What economic assumptions are taken into account?
Economic assumptions are not explicitly part of the modelling process. They are implied in different ways, depending on the area being forecast. In regional and rural areas, a close assessment of the local economic conditions must be undertaken, as they have a direct impact on migration patterns and levels of household and population growth. In urban areas, the current state of the metropolitan and regional economy is assessed as an input to short-term assumptions about levels of residential development. As no economic cycle is assumed as a part of the forecasts, the levels of development may not typify year to year variations in residential and demographic change.
Related Questions
- How do the assumptions used affect the likelihood that the economic costs will actually be more severe than reflected in this report?
- How can the College formulate operating budget assumptions and projections in such uncertain economic conditions?
- Has the value of a DHPA taken into account the move towards Full Economic Costing (fEC)?
