A closer look at Economics Consulting

Economics is the science of business and every day it shapes the world we live in, cutting across the most pressing issues facing businesses, investors, regulators and governments. In the midst of the big tides shaping the global economy, our clients rely on us to help them solve their most difficult problems – anything from developing a new strategy to facing a regulator or engaging in high stakes litigation.

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What is the difference between management/strategy consulting firms and economic consulting firms?

Management consulting firms primarily focus on helping businesses improve their performance by providing recommendations to address business challenges. This may involve looking into a division that is not profitable and/or deciding which factory to close down.

Economic consulting, on the other hand, focuses on the intersection of business, economics, and law. One type of project may involve two (or more) companies where one is accused of causing economic harm to the other and we are asked to measure the damages. In another, we may be asked to forecast current and/or future liabilities stemming from an environmental product liability. Another could focus on determining if price movements were consistent with an alleged manipulative scheme in an energy market.