Discussions of whether or not one type of impact analysis - economic, social, or environmental - deserve precedence over the other are ill-founded and miss the fact that all three are necessary to inform good decision making and each other.

That said, economic analysis carries obvious advantages, being a robust way to weigh the impacts between different physical, financial, and subjective intangible effects for individual people, and then weight the balance of those effects between people. That dollars are only a convenient, but arbitrary, yardstick of relative preferences and therefore well-being is aside to the actual aims of economic analysis. Albeit one often poorly explained by economists, and therefore, commonly misunderstood by non-economists through no fault of their own.

Sparowly Group’s Senior Economist, Sam Miller provides a explainer to help demystify misperceptions.

Program evaluation is a crucial component of many government interventions, initially designed as pilot programs. Evaluating the successes and failures of a pilot enables highly informed decisions to be made about the program, whether it continues and scales up or not. What do you need to consider to ensure program evaluation is truly objective? Sparrowly Group’s Federico Moreno explains.