages economic development in a way that is conducive to and compatible with sustainability objectives. Put differently, they influence the way (functionality) planned urban objects and urban environments are going to be shaped. Furthermore, economic tools are used to measure the economic impact of existing urban objects. In essence, they are urban planning tools (though not solely used by urban planners).
Users of economic tools
Economic tools can be used by economists (specialists) but also by specialized urban planners in socio-economic appraisal.
Types of economic tools
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Urban planning processes employ a host of economic tools/models:
- Business case
- Economic Impact Study (EIS)
- Input/output-analysis (I/O-analysis)
- Social cost-benefit analysis (SCBA)
- Other economic tools
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