economic analysis of a project

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Guidelines for the Economic Analysis of Projects

The Asian Development Bank has revised its guidelines for project economic analysis, which help ensure investment decisions are based on economic and efficiency considerations.

The economic analysis of development projects helps to ensure that scarce resources are allocated efficiently, and investment brings benefits to a country and raises the welfare of its citizens. It is a tool used by the Asian Development Bank (ADB) to ensure that its operations comply with the ADB Charter and contribute to the broad objectives of poverty reduction, inclusive economic growth, environmental sustainability, and regional integration.

The guidelines in this publication are a revised version of the 1997 edition . The revision responds to the changing development context and ADB operational priorities, and aims to address the recommendations of the ADB Quality-at-Entry Assessments for more methodological work on project economic analysis.

The revised guidelines provide general principles for the conduct of project economic analysis. The appendices provide illustrations of their application.

Changes in the guidelines from the 1997 edition include

• revised minimum required economic internal rate of return for investment decisions;
• several issues that have emerged or become more important since the adoption of the 1997 edition, including economic analysis under various financing modalities, the treatment of the social cost of carbon, and economic analysis of regional economic cooperation projects; and
• a new chapter on benefit valuation by sector, which details the method for valuing project, benefits in major sectors of ADB operations.

These guidelines should be read together with handbooks, technical reports, and other reference materials published by ADB, which discuss sector-specific project economic analysis in detail.

I. Introduction

The Agreement Establishing the Asian Development Bank (ADB Charter) requires staff to “take the necessary measures to ensure that the proceeds of any loan made, guaranteed or participated in by the Bank are used only for the purposes for which the loan was granted and with due attention to considerations of economy and efficiency” (Article 14.11). It also states that “only economic considerations shall be relevant to their decisions” (Article 36.2).1 Project economic analysis is a key tool to ensure that ADB operations comply with the mandate of the ADB Charter and contribute to the broad objectives of poverty reduction, inclusive economic growth, environmental sustainability, and regional integration. Read more .

II. Scope of Project Economic Analysis

A well-conducted economic analysis should show that

• a project is in line with the development context of a borrowing country and ADB’s country partnership strategy;
• there is strong rationale for the public sector and ADB to finance the project; and
• the selected project represents the most efficient or least-cost option among all the feasible alternatives for achieving the intended project benefits and, when benefit can be valued, it will generate a positive economic net present value (ENPV) using the minimum required economic internal rate of return (EIRR) as the discount rate, i.e., the project has an EIRR higher than the discount rate.

Read more .

III. Identification of Project Benefits and Costs

With and Without Project Scenarios, Constant Prices, and Project Life

There are four broad steps in project economic analysis:

• Identify gross project benefits and costs;
• Quantify and value the benefits and costs, initially in market or financial prices;
• Adjust the costs and benefits to reflect their economic values; and
• Compare gross economic benefits with economic costs..

IV. Economic Valuation of Benefits and Costs

Economic valuation of project benefits and costs involves converting their financial values into economic values, also known as “shadow pricing.” This conversion requires economic prices of project outputs and inputs to be estimated. Economic prices reflect values of goods, services, and other project effects on the national economy. The basis for estimating economic prices differs between internationally traded and nontraded goods and services, between project outputs and inputs, and between incremental and non-incremental outputs and inputs. Read more .

V. Benefit Valuation in Different Sectors

Unless otherwise indicated, benefit valuation as discussed below refers to gross benefit of a project, rather than its net benefit that is the difference between gross benefit and cost. While the general principles of benefit valuation—distinguishing between non-incremental benefits that are measured at cost savings and incremental benefits that are measured at market prices (where there is no consumer surplus) or willingness to pay—apply to all sectors, detailed applications differ among sectors. Read more .

VI. Investment Decisions and Criteria

Discounting and Indicators of Economic Viability

After identifying and valuing project benefit and cost flows accrued in different years of a project’s life that normally spans over 20–30 years, the future flows should be converted to their present value (or the value of a base year) by discounting at a required economic discount rate. The discounting allows calculating aggregated indicators of economic viability of a project for making investment decisions. The most commonly used indicators to determine economic viability are economic net present value (ENPV) and economic internal rate of return (EIRR). Other commonly used indicators are the benefit–cost ratio (BCR) and cost-effectiveness ratio (CER). Read more .

VII. Sensitivity and Risk Analysis

Project economic analysis uses the most likely forecast values of economic benefits and costs. However, streams of benefits and costs are influenced by a wide range of factors and they may deviate from the forecasts. Sensitivity analysis aims to assess the effect of adverse changes in key variables upon the project ENPV and EIRR and the implications of these changes for the project investment decision. Risk analysis incorporates the probabilities that the key variables will deviate from their forecast values and the associated risk to the project arising when these key variables vary simultaneously. These techniques can be used to assess the implications of uncertainty for investment decisions, and should be used to inform the design of mitigating actions. Appendix 19 provides more details and examples of sensitivity and risk analyses. Read more .

VIII. Project Sustainability

Economic viability depends on the sustainability of project effects over the project’s life. Hence, project economic analysis should ensure that an adequate analysis of the financial and institutional sustainability of the sponsoring agency and of the environmental sustainability of the project itself has been carried out. Read more .

IX. Distribution Analysis

Distribution analysis is an important component of project economic analysis. First, a project must be financially sustainable and, hence, financial incentives must be adequate for each of the main project stakeholders. Second, where the government is involved it will be important to know how far the project will add to or reduce future government financial commitments. Third, where parties from different countries are involved, it will be important to establish the distribution of net gains and costs between these countries. Finally, where projects are intended to contribute to the goal of inclusive growth, it will be important to establish how target groups are affected. Read more .

Appendix 1: Reference Materials on Project Economic Analysis in ADB

Appendix 2: Use of Constant Prices in the Economic Analysis of Projects

Appendix 3: Method for Constructing a Project Statement

Appendix 4: Consumer Surplus and Gross Project Economic Benefits

Appendix 5: Methods for Valuing Nonmarket Impacts

Appendix 6: Treatment of Working Capital

Appendix 7: Examples of Deriving Economic Prices

Appendix 8: Illustrations of Estimating the Shadow Wage Rate

Appendix 9: Economic Price of Land and Treatment of Resettlement

Appendix 10: Depletion Premium

Appendix 11: Use of Domestic Price Numeraire

Appendix 12: Illustration of Estimating the Shadow Exchange Rate

Appendix 13: Using Conversion Factors: A Water Project Example

Appendix 14: Examples of Benefit Transfer Method

Appendix 15: Distribution Analysis of Regional Cooperation Projects

Appendix 16: Estimating the Economic Rate of Return: Irrigation Rehabilitation Project

Appendix 17: Illustration of Least-Cost and Cost-Effectiveness Analysis

Appendix 18: Estimating the National Economic Discount Rate

Appendix 19: Treatment of Uncertainty: Sensitivity and Risk Analysis

Appendix 20: Distribution of Project Effects

Asian Development Bank (ADB). 2017. Guidelines for the Economic Analysis of Projects . Manila.

ADB. Economic Analysis of Projects .

ADB. 2001. Handbook for Integrating Poverty Impact Assessment in the Economic Analysis of Projects . Manila.

Ask the Experts

Edimon Ginting previously served as deputy director general of ADB's Economic Research and Regional Cooperation Department. He joined ADB in 2007, where he has led strategic operations to support economic reforms, including loans to support countries' response to the global financial crisis. Earlier in his career, he was an economist at the International Monetary Fund; advisor to the Indonesian Parliament; and research economist at the Productivity Commission, Australia. He received his PhD in Economics from Monash University.

Juzhong Zhuang joined Asian Development Bank in 1997 and retired as Senior Economic Advisor in 2020. From 1992 to 1997, he was a research officer of the Development Economics Research Program at the London School of Economics. He holds a Ph.D. in Economics from the University of Manchester.

Kee-yung Nam conceptualizes and develops energy sector strategies and policies as well as provides advice on lending and non-lending projects for the sector. He is also responsible for the energy sector trust funds of ADB. He undertakes analysis and assessment of key sectoral issues, particularly in clean energy technologies.

Maria Rowena Cham is a senior economics officer at the Economic Research and Development Impact Department. She has worked at the National Economic and Development Authority and Power Sector Assets and Liabilities Management Corporation in the Philippines. She has co-authored chapters in the country diagnostic studies published by ADB and published journal articles on the Philippine economy.  She has a master’s in Economics from the University of the Philippines.

View the discussion thread.

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Project Management Under Internet Era pp 153–207 Cite as

Economic Analysis in Project Management

• Shaopei Lin 3 &
• Dan Huang 4  
• First Online: 28 February 2020

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As we understand, the economic analysis of the project is going through financial calculations, which is actually in digital form. Therefore, it is born natural that the platform of digitization of project management can be quite adaptable for the economic analysis once there is the clarified analyses formulation for the analyses. Moreover, the software can implement the routine procedures of economic feasibility studies eventually.

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Further Reading

Rebentisch, E.: Integrating Program Management and System Engineering. Wiley, Hoboken (2017)

Book   Google Scholar  

Jelen, F.C., Black, J.H.: Cost and Optimization Engineering, 2nd edn. McGraw-Hill Book Company (1983)

Google Scholar  

Lin, S., Xiaofeng, Y.: System Analysis and Computer Algorithms. Shanghai Jiao Tong University Press, Shanghai (1990). (in Chinese)

Lin, S., Guoqiang, Z.: Economic Analysis and Bidding/Tendering Decision. Shanghai Jiao Tong University Press, Shanghai (1990). (in Chinese)

Kerzner, Harold: Project Management: Best Practice Achieving Global Excellence. Willey, Hoboken (2006)

PMI.: A Guide to the Project Management Body of Knowledge (PMBOK Guide), 6th edn. Newtown Square: PMI Inc. (2017)

Jido, J.: Successful Project Management, 3rd edn. Cengage Learning, Boston (2006)

Pinto, J.: Project Management: Achieving Competitive Advantages. Pearson Education Inc., New York (2006)

Bao, X.: Project Planning and Scheduling Management under Internet Era. Shanghai: Forum on “Project Management Development Tendency under Internet Era”, Shanghai Jiao Tong University, 26 Mar 2018 (in Chinese)

Gatti, S.: Project Finance in Theory and Practice, 2nd edn. Elsevier (2018)

Mao, X., Lin, S.: Investment optimization problem in multi-project program. J. Optim. Infra-struct. 22 (1), 2732 (2010) (in Chinese)

Lin, S.: Uncertainty Modeling and Analysis in Civil Engineering: Fuzzy Modeling of Risky Investment Decision in Engineering Project, p. 167187. CRC Press, Boca Raton (1998)

Lin, S., et al.: Fuzzy economic assessment for offshore oil fields. J. China Ocean Eng. 4 (1), 97108 (1990)

Lin, S., et al.: Fuzzy risk analysis of harbor engineering investment by hierarchy system approach. J. China Ocean Eng. 6 (1), 8794 (1992)

White, J.A., Agee, M.H., Case, K.E.: Principles of engineering economic analysis, 2nd edn. Wiley, Hoboken (1977)

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Introduction to Economic Analysis

(4 reviews)

Preston McAfee, Caltech

Tracy R Lewis, Duke University

Copyright Year: 2009

ISBN 13: 9780982043097

Publisher: Saylor Foundation

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Brendan Cushing Daniels, Associate Professor or Economics, Gettysburg College on 4/20/20

Unless I am missing it because the file I downloaded is incomplete, there is no index or glossary, nor is there a table of contents. The comprehensiveness of the material itself in terms of topics covered is quite good - better, in fact, than many... read more

Comprehensiveness rating: 3 see less

Unless I am missing it because the file I downloaded is incomplete, there is no index or glossary, nor is there a table of contents. The comprehensiveness of the material itself in terms of topics covered is quite good - better, in fact, than many other intermediate textbooks. However, the depth of coverage of many of the topics is not as good as other textbooks.

Content Accuracy rating: 5

There are few obvious errors in the text.

Relevance/Longevity rating: 4

There are few enough specifics that can go out of date quickly, but there are too few concrete examples as a result.

Clarity rating: 5

The text is clearly written and accessible.

Consistency rating: 5

Not only internally consistent, but students who have taken an introductory course using any standard text would find it easy to access the material in this textbook.

Modularity rating: 5

Chapters are broken down into manageable parts that would allow students to read effectively in shorter doses rather than sit and read through a longer chapter at a time, something many students cannot do with great retention.

Organization/Structure/Flow rating: 4

Most intermediate micro texts take consumer theory before producer theory so that after developing the latter, the book can seamlessly transition to market structures other than perfectly competitive. This book flips consumer and producer theory, and I don't think that works. There are other choices of organizational structure I found odd, but I admit it could be due to overexposure to standard treatment in other textbooks.

Interface rating: 4

I cannot be sure that the problems I have reading the equations throughout are not due to my own computer/interface, but I found the equations in particular difficult to read clearly.

Grammatical Errors rating: 5

The book is largely free of grammatical errors.

Cultural Relevance rating: 5

Largely non-gendered, non-culture specific with the obvious exceptions like the chapter on the US economy.

For an open source textbook, the several hundred dollar savings to students more than outweighs its shortcomings.

Reviewed by Bryan Buckley, Assistant Teaching Professor, University of Illinois at Urbana-Champaign on 2/10/20

There are two margins for comprehensiveness that need to be considered: the number of concepts and the depth of any particular concept. The text covers most of the main topics covered in an intermediate microeconomic theory course and some... read more

There are two margins for comprehensiveness that need to be considered: the number of concepts and the depth of any particular concept. The text covers most of the main topics covered in an intermediate microeconomic theory course and some additional chapters which can be covered at the discretion of the instructor. There was one, noticeable oversight for me, the text does leave out cross-price and income elasticity. There are likely places where the text does not cover a topic that an instructor feels is important. Relative to a standard textbook, this book has fewer graphs to illustrate concepts, a quicker explanation of math, and shorter chapters. There are no specific mathematical examples to help guide students. Students who do not have much experience with applying math to economics will likely be lost.

The accuracy of the material is high. However, there are places where the authors define profit in a way which is actually producer surplus to most economists. There are likely other places that will stand out to any particular instructor.

Occasionally, the text will use examples that seem 10 to 20 years old like “camcorders.” Some of the time series data ends in by 2010, some in the year 2000.

Clarity rating: 3

Often, the language is informal and conversational. This is a good feature. However, the introduction of the math is high-level. The math will potentially alienate students who take the course who are less comfortable with calculus. The math in the chapters is limited to general forms. This will lead to problems for students who need more concrete examples when being introduced to a concept.

The book is consistent in the style of presentation and in the use of terminology and concepts.

Each chapter is relatively self-contained. Instructors should be able to choose which concepts fit their course with ease. Additionally, each chapter is subdivided, and instructors could choose from within a chapter as well.

Overall the organization is clear and logical. Students are given Key Takeaways that summarize the information in a chapter. These work well. Students are also given Exercises to practice the concepts, however there are no solutions. Some Exercises are introduced before the material required to answer the question is introduced. For instance, students are asked to draw an Edgeworth box in CH 6 when the concept is not covered until CH 14.

Critically, there are many places where the math does not seem to display properly. There are other formatting issues like “Unexpected text node: ‘.” Firefox was able to display the math correctly, while Google Chrome and Internet Explorer were not. The issue is also present in the PDF version. Instructors will need to ensure that students are able to access the textbook in a way that does not have these formatting issues. Graphs have no color. While this is helpful for students who wish to print out the text, it does miss the opportunities that color coding can provide.

Occasionally, there seems to be a formatting error that combines words. It is not terribly difficult to figure out. The most problematic instance is when “a positive” becomes “apositive” which makes the ‘a’ seem like a prefix for positive.

Much of economics is separate from discussions of culture. The text is fairly standard in its approach and focuses on typical examples and markets that will be familiar to other texts.

The text varies between intuitive discussions of real-world markets and deep mathematics. The intuitive portions of the text will be something that students at the intermediate level will be able to understand easily. The authors cover many different, relevant topics in this style. However, things become much more difficult when the text introduces math. The math is quickly introduced in its most general forms. This will prove difficult for students who have not applied calculus to economics before. I believe only the students who are extremely comfortable with calculus will be able to read the text and follow the math. Additionally, there seems to be a formatting error when the math is displayed. Students and instructors will need to test several browsers to see which one accurately displays the equations. For my experience, Firefox was able to display the math correctly, while Google Chrome and Internet Explorer were not.

Reviewed by Hanzhe Zhang, Assistant Professor, Michigan State University on 10/19/19

The book covers all the necessary topics, starting from a series of introductory and overview chapters, to fundamental consumer and producer theories, to game theory and its applications and beyond. read more

Comprehensiveness rating: 5 see less

The book covers all the necessary topics, starting from a series of introductory and overview chapters, to fundamental consumer and producer theories, to game theory and its applications and beyond.

The book is quite concise and covers all the standard topics.

Relevance/Longevity rating: 5

Since the book covers all the core topics of intermediate microeconomics, it should not be obsolete for a while.

The text is quite concise, complemented by end-of-section summaries.

The book is internally consistent in terms of terminology and framework.

Each chapter in the book is relatively short and can be covered in a 1.5-hour class period.

Organization/Structure/Flow rating: 5

The topics in the text are presented in a logical, clear fashion.

The equations in the textbook can be better typeset, for example, the equations associated with elasticities can be improved.

The text has been tested and tried, is free of errors.

The text, as most economics texts, uses dispassionate language.

The first review of the book was off in my opinion, because the reviewer thought this book was about econometrics but in fact it has nothing to do with econometrics.

Reviewed by Christine Luketic, Adjunct Professor/ Instructor, Virginia Tech on 2/8/17

The title of this book is misleading. It is a book about economics and economic theory, but not about economic analyses, or econometrics. My rating on comprehensiveness is referring directly to the lack of applied econometric and economic... read more

Comprehensiveness rating: 1 see less

The title of this book is misleading. It is a book about economics and economic theory, but not about economic analyses, or econometrics. My rating on comprehensiveness is referring directly to the lack of applied econometric and economic analysis material as you would find in a text as by Stock and Watson, or Angrist, et al

Content Accuracy rating: 1

I cannot assess the accuracy because I expected it to be a book regarding economic analysis and econometrics. It is not.

The text appears to be clearly laid out and easily updatable

Clarity rating: 4

The clarity and ease of reading is fairly direct.

The text is internally consistent in terms of terminology and framework.

Yes, there do not appear to be any navigational issues

I did not read every part of the text, but the sections that I did review did not appear to have grammatical errors.

Cultural Relevance rating: 3

I did not find any outstanding examples of cultural relevance

I was excited at the idea of an on-line free economic analysis book/ econometrics book that would be accessible to students and general audiences alike. This text has a significant amount of value in its content. However, the title should be changed to be more relevant

Table of Contents

• Chapter 1: What Is Economics?
• Chapter 2: Supply and Demand
• Chapter 3: Quantification
• Chapter 4: The U.S. Economy
• Chapter 5: Government Interventions
• Chapter 6: Trade
• Chapter 7: Externalities
• Chapter 8: Public Goods
• Chapter 9: Producer Theory: Costs
• Chapter 10: Producer Theory: Dynamics
• Chapter 11: Investment
• Chapter 12: Consumer Theory
• Chapter 13: Applied Consumer Theory
• Chapter 14: General Equilibrium
• Chapter 15: Monopoly
• Chapter 16: Games and Strategic Behavior
• Chapter 17: Imperfect Competition
• Chapter 18: Information
• Chapter 19: Agency Theory
• Chapter 20: Auctions
• Chapter 21: Antitrust

Ancillary Material

About the book.

This book presents standard intermediate microeconomics material and some material that, in the authors' view, ought to be standard but is not. Introductory economics material is integrated. Standard mathematical tools, including calculus , are used throughout. The book easily serves as an intermediate microeconomics text, and can be used for a relatively sophisticated undergraduate who has not taken a basic university course in economics.

The focus of this book is on the conceptual tools and not on fluff . As such, it reflects the approach actually adopted by the majority of economists for understanding economic activity. There are lots of models and equations, and no pictures of economists ;-)

Economic analysis is used in many situations. When British Petroleum sets the price for Alaskan crude oil, it uses an estimated demand model, both for gasoline consumers and also for the refineries to which BP sells. Economic analysis was used by experts in the antitrust suit brought by the U.S. Department of Justice both to understand Microsoft's incentive to foreclose (eliminate from the market) rival Netscape and consumer behavior in the face of alleged foreclosure. Stock market analysts use economic models to forecast the profits of companies to predict the price of their stocks. When the government forecasts the budget deficit or considers a change in environmental regulations, it uses economic models. This book presents the building blocks of the models in common use by an army of economists thousands of times per day.

This book, plus econometrics, provides most of the economic analysis tools to take upper division economics courses of any type.

About the Contributors

R. Preston McAfee received his undergraduate degree in economics from the University of Florida, and master of science in mathematics and a Ph.D in economics from Purdue University. McAfee is the J. Stanley Johnson Professor of Business, Economics & Management at Caltech. He is on leave as Vice-President and Research Fellow at Yahoo!, where he heads an economic research team.

The author of many academic papers on auctions, McAfee was one of the designers of the Federal Communication Commission’s first auction of radio spectrum rights for cellular phones. Over $100 billion worth of airwaves and other items have been sold this auction design. He has run auctions in Mexico and advised several governments on auction use.

McAfee served as an economic expert in a variety of antitrust cases, including Exxon-Mobil, BP-Arco, Lockheed Martin-Northrop Grumman, and Peoplesoft-Oracle. He also testified in the U.S. versus Rambus, and has testified before three U.S. Senate committees on antitrust enforcement and gasoline pricing.

Tracy R. Lewis is the Martin L. Black Professor of Business Administration at the Fuqua School of Business, Duke University, and Director of the Duke University Innovation Center.

Other positions held by Dr. Lewis include the following: James Walter Eminent Scholar in Economics, University of Florida; Associate Director of Energy Studies, Public Utilities Research Center; Director, Program on Workable Energy Regulation (POWER); Professor of Economics, University of California, Davis; Professor of Economics, University of British Columbia; Assistant Director, Program in Natural Resource Economics; Visiting Associate Professor of Economics, California Institute of Technology; Associate Professor of Economics, University of British Columbia; Brookings Fellow, Washington, DC; Visiting Assistant Professor, University of British Columbia; Assistant Professor, University of Arizona.

In addition to the roles above, Dr. Lewis has served as Economic Advisor for the National Research Council, Academy of Sciences. He has been a consultant to numerous organizations including the Florida Attorney General’s Office, the World Bank Project on Abatement of Greenhouse Gases, Florida Power and Light Company, the Federal Trade Commission, the Department of Energy, the Rand Corporation, and many others.

Dr. Lewis has published two books, numerous articles, and has served as editor on a wide range of journals including: the Journal of Law, Economics and Organization, the B. E. journals in industrial organization, and Review of Network Economics—to name a few. He has been awarded over 15 grants, fellowships, and awards.

Tracy earned his B.A. and Ph.D. at the University of California, San Diego.

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What is economic analysis? Definition and examples

Economic Analysis involves assessing or examining topics or issues from an economist’s perspective. Economic analysis is the study of economic systems. It may also be a study of a production process or an industry. The analysis aims to determine how effectively the economy or something within it is operating. For example, an economic analysis of a company focuses mainly on how much profit it is making.

Economists say that economic analysis is a systematic approach to finding out what the optimum use of scarce resources is.

Economic analyses factor in the opportunity costs that people or companies employ. They measure, in monetary terms, what the benefits of a project are to the economy or community.

Opportunity cost is all about evaluating the option you gave up when you made a choice.

The Cambridge Dictionary has the following definitions of “economic analysis”:

“1. A study of an economy or group of economies, or these types of studies in general. 2. A study of the finances of a business, done especially in order to save money and reduce waste.”

Put simply; economic analysis is all about analyzing the economic aspects of something.

Apart from economists, statisticians and mathematicians may also carry out economic analyses.

According to the Asian Development Bank: “Economic analysis is a means to help bring about a better allocation of resources that can lead to enhanced incomes for investment or consumption purposes. Therefore, it is best undertaken at the early stages of the project cycle.

Economic analysis – methods

For companies, the goal of an economic analysis is to provide a clear picture of the current economic climate. Specifically, what the impact of the economic climate is or might be on the company’s ability to operate commercially.

In this context, ‘ economic climate ‘ means ‘ economic conditions ,’ i.e., the state of the overall economy .

The people conducting the analysis carry out an in-depth appraisal of the market’s strengths and weaknesses. They may choose from several different methods.

Cost/benefit analysis

This type of economic analysis tries to determine a project’s feasibility . Some people may refer to it as a feasibility study .

Those carrying out the study weigh its costs against its potential benefits.

A business may perform a cost-benefit analysis before, for example, purchasing four robots for the warehouse. Each robot can do the work of five human workers.

Currently, the business has 20 warehouse employees. They earn $30,000 per year each, i.e., they represent a total annual wage bill of $600,000.

Without factoring in wage increases and inflation, the business will have spent $6 million on warehouse staff over a 10-year period.

The robots cost $150,000 each. The price includes ten years of free maintenance. Therefore, the cost of automating the warehouse is $600,000.

The company must also employ a roboticist, whose salary is $50,000 per year.

Over a ten-year period, the cost of the robots plus the roboticist will be $600,000 + $500,000 = $1.1 million.

The company will save $4.9 million over that ten-year period if it replaces the human workers with robots.

It might save even more after that because nobody knows for certain how long the robots will last.

After looking at the cost/benefit analysis, the directors will probably decide to go ahead with the project.

Many sociologists and economists today warn that automation will soon take millions of human jobs . What will society be like in future if most people are unemployed?

The subject of automation is not only present in companies targeting manufacturing, it’s also quite present in service industries as well. For example, financial companies all over the world have been planning to re-adjust their operations departments.

Although companies can afford to have employees similar to the past, the reality of the modern markets has shifted so much towards a profit-oriented policy that employees are simply not a focus anymore

Cost/Effectiveness

In this type of analysis, we weigh a project’s effectiveness against its price. In this case, however, a low cost does not necessarily mean superior effectiveness.

Using the same ‘warehouse and robots’ scenario, researchers have also determined that human workers are better at spotting defects.

The warehouse workers’ duties do not include checking the quality of the goods. However, they often identify faults and report them.

The company addresses the defects before shipping out the products.

The cost/effectiveness analysis finds that losing this fault detection feature might cost more than $4.9 million over a decade.

The company will probably lose some dissatisfied customers. Additionally, fixing defects after delivering products is much more expensive than doing so beforehand.

After reading the cost-effectiveness analysis, the directors may halt the project. Perhaps one of them may suggest purchasing the robots but keeping on one or two human workers.

Cost/benefit and cost/effectiveness analyses are just two of several types of economic analyses.

These methods, along with others like risk assessment and environmental impact studies, provide a comprehensive view for economic decision-making.

These analyses methods contribute to the economic assumptions that economists make when they create economic models.

These two educational videos come from our sister channel on YouTube – Marketing Business Network . Using easy-to-understand vocabulary and examples, they explain what “Economic Analysis” and “Increasing Opportunity Cost” mean.

What is Economic Analysis?

What is Increasing Opportunity Cost?

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Economic Analysis: An Overview

• Bhumika Dutta
• Sep 09, 2021

Introduction

Every field requires a systematic approach for a better understanding of the subject and general processing. Economists regard economic analysis as one such methodical strategy that assists them in making the best use of limited resources. It entails evaluating or investigating subjects or concerns from the standpoint of an economist. This article is a general overview of Economic analysis where we discuss the following in detail:

What is Economic analysis?

The Process of Economic analysis.

Types of Economic analysis.

Importance of Economic analysis.

Economic analysis vs. Financial analysis

What is Economic Analysis ?

The study of economic systems is known as economic analysis. It could also be an investigation into a manufacturing process or an industry. The goal of the analysis is to identify how well the economy or a component of it is performing. Thus, the monetary appraisal of alternatives for achieving a specific goal is known as economic analysis. 

Let us look at a real-life example of economic analysis, a decision-maker may explore new construction, renovation of an existing facility, or leasing another building to meet the need for additional office space. The assessment is based on a cost-benefit analysis of discounted costs and benefits over a set period of time. The ratio of total benefits to total costs (benefit-cost ratio) or, equivalently, the total net benefits, can be used to describe alternatives (net present value).

Most of the U.S, federal agencies have actively integrated economic analysis into their decision-making process and have given solutions to many issues ranging from environmental regulation to building designs. Building owners employ economic analysis to decide which building option is the most economically efficient or cost-effective. 

The Economic Analysis (ECO) major will provide you with a solid foundation for working as a specialist, advisor, or manager in a variety of industries and organizations, particularly for occupations that require high levels of insight and analytical competence.

(Also read: What is the Economic Calendar? )

The Economic Analysis Process

Given below is a diagram that shows the steps to estimate the economic consequence of a decision, as listed in Ruegg’s and Marshall’s Building Economics- theory and practice.

Steps to follow economic analysis

  Let us discuss the steps in detail:

First, we have to define the problem and determine the objective of the problem. Then, we have to determine feasible options for achieving the goal, taking into account any limits.

It is very important to recognize if the economic analysis is actually necessary for the problem, and if so, what is the level of effort required. Then, we have to select one or more methods of economic analysis.

If the data to be used with the economic method are unclear, we have to choose a strategy that compensates for uncertainty and/or risk. We need to gather information and make the assumptions that the economic analysis method(s) and risk analysis approaches require.

Calculate an economic performance indicator.

Finally, we compare the economic repercussions of different options and make a decision, taking into account any non-quantifiable effects and the decision maker's risk attitude.

(Suggested blog: Capital in Economics )

What are the different types of Economic Analysis ? 

Different types of economic analysis differ not only by methodologies but also in terms of aims. The different types of economic analysis are given below:

Cost-Effectiveness:

This examines two programs to see which is the most cost-effective—that is, which can produce the most impact for the least amount of money.

Cost-benefit Analysis and Social Return on Investment (SROI):

Both try to determine whether the intervention's outcomes are worth the money and resources spent on it. It can be done retrospectively to assess actual outcomes or prospectively to estimate the worth of desired outcomes. Both methods of economic analysis assign a monetary value to the program's outcomes and compare it to the program's cost. Some of the methodology they employ to assess monetary values differs.

Why is Economic Analysis important ? 

Economic analysis is very important as it allows organizations and their donors to compare the impact of social intervention to the cost of implementing it. These comparisons aid in determining the most effective resource allocation. 

Economic analysis is a type of assessment that helps answer the question "is it worth it?" in addition to the question "does it work?" that other impact evaluations address. Economic analysis has been more prominent in the impact measurement practices of charities and donors in recent years, as the sector has been under increasing pressure to give estimates of what value is created for every pound invested.

But, economic analysis isn't necessarily the most persuasive piece of evidence for demonstrating a charity's impact. Because it relies on solid outcomes data and a strong evidence basis, charities may not have the essential pieces in place to perform good economic analysis and may find it hard. 

Economic analysis must be reliable; otherwise, it will be simple to identify flaws in calculations. If the economic analysis is done incorrectly, it might lead to erroneous charity resource allocation decisions.

(Suggest article: Economic growth vs economic development )

How to determine whether the economic evaluation is right for the organization?  

While the decision to do an economic analysis is influenced by a variety of circumstances, the following questions can assist one in making an informed decision. If we do not know the answers to any of the questions, we should not consider economic analysis as an option in the first place.

1. Is there a good reason for doing an economic evaluation?  

One should have a determined question that they want to investigate ( For example: Does my program provide value for money?) and they should also have a definite reason for asking this question. One must consider the consequences and if doing the process is worth their time or resources.

2. Are there good outcomes ?

While the decision to undertake an economic analysis depends on many factors, considering the following questions will help to guide you. If your answer is ‘no’ to any of the questions, then the economic analysis is probably not appropriate. 

3.  Do you have a compelling cause to do an economic analysis ? 

You should have a specific question in mind (for example, does my program give excellent value for money?) and a compelling rationale for asking it. Consider what you'll do with the outcomes and whether the time and effort required are worthwhile.

(Recommended blog: Micro vs Macroeconomics )

4.  Do you have solid data for outcomes? Do you have statistics to compare your outcomes to what would have happened if your program or intervention didn't exist (the counterfactual) ? 

Although data from a 'control' group that has not undergone an intervention is preferable, there may be other options, such as collecting data from individuals on your service's waiting list or comparing it to national figures. Without a counterfactual, economic analysis will only give an indication of prospective economic effect rather than actual impact on the economy and will rely on possibly biased assumptions.

5.  Do you have the time and resources to do a thorough economic analysis?

Whether you do it yourself or hire someone else to do it, you'll need time and money to do it right. Do not undervalue the rigor that goes into doing economic research. This can lead to sloppy economic analysis and jeopardize your evidence's trustworthiness.

6. Is it possible to communicate or translate the results you want to attain into monetary values in a meaningful way ? 

To answer this, think about the difference you can create as a consequence of your efforts. Some outcomes, such as educational attainment, physical health, or employment, are very straightforward to assign monetary values to. Improved confidence, well-being, and self-esteem, for example, are considerably more difficult to quantify financially. Although these results are significant, an economic examination may not be the ideal method for determining their worth.

(Also Read- Different Types of Pricing Strategies )

Economic Analysis vs Financial Analysis

Financial and economic assessments share many of the same characteristics. Based on the difference between the with-project and without-project scenarios, both estimate the net benefits of a project investment.

The basic difference between them is:

The Financial analysis analyses the enterprise's advantages and expenses.

The advantages and costs to the entire economy are compared in the economic analysis.( from )

Methodology

The real worth of a project for society as a whole is the subject of economic analysis. It encompasses all members of society and assesses the good and negative effects of the project. Furthermore, the economic analysis would take into account the costs and benefits of products and services that are not offered on the market and so have no market price.

Between financial and economic analysis, there are two additional major differences:

While financial analysis utilizes market pricing to assess the investment balance and long-term viability of a project, economic analysis does not.

To determine the validity of utilizing national resources for particular projects, economic analysis utilizes economic prices that are converted from market pricing by eliminating tax, profit, subsidy, and other factors. ( Source )

External impacts (benefits and costs), such as positive health consequences, are also treated differently in financial and economic studies. Externalities are valued in economic analysis in order to represent the real cost and value to society. The addition of externalities poses challenging problems about how to identify and assess them in monetary terms.

(Read also: Financial Analysis )

In this context, cost-benefit analysis is supposed to be a type of economic analysis, highlighting the integrated perspective of the IFM method. It should be highlighted, however, that economic and financial analyses are complimentary. 

A project must be financially sustainable in order to be commercially viable. There will be insufficient cash to run, maintain, and replace assets if a project is not financially viable. It has been claimed that financial viability should not be an issue because a project may be supported by government subsidies if it is financially sensible.

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Rangeland Ecology & Management

Get reliable science.

• Publication Date

Economics Associated with Rangelands

Basic economic analysis of projects.

Written by John Tanaka, University of Wyoming

Grazing by domestic livestock -- that is, cattle, sheep, and goats -- is one of the most widespread uses of rangelands. Deciding what species to graze, how to graze them, how many to graze, and where and when to graze has been the subject of much rangeland research and management. Economic analysis can help the decision-maker determine answers to those questions when he or she wants to know the profit maximizing levels.

The basic economic principle being applied is to equate the value of the marginal product to the marginal factor costs. In essence, this says that the last animal added to the herd should produce just enough income to cover the cost of producing it. With the law of diminishing returns, each animal added contributes less to profit than did the previous one and at the economically optimal stocking rate, the last animal adds nothing to profit. Stocking rate and varying stocking rate to match forage conditions have emerged as the most important factors influencing ranch profitability and the economic responses to grazing.

Grazing systems have been developed through the years to assist in the management of livestock and to improve the health of the land. If the system is going to be economically beneficial, either animal performance or forage production must improve over time. In addition, a grazing system could result in lower operating costs, may reduce fire danger due to removal of vegetation, or provide other habitat improvements that society values.

Economic Feasibility of Range Improvement Practices -  Rangeland improvement practices are implemented for a variety of reasons. Historically, they were done primarily for managing livestock like cattle and sheep. As other uses of the rangelands became more important, managers began designing them for use by wildlife, to avoid impacts on wildlife and recreationists, to reduce soil erosion, to improve riparian areas, and many other reasons. Each of these uses causes different benefits and incurs different costs. The economic analysis of any such project is the same.

The economic analysis of any project requires that one estimate both the costs and the benefits from the project through time. Costs include both the initial investment and the annual maintenance and repairs. Benefits include all of the annual returns upon which society places value. The life of the project will also be an important consideration. A problem arises when not all of the costs or benefits can be quantified or valued.

Estimating Costs  - Costs include the initial investment and annual maintenance and repairs. Projects can be designed in a variety of ways, each affecting both types of costs and the project life. A reasonable variety of project designs can be developed to achieve the management goals. Each design can have its costs estimated.

For example, if the manager decides to remove a woody plant species to increase the amount of forage available for cattle, there are many ways to achieve that goal, including using herbicides, prescribed fire, mechanical removal, and biological control. Each of these methods can be applied at different intensities with different success rates and risks. Different herbicides can be applied using ground or aerial application methods, at different rates, and in different patterns with different levels of brush kill and different levels of plant responses.

The manager must weigh all of these factors in deciding on the methods to use for a particular project. In many areas, there will be a desired method to implement based on experience. That should not preclude the evaluation of alternatives based on changing sets of goals to be achieved.

Estimating Benefits  - Benefits from rangeland improvement practices can be more difficult to estimate. Benefits from livestock forage produced are relatively straightforward, while those related to scenic views and wildlife may be harder.

If the benefit is from livestock forage, it can be valued by either considering the cost of alternative feeds such as hay or leased pastures. The process is to estimate how much additional forage will be produced by the practice and apply one of those values to it to come up with a total value.

If the project is expected to result in nonmarket benefits such as reduced soil erosion, increased streamflow, wildlife habitat, scenic views, or recreational opportunities, the benefit estimation is much more difficult. Basically three methods can be used in these cases: travel cost method, contingent valuation method, and avoided costs.

The travel cost method (TCM) can be used if there is a specific location people travel to do something. It is primarily used for recreation sites where people go to an area to hunt, fish, swim, boat, view scenery, or enjoy other such activities.

The contingent valuation method (CVM) is used when the item or use being valued is not necessarily based on a location. In essence, the method seeks to ask a cross section of people what they would be willing to pay for some changed condition or situation. The responses are then used to come up with an estimate of value.

The avoided cost method would be used if the project were to reduce costs incurred before the project was implemented. If reduced soil erosion resulted in less water treatment or reduced the need to dredge behind dams, those reduced costs can be considered a benefit of the project.

Each of these nonmarket valuation methods has been used for a variety of uses of rangelands. While there are concerns about their validity for use in planning and management, each method can provide relative values that could be used in project analysis. Care must be applied in both how the methods are applied and how the resulting estimates are used.

Feasibility Analysis  - Once the costs and benefits are estimated, three basic methods are used to estimate economic feasibility:

Internal Rate of Return (IRR)

Present Net Worth (PNW)

Benefit-Cost Ratio (B/C)

With three methods available, which is the best to use? All three methods use the same information. In the case of PNW and B/C, the analyst needs to know what discount rate to use in the calculations, whereas with the IRR, the analyst needs to know what interest rate to compare with the IRR. PNW is likely the best method to use (Workman 1981), although the others provide useful information as well.

See also:  Workman, J. P. 1981. Disagreement among investment criteria - A solution to the problem. Journal of Range Management 34:319-324.

The internal rate of return (IRR) is one measure used by economists to evaluate investments. It is based on the principal of discounting which is where future values are brought to present values based on some discount rate. The IRR method seeks to find that discount rate whereby the present value of future returns just equals the initial investment cost.

In rangeland management, many projects will have an initial cost that will create changes in future costs and returns to whatever operation is being considered. For example, seeding desirable grass and shrub species is an activity to restore degraded rangelands or to change the desired mix of vegetation on a particular range site. The process of removing undesirable vegetation, preparing the seedbed, and seeding the desirable plants entails an initial cost. The initial investment is expected to change the future income stream to the ranch by increasing forage, changing the season of forage availability, and/or changing herd management. If values are placed on each of the costs and returns, and the timing of each of those, an IRR can be calculated.

The decision rule is that if the IRR is greater than the rate of return that the decision-maker could earn on the use of those funds, then the project is considered to be economically feasible. Another way of looking at it is if the IRR is greater than what the decision-maker would have to pay in interest to finance the project, then it is economically feasible.

The IRR is one economic measure to help evaluate an investment. It can help a rangeland manager decide if the project will return enough to justify making the investment based on the cost of borrowing funds or an alternative investment rate -- for example, what you could earn in an alternative such as the stock market.

If you assume that the net annual returns from the initial investment are equal, then you can apply the following formula and seek to find the discount rate, either through trial and error or using set tables as described in Nielson (1977).

R = Net additional annual return

r = Discount rate

i = Years of equal net annual returns.

If the net annual returns are not equal, you can use the formula for Present Net Worth and solve for Present Net Worth equal to zero.

For more information, see:

Nielsen, Darwin B. 1977. Economics of range improvements: a rancher's handbook to economic decision-making. Utah Agricultural Experiment Station Bulletin 466 (revised). Logan, Utah. 52 p.

Workman, John P. and John A. Tanaka. 1991. Economic feasibility and management considerations in range revegetation. Journal of Range Management 44(6):566-573.

Present Net Worth (PNW) is used to determine if the benefits, or income, are greater than the costs when both are valued in current dollars. The method requires that future values are discounted to a present value and added together. The basic formula is:

i = year being considered, generally 0 to N, where N is the last year of the planning horizon

Benefits i  = Benefits from the projects obtained in year i

Costs ( i ) = Costs from the projects obtained in year i. The initial investment in the project is assumed to occur in year 0.

r = the discount rate.

Workman, John P. and John A. Tanaka. 1991. Economic feasibility and management considerations in range revegetation. Journal of Range Management 44(6):566-573. 

The benefit-cost ratio (B/C) is used to compare the present value of all benefits to the present value of all costs. The ratio is merely used to see if a $1 of costs will return at least $1 in benefits.

B/C is used by many federal agencies in the economic justification of projects. The discount rate is set by policy and is generally used at 3, 7, and 10% (or some other range) to see how sensitive the results are to the discount rate. In addition, the agencies have attempted to include nonmarket benefits and costs (i.e., goods and services for which there is no market price) in its calculation.

The basic formula for the B/C ratio is:

Costs i  = Costs from the projects obtained in year i. The initial investment in the project is assumed to occur in year 0.

400+ Economic Project Topics: How to Choose and Excel in Research

Economic project topics play a pivotal role in the academic journey of students pursuing degrees in economics or related fields. These topics serve as the foundation for research, analysis, and the development of critical thinking skills. 

Selecting the right economic project topic is crucial, as it can significantly impact the success of your research and the depth of your understanding of economic principles. 

In this blog, we’ll guide you through the process of choosing the right economic project topic, explore different categories of topics, and provide tips for a successful research journey.

How To Select Economic Project Topics?

Table of Contents

Before diving into the categories of economic project topics, it’s essential to understand the process of selecting a topic that aligns with your interests, expertise, and available resources. Here’s a closer look at how to choose the right topic:

Identifying Your Interests and Expertise

Passion for your research topic can be a powerful motivator. Consider areas within economics that genuinely interest you. 

Do you have a fascination with microeconomic concepts like market dynamics and consumer behavior, or are you more drawn to macroeconomic issues like fiscal and monetary policies? Identifying your interests will make the research process more enjoyable and rewarding.

Moreover, leveraging your expertise can lead to a more fruitful research experience. If you have a background in a specific industry or possess unique skills, it may be wise to select a topic that aligns with your strengths. 

Your existing knowledge can provide valuable insights and a competitive edge in your research.

Assessing the Relevance and Timeliness of Topics

Economic research should address current and relevant issues in the field. To ensure the significance of your project, consider the timeliness of the topic. 

Are you exploring an emerging economic trend, or does your research address a longstanding issue that still requires attention?

Additionally, think about the broader implications of your research. How does your chosen topic contribute to the existing body of knowledge in economics? 

Assessing the relevance and potential impact of your research can help you choose a topic that resonates with both academic and real-world audiences.

Considering Available Resources and Data

Practicality is a crucial factor in selecting an economic project topic. Assess the availability of resources and data required for your research. Do you have access to relevant datasets, surveys, or academic journals that support your chosen topic? 

It’s essential to ensure that the necessary resources are accessible to facilitate your research process effectively.

400+ Economic Project Topics: Category-Wise

Economic project topics encompass a wide range of areas within the field. Here are four major categories to explore:

100+ Microeconomics Project Topics

• The impact of advertising on consumer behavior.
• Price elasticity of demand for luxury goods.
• Analyzing market structure in the tech industry.
• Consumer preferences for sustainable products.
• The economics of online streaming services.
• Factors affecting pricing strategies in the airline industry.
• The role of information asymmetry in used car markets.
• Microeconomics of fast fashion and its environmental effects.
• Behavioral economics in food choices and obesity.
• The impact of minimum wage on small businesses.
• Market competition and pharmaceutical drug prices.
• Monopoly power in the pharmaceutical industry.
• Economic analysis of the gig economy.
• Elasticity of demand for healthcare services.
• Price discrimination in the hotel industry.
• Consumer behavior in the sharing economy.
• Economic analysis of e-commerce marketplaces.
• The economics of ride-sharing services like Uber.
• Factors influencing the demand for organic foods.
• Game theory and strategic pricing in oligopolistic markets.
• Microeconomics of the coffee industry.
• Analyzing the effects of tariffs on imported goods.
• Price elasticity of demand for electric vehicles.
• The economics of artificial intelligence and job displacement.
• Behavioral economics in the stock market.
• Impact of advertising on children’s consumer choices.
• Monopolistic competition in the smartphone industry.
• Economic analysis of the video game industry.
• The role of patents in pharmaceutical pricing.
• Price discrimination in the airline industry.
• Analyzing consumer behavior in the luxury fashion industry.
• The economics of addiction and substance abuse.
• Market structure in the online advertising industry.
• Price elasticity of demand for energy-efficient appliances.
• Economic analysis of the fast-food industry.
• The impact of product recalls on consumer trust.
• Factors influencing consumer choices in the beer industry.
• Microeconomics of the music streaming industry.
• Behavioral economics and food labeling.
• Economic analysis of the fitness and wellness industry.
• The economics of organic farming and sustainability.
• Analyzing the demand for mobile app-based services.
• Price discrimination in the entertainment industry.
• Economic analysis of subscription box services.
• Consumer preferences for eco-friendly packaging.
• Game theory in online auction markets.
• Analyzing the effects of congestion pricing.
• The economics of university tuition and student loans.
• Microeconomics of the fashion resale market.
• Behavioral economics in online shopping cart abandonment.
• Market structure in the pharmaceutical distribution.
• Analyzing the economics of cryptocurrency.
• Economic analysis of the real estate market.
• Price elasticity of demand for streaming music services.
• Consumer choices in the electric vehicle market.
• The economics of food delivery services.
• Monopoly power in the cable television industry.
• Factors influencing consumer decisions in the cosmetics industry.
• Behavioral economics and charitable donations.
• Economic analysis of the online dating industry.
• The impact of healthcare regulations on prices.
• Price discrimination in the cruise line industry.
• Economic analysis of the fashion resale market.
• Analyzing the effects of subsidies on agriculture.
• Consumer preferences for eco-friendly transportation.
• Market structure in the book publishing industry.
• Microeconomics of the craft beer industry.
• Behavioral economics and impulse buying.
• Price elasticity of demand for video game consoles.
• Economic analysis of the coffee shop industry.
• The economics of mobile payment systems.
• Analyzing consumer choices in the fast-food breakfast market.
• Monopolistic competition in the smartphone app industry.
• Factors influencing consumer decisions in the beauty industry.
• Behavioral economics in the context of online reviews.
• Economic analysis of the organic skincare industry.
• The impact of government regulations on tobacco prices.
• Price discrimination in the movie theater industry.
• Microeconomics of the subscription box industry.
• Analyzing the effects of trade barriers on agricultural exports.
• Consumer preferences for sustainable fashion.
• Market structure in the video game console industry.
• The economics of mobile app monetization.
• Price elasticity of demand for streaming television services.
• Economic analysis of the organic food industry.
• Behavioral economics and the psychology of pricing.
• Analyzing consumer choices in the electric scooter market.
• Monopoly power in the cable internet service industry.
• Factors influencing consumer decisions in the wine industry.
• Economic analysis of the impact of product reviews on sales.
• The economics of online crowdfunding platforms.
• Price discrimination in the music festival industry.
• Microeconomics of the meal kit delivery industry.
• Behavioral economics and the impact of discounts on purchasing behavior.
• Analyzing the effects of trade agreements on global supply chains.
• Consumer preferences for sustainable home appliances.
• Market structure in the online marketplace for handmade goods.
• The economics of esports and gaming tournaments.
• Price elasticity of demand for online streaming subscriptions.
• Economic analysis of the fast-casual restaurant industry.
• The impact of government subsidies on renewable energy prices.

100+ Macroeconomics Project Topics

• The impact of fiscal policy on economic growth.
• Analyzing the effectiveness of monetary policy.
• Inflation targeting and its implications.
• The relationship between unemployment and inflation.
• Factors influencing exchange rates.
• The effects of globalization on income inequality.
• Assessing the economic consequences of trade wars.
• The role of central banks in financial stability.
• Economic growth in emerging markets.
• Government debt and its impact on the economy.
• The economics of healthcare reform.
• Income distribution and poverty alleviation strategies.
• The economics of renewable energy adoption.
• The impact of automation on employment.
• Economic consequences of climate change.
• The economics of the gig economy.
• The Phillips Curve and its modern relevance.
• The economics of housing bubbles.
• Economic development in sub-Saharan Africa.
• The economics of education funding.
• The impact of technology on productivity growth.
• The role of the IMF in global financial stability.
• Economic consequences of Brexit.
• The economics of cryptocurrency.
• Economic implications of aging populations.
• The economics of natural disasters.
• The effects of income tax cuts on the economy.
• The relationship between economic freedom and growth.
• The role of infrastructure investment in economic development.
• The economics of health insurance markets.
• The impact of minimum wage laws on employment.
• The economics of food security.
• The effects of government subsidies on industries.
• The role of the World Bank in global development.
• Economic consequences of government regulation.
• The economics of corporate mergers.
• The relationship between government spending and economic growth.
• Economic effects of monetary policy on asset prices.
• The economics of social safety nets.
• The impact of income inequality on economic growth.
• The role of entrepreneurship in economic development.
• Economic consequences of trade deficits.
• The effects of financial deregulation.
• The economics of the opioid crisis.
• The relationship between economic growth and environmental sustainability.
• The impact of tax evasion on government revenue.
• Economic development in post-conflict regions.
• The economics of the sharing economy.
• The role of the World Trade Organization (WTO) in international trade.
• Economic consequences of government debt crises.
• The effects of population aging on healthcare systems.
• The economics of public-private partnerships.
• The impact of economic sanctions on countries.
• Economic implications of income tax reform.
• The role of venture capital in innovation.
• The economics of foreign aid.
• The relationship between education and economic growth.
• Economic effects of natural resource extraction.
• The economics of financial market crashes.
• The role of economic incentives in behavior.
• Economic consequences of currency devaluation.
• The effects of income tax progressivity on income distribution.
• The economics of income mobility.
• The impact of government subsidies on renewable energy.
• Economic development in post-communist countries.
• The economics of intellectual property rights.
• The relationship between government corruption and economic growth.
• Economic consequences of government budget deficits.
• The effects of financial globalization.
• The role of behavioral economics in policy-making.
• The economics of healthcare access.
• The impact of automation on manufacturing jobs.
• Economic implications of population growth.
• The economics of housing affordability.
• The relationship between monetary policy and asset bubbles.
• Economic effects of immigration policies.
• The role of economic forecasting in decision-making.
• The economics of taxation on multinational corporations.
• Economic development in the digital age.
• The impact of economic shocks on consumer behavior.
• Economic consequences of natural disasters.
• The effects of income inequality on social cohesion.
• The economics of financial innovation.
• The relationship between economic freedom and entrepreneurship.
• Economic implications of healthcare reform.
• The role of gender inequality in economic development.
• The economics of climate change mitigation.
• The impact of government regulations on small businesses.
• Economic development in the Middle East.
• The economics of consumer debt.
• The relationship between trade policy and national security.
• Economic consequences of housing market crashes.
• The effects of monetary policy on income distribution.
• The economics of sustainable agriculture.
• The role of economic sanctions in international diplomacy.
• Economic implications of corporate tax reform.
• The economics of innovation clusters.
• The impact of government procurement policies on industries.
• Economic development in post-apartheid South Africa.
• The relationship between economic inequality and political instability.

100+ International Economics Project Topics

• Impact of Trade Wars on Global Economies
• Exchange Rate Determinants and Fluctuations
• The Role of Multinational Corporations in International Trade
• Effects of Brexit on International Trade
• Comparative Analysis of Free Trade Agreements
• Currency Manipulation and Its Consequences
• Economic Integration in the European Union
• Global Supply Chains and Vulnerabilities
• The Impact of China’s Belt and Road Initiative
• Trade Liberalization in Developing Countries
• Globalization and Income Inequality
• Economic Consequences of Economic Sanctions
• International Trade and Environmental Sustainability
• The Role of the World Trade Organization (WTO)
• Foreign Direct Investment and Economic Growth
• Exchange Rate Regimes: Fixed vs. Floating
• International Financial Crises and Their Causes
• NAFTA vs. USMCA: A Comparative Analysis
• The Effects of Tariffs on Import-Dependent Industries
• Trade and Economic Development in Africa
• Offshoring and Outsourcing in a Global Economy
• The Economics of Remittances
• Currency Wars and Competitive Devaluations
• International Trade and Intellectual Property Rights
• The Impact of Economic Openness on Inflation
• The Eurozone Crisis: Causes and Solutions
• Trade Imbalances and Their Consequences
• The Economics of International Migration
• Exchange Rate Volatility and Speculation
• The Silk Road: Historical and Modern Perspectives
• The Role of International Aid in Development
• Globalization and Cultural Homogenization
• International Trade and National Security
• The Economic Effects of Brexit on the EU
• Sovereign Debt Crises and Bailouts
• The Economics of Global Energy Markets
• International Trade and Human Rights
• The Asian Financial Crisis of 1997
• The Economics of International Tourism
• The Impact of Global Economic Institutions
• International Trade and Technological Innovation
• Comparative Advantage and Trade Theory
• Globalization and Income Redistribution
• International Trade and Agriculture
• The BRICS Countries in the Global Economy
• Exchange Rate Pegs and Currency Boards
• The Economics of Global Health Challenges
• International Trade and Gender Inequality
• The Effects of Economic Migration on Sending and Receiving Countries
• The Role of Non-Tariff Barriers in International Trade
• International Trade and Economic Development in Latin America
• The European Debt Crisis and Austerity Measures
• Globalization and Income Mobility
• The Impact of International Trade on Small and Medium-sized Enterprises (SMEs)
• The Economics of Regional Integration: ASEAN, Mercosur, etc.
• Trade Agreements and Dispute Resolution
• Exchange Rate Forecasting Models
• The Economics of Foreign Aid Allocation
• The Role of International Trade in Poverty Alleviation
• International Trade and Economic Freedom
• The Economics of International Banking
• Globalization and Income Convergence
• The Effects of Political Instability on International Trade
• Trade and Economic Development in South Asia
• The Role of Special Economic Zones (SEZs) in Trade
• International Trade and Labor Standards
• Economic Consequences of Trade Deficits
• The Economics of International Taxation
• Trade and Economic Development in the Middle East
• Globalization and Income Polarization
• The Impact of Global Value Chains (GVCs) on Trade
• International Trade and Health Care Systems
• The Economics of Bilateral vs. Multilateral Trade Agreements
• Trade and Economic Development in Southeast Asia
• Exchange Rate Parity Conditions
• The Economics of International Migration Policies
• The Role of Trade Facilitation Measures
• International Trade and Human Capital Development
• Globalization and Income Insecurity
• The Effects of Trade on Environmental Sustainability
• The Economics of Foreign Direct Investment (FDI) Incentives
• Trade and Economic Development in Eastern Europe
• The Role of Export Credit Agencies (ECAs) in Trade
• International Trade and Technological Transfer
• Globalization and Income Resilience
• The Impact of Global Economic Shocks
• Trade and Economic Development in Oceania
• Exchange Rate Risk Management Strategies
• The Economics of Foreign Exchange Reserves
• International Trade and Economic Geography
• The Role of Trade Promotion Agencies
• Globalization and Income Diversity
• The Effects of Exchange Rate Intervention
• International Trade and Financial Inclusion
• Trade and Economic Development in the Caribbean
• The Economics of Trade Agreements on Services
• The Role of Export Processing Zones (EPZs) in Trade
• International Trade and Income Mobility
• Globalization and Income Equality Policies
• The Impact of Trade Disputes on International Relations.

100+ Economic Policy Project Topics

• The impact of minimum wage laws on employment rates.
• The effectiveness of quantitative easing in stimulating economic growth.
• Analyzing the consequences of trade tariffs on international commerce.
• The role of government subsidies in shaping agricultural markets.
• The economic implications of healthcare reform policies.
• Examining the relationship between income inequality and economic growth.
• Evaluating the effects of corporate tax cuts on business investments.
• The impact of immigration policies on labor markets.
• Analyzing the economic consequences of climate change regulations.
• Assessing the effectiveness of financial regulations in preventing economic crises.
• The role of central banks in controlling inflation.
• The economic implications of universal basic income programs.
• Investigating the relationship between education spending and economic development.
• The impact of government debt on future generations.
• Analyzing the effects of fiscal stimulus packages on economic recovery.
• The role of monetary policy in addressing unemployment.
• Evaluating the economic consequences of government healthcare programs.
• The impact of exchange rate fluctuations on international trade.
• The economic implications of public-private partnerships in infrastructure development.
• Analyzing the effects of antitrust laws on competition in markets.
• The role of social welfare programs in poverty reduction.
• Evaluating the economic consequences of aging populations.
• The impact of housing policies on real estate markets.
• Investigating the relationship between foreign aid and economic development.
• The economic implications of globalization on income distribution.
• Analyzing the effects of regulatory capture in financial markets.
• The role of tax incentives in promoting renewable energy.
• Evaluating the economic consequences of healthcare privatization.
• The impact of immigration reform on labor market dynamics.
• Investigating the relationship between government debt and interest rates.
• The economic implications of trade liberalization agreements.
• Analyzing the effects of corporate social responsibility on profitability.
• The role of fiscal policy in addressing economic recessions.
• Evaluating the economic consequences of income tax reforms.
• The impact of technology policies on innovation and economic growth.
• Investigating the relationship between monetary policy and asset bubbles.
• The economic implications of minimum wage adjustments.
• Analyzing the effects of government regulations on the pharmaceutical industry.
• The role of foreign direct investment in economic development.
• Evaluating the economic consequences of healthcare cost containment measures.
• The impact of labor market policies on workforce participation.
• Investigating the relationship between exchange rates and export competitiveness.
• The economic implications of intellectual property rights protection.
• Analyzing the effects of fiscal austerity measures on economic stability.
• The role of government spending in stimulating economic growth.
• Evaluating the economic consequences of energy subsidies.
• The impact of trade agreements on job displacement.
• Investigating the relationship between infrastructure investment and productivity.
• The economic implications of financial market deregulation.
• Analyzing the effects of income tax credits on low-income families.
• The role of social safety nets in mitigating economic shocks.
• Evaluating the economic consequences of healthcare rationing.
• The impact of labor market flexibility on employment stability.
• Investigating the relationship between corporate governance and firm performance.
• The economic implications of government subsidies for renewable energy.
• Analyzing the effects of taxation on wealth distribution.
• The role of sovereign wealth funds in economic development.
• Evaluating the economic consequences of currency devaluation.
• The impact of government regulation on the gig economy.
• Investigating the relationship between foreign aid and political stability.
• The economic implications of healthcare privatization.
• Analyzing the effects of income inequality on social cohesion.
• The role of infrastructure investment in reducing transportation costs.
• Evaluating the economic consequences of carbon pricing policies.
• The impact of trade protectionism on domestic industries.
• Investigating the relationship between public education funding and student outcomes.
• The economic implications of housing affordability challenges.
• Analyzing the effects of labor market discrimination on wage gaps.
• The role of monetary policy in addressing asset price bubbles.
• Evaluating the economic consequences of financial market speculation.
• The impact of government procurement policies on small businesses.
• Investigating the relationship between population aging and healthcare expenditures.
• The economic implications of regional economic integration.
• Analyzing the effects of government subsidies on agricultural sustainability.
• The role of tax incentives in promoting technology startups.
• Evaluating the economic consequences of trade imbalances.
• The impact of healthcare cost containment measures on patient outcomes.
• Investigating the relationship between government debt and economic growth.
• The economic implications of housing market speculation.
• Analyzing the effects of labor unions on wage negotiations.
• The role of economic sanctions in shaping international relations.
• Evaluating the economic consequences of natural resource depletion.
• The impact of fiscal policy on income redistribution.
• Investigating the relationship between education quality and workforce productivity.
• The economic implications of government investment in green infrastructure.
• Analyzing the effects of income tax evasion on government revenue.
• The role of gender-based economic disparities in overall growth.
• Evaluating the economic consequences of healthcare fraud.
• The impact of public transportation policies on urban development.
• Investigating the relationship between corporate social responsibility and consumer behavior.
• The economic implications of government support for the arts and culture sector.
• Analyzing the effects of government subsidies on electric vehicles.
• The role of economic diplomacy in promoting international trade.
• Evaluating the economic consequences of financial market volatility.
• The impact of globalization on wage convergence or divergence.
• Investigating the relationship between economic sanctions and human rights violations.
• The economic implications of government investments in digital infrastructure.
• Analyzing the effects of government interventions in housing markets.
• The role of economic policies in addressing income mobility.
• Evaluating the economic consequences of occupational licensing regulations.

Popular Economic Project Topics

To inspire your research journey, here are some popular economic project topics within each category:

• Case Studies

1. Analyzing the Impact of COVID-19 on a Specific Industry: Examine how the pandemic affected industries like hospitality, aviation, or e-commerce.

2. Evaluating the Economic Effects of Tax Reforms: Investigate the consequences of recent tax policy changes on businesses, individuals, and government revenue.

• Research-Based Topics

1. Exploring the Relationship Between Inflation and Unemployment: Conduct empirical research to analyze the Phillips Curve and its relevance in the modern economy.

2. Investigating the Factors Influencing Consumer Spending Patterns: Use surveys and data analysis to understand what drives consumer spending behavior.

• Policy Analysis

1. Assessing the Effectiveness of a Recent Economic Stimulus Package: Evaluate the impact of government stimulus measures on economic recovery, employment, and inflation.

2. Examining the Pros and Cons of Minimum Wage Adjustments: Analyze the economic effects of changes in the minimum wage on low-wage workers, businesses, and overall employment.

Research Methodologies: Economic Project Topics

The methodology you choose for your economic project can significantly impact the outcomes of your research. Here are some common research approaches:

• Quantitative Research

Quantitative research involves collecting and analyzing numerical data. Common methods include:

1. Surveys and Questionnaires: Conduct surveys to gather data from respondents and use statistical analysis to draw conclusions.

2. Data Analysis and Regression Models: Employ statistical software to analyze datasets and establish relationships between variables using regression analysis.

• Qualitative Research

Qualitative research focuses on understanding the underlying reasons, motivations, and perceptions of individuals or groups. Common methods include:

1. Interviews and Focus Groups: Conduct interviews or group discussions to gain insights into specific economic behaviors or attitudes.

2. Content Analysis: Analyze textual or visual data, such as documents, reports, or media, to identify themes and patterns.

• Mixed-Methods Research

Mixed-methods research combines both quantitative and qualitative approaches to provide a comprehensive understanding of economic phenomena. Researchers often collect numerical data alongside qualitative insights.

Tips for Successful Project Topic Selection

To ensure a successful research journey, keep these tips in mind:

• Narrowing Down Your Focus: While it’s essential to choose a topic you’re passionate about, make sure it’s specific enough to be manageable within the scope of your project.
• Staying Informed About Current Economic Events: Stay up-to-date with economic news and events to identify emerging trends and issues that may inspire your research.
• Seeking Guidance from Professors or Advisors: Don’t hesitate to seek advice from your professors or academic advisors. They can provide valuable insights and help you refine your research questions.

Selecting the right economic project topics is a critical step in your academic journey. By identifying your interests, considering the relevance and timeliness of topics, and assessing available resources, you can embark on a rewarding research journey. 

Whether you choose to delve into microeconomics, macroeconomics, international economics, or economic policy, remember that your research has the potential to contribute to the broader understanding of economic principles and their real-world applications.

Start your research journey today, and you’ll not only gain valuable knowledge but also make a meaningful contribution to the field of economics.

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GTAP University (GTAP-U): 2025 Short Course in Dynamic Global Trade Analysis

2025 short course in dynamic global trade analysis, "applied general equilibrium analysis using a dynamic multi-region model".

Courses phases are not offered independently.

Course Content

Background and Objectives The objective of this course is to introduce participants to dynamic economic analysis in an applied general equilibrium setting. This course is designed to provide participants with ample hands-on training with software that has been tailored for undertaking analysis using a dynamic recursive model. Participants will interact with economists working on global trade and environmental issues using a dynamic framework. The end goal of the course is for participants to leave with the capability of conducting and analyzing their own dynamic simulations.

Features of the GTAP-Recursive Dynamics (GTAP-RD) model include:

• Recursive dynamics based on the GTAP Model (v7), a multi-region, multi-sector general equilibrium model, including parameters by region and the flexibility of using the make matrix that allows for activities to produce one or more commodities.
• "Twist" preference parameters to capture domestic-imported bundle shifts and capital-labor changes over time.
• GTAP-Energy (GTAP-E) and GTAP-Power (GTAP_EP) models, based on version 7, have also been extended for recursive dynamic analysis and are also available during the course for replication and extension work.

Course participants will learn to develop a business-as-usual scenario using information from the Shared Socioeconomic Pathways , which has been annualized and integrated with GTAP distributions for ease of use.

Structure The GTAP Dynamic Short Course is comprised of an online instruction phase followed by an intensive onsite course delivered by a team of GTAP specialists in data, model construction, and policy analysis. Note that the online and onsite phases of the course are not offered independently.

• know when to consider using dynamic analysis
• learn about the inputs used to construct the GTAP Data Base
• know how to perform an aggregation with the aggregation utility GTAPAgg
• review the Standard GTAP Model
• Course software installation
• Course motivation
• GTAP Data Base and GTAPAgg
• Standard GTAP Model
• know about the latest GTAP Recursive Dynamic (RD) models
• understand how these models have been made dynamic
• learn how to run simulations from the command line
• Adjust tax rates using simulations (Altertax)
• Overview of the GTAP-RD, GTAP-E-RD, and GTAP-EP-RD Models
• Altertax for the GTAP and GTAP-RD Model
• become familiar with RunDynam
• distinguish the basics of dynamic global CGE
• identify the key elements of a baseline
• Overview of course software
• Baselines for Dynamic CGE Models
• know what projections are available to you
• understand why closures differ between baseline and policy scenarios
• GTAP-RD Data and Baseline Aggregator
• Loading data into RunDynam
• know how to perform a baseline simulation
• be exposed to other key elements of a baseline
• recognize what more you may need and how to process them
• Baseline Implementation with RunDynam
• Module Objectives - During the final week of phase 1, participants will have a chance to catch up on any incomplete coursework and pose any remaining questions pertaining to the material covered before moving onto the next phase of the course.
• Elements of a Baseline
• Overview of GTAP-RD Model and Closure Rules
• Information Sources for Scenario Development
• Discussion of Limitations
• Setting up an Application
• Building a Baseline Scenario
• Setting up Policy Scenarios
• Examining Results of the Policy Shocks
• GTAP-RD - Trade application focusing on the economic effects of trade agreements (e.g., CP-TPP and RCEP)
• GTAP-E-RD/GTAP-EP-RD - Environment application focusing on Paris agreement

Application

Prerequisites It is expected that applicants have undertaken courses on multi-region general equilibrium analysis or have completed a significant piece of analysis using a dynamic multi-region GE model or another, comparable, general equilibrium model.

Application Individuals interested in taking this course must apply on the GTAP website. All applications will be reviewed following the deadline. Those accepted into the course will receive an email including an invitation letter and details for registration and payment. Note that application does not guarantee acceptance.

Registration Rates The registration fees (in USD) for this course are detailed below and include all materials required during the course. The fees also cover daily coffee breaks, lunches, one reception, and one dinner during the onsite phase. The fees do not include a license to the current version of the GTAP Data Base, which is not required for the course. Participants wishing to purchase this must do so separately.

Rate Details and Eligibility Requirements

• Developing Country Rates - In order to be eligible for a discounted, developing country rate, applicants must currently be residing in a country listed on the " GTAP Developing Countries List ".
• Student Rates - Student rates are only available to current, full-time students. Post-docs and students concurrently working in any professional capacity are not eligible for these rates. Registrants may be asked to provide proof of current academic status.

Cancellations All cancellations must be emailed to Ginger Batta . Registered participants who are unable to participate will receive a 50% refund until December 29, 2024. No refunds will be made after this date. Deferments to later courses are not allowed.

System Requirements

Participants are required to provide their own computer for all phases of the course. Computers must meet the following minimum specifications. All software and files needed for the course not listed below will be provided.

Computer Requirements

• Macs can be used, but users must either be able to dual boot to Windows or install/access Windows through a virtual machine. Note that technical support for Macs will not be provided.
• 32-bit or higher
• i5 or higher processor
• 500MB free hard drive space
• Administrator access (or ability to have course software installed)

Other Requirements

• Reliable internet connection (broadband recommended)
• Microsoft Office
• Adobe Reader or Acrobat
• Zip utility program

Note on YouTube During this course, some online materials are hosted on YouTube; therefore, participants must have the ability to access YouTube in order to view these videos. If a participant is unable to access YouTube, they must have access to a VPN or remote computer as video source files will not be provided.

Travel Requirements

Vaccination Requirements All travelers should be up-to-date on routine vaccinations while traveling to any destination. For requirements specific to the United States, please visit the Centers for Disease Control and Prevention website.

Invitation Letters Invitation letters will be emailed to those selected to enroll in the course at the time of acceptance. Physical invitation letters will not be provided.

Visas Those selected to enroll who require a visa to enter the United States should review the U.S. Department of State's website for details on applying for and obtaining the appropriate visa immediately after being notified of their acceptance. Those who plan to apply for a nonimmigrant visa as a temporary visitor, can review visa appointment wait times online.

Participants are responsible for securing and paying for their own lodging. Reservation blocks have been secured at the following hotels. There are other West Lafayette/Lafayette area hotels where participants may choose to stay; however, availability is not guaranteed.

Transportation and Directions

Purdue University is located in West Lafayette, Indiana which is approximately 65 miles (105 km) northwest of Indianapolis, Indiana and 120 miles (195 km) southeast of Chicago, Illinois.

• Via Indianapolis - Those wishing to fly into the Indianapolis International Airport can rent a car and drive and to West Lafayette or take the Lafayette Limo or Reindeer shuttle services.
• Via Chicago - Those wishing to fly into the Chicago O'Hare International Airport can rent a car and drive to West Lafayette or take the Lafayette Limo , or Reindeer shuttle services.
• Campus Parking - Visitor parking is available in the Grant Street Parking Garage, adjacent to the Purdue Memorial Union, 101 N. Grant St, West Lafayette, IN.

*Reservations should be made in advance for all airport shuttles. Be advised that airport shuttles may not drop off or pick up directly from your hotel. Please be sure to look into these details when selecting a service.

Contact Information

Ginger Batta ( [email protected] ) Lead Program Manager Center for Global Trade Analysis Department of Agricultural Economics, Purdue University 403 Mitch Daniels Blvd., West Lafayette, IN 47907-2056 USA

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Regions & Countries

The Hardships and Dreams of Asian Americans Living in Poverty

Illustrations by Jing Li

Asian Americans are often portrayed as economically and educationally successful.

In reality, about one-in-ten Asian Americans live in poverty. Asian Americans also have the most income inequality of any major racial or ethnic group in the United States.

Without closely examining the diversity of Asian American experiences, it’s easy to miss the distinct stories of Asian Americans living with economic hardship.

To understand more about this population, Pew Research Center conducted 18 focus groups in 12 languages to explore the stories and experiences of Asian Americans living in poverty.

Table of Contents

Of the 24 million Asians living in the United States, about 2.3 million live in poverty . Many are working to overcome the economic hardships they encounter and achieve their American dream. But they face challenges along the way, from Asian immigrants grappling with language barriers to U.S.-born Asians navigating pathways to success.

In February 2023, Pew Research Center conducted 18 focus groups with adult participants from 11 Asian origin groups in different regions across the U.S. These are among the most likely Asian origin groups to experience economic hardship in the U.S. Focus groups included those whose approximate family income is at or below 140%-250% of the 2022 federal poverty line, depending on their location. Accompanying these focus group findings are results from a Pew Research Center survey about the hardships and dreams of Asians living in poverty, conducted from July 2022 to January 2023.

Some common themes that focus group participants shared include day-to-day financial difficulties, assumptions by others that they do not need help because they are Asian, and the importance of financial security in achieving the American dream.

Related:   1 in 10: Redefining the Asian American Dream (Short Film)

Focus groups also reveal that Asian Americans’ experiences with economic hardship differ by whether they were born in the U.S. or outside the country. Some immigrants not only experience difficulties making ends meet, but also face challenges that come with living in a new, unfamiliar country. These include learning English, navigating daily life in a new place and finding a stable job.

Even though U.S.-born Asians grew up in this country and speak English, they talk about the challenges of understanding what it takes to succeed in America. This includes getting the “right” education, getting access to the “right” knowledge and knowing the “right” people to succeed.

The findings in this data essay reveal what participants shared about their experiences with economic hardship, overcoming challenges, and their views of the American dream and social mobility in America.

The terms Asians and Asian Americans are used interchangeably throughout this data essay to refer to those who self-identify as Asian, either alone or in combination with other races or Hispanic identity.

The terms living in poverty, living near or below the federal poverty line and living with economic hardship are used interchangeably throughout this essay to refer to adults whose family income is close to or below the 2022 federal poverty line.

• For results on Asian adults from the focus groups, this refers to adults whose approximate family income is at or below 140%-250% of the federal poverty line. Thresholds varied by focus group recruitment locations to account for differences in the cost of living.
• For results on Asian adults from the survey , this refers to adults whose approximate family income falls at or below 100% of the federal poverty line.
• For data on the total U.S. Asian population from the U.S. Census Bureau , this refers to all Asian Americans whose family income is at or below 100% of the federal poverty line.

The terms federal poverty line and poverty line are used interchangeably to refer to the federal poverty guidelines published yearly by the U.S. Department of Health and Human Services.

The term U.S. born refers to people born in 50 U.S. states, the District of Columbia, Puerto Rico or other U.S. territories.

The term immigrant refers to people who were born outside the 50 U.S. states or the District of Columbia, Puerto Rico or other U.S. territories.

Asian Americans and financial struggles

Financial difficulties are part of many Asian Americans’ day-to-day lives, according to the 2022-23 survey. Asian adults were asked if they had experienced any of the following financial challenges in the past 12 months: gotten food from a food bank or a charitable organization, lost their health insurance, had problems paying for their rent or mortgage, had trouble paying for medical care for themselves or their family, had trouble paying their bills, or been unable to save money for emergencies.

“It got really bad to the point where a simple bowl of rice, we weren’t even able to afford that. So there were times where a bowl of rice would be a meal for all three meals, or we just simply did not eat.” NOLAN , FILM PARTICIPANT

The most common financial difficulty experienced is being unable to save for emergencies. More than half of Asian adults living in poverty (57%) said this had happened to them. By comparison, fewer Asian adults living above the poverty line (40%) said this.

Note: “Asian adults living in poverty” refers to survey respondents whose approximate family income is at or below 100% of the federal poverty line. Share of respondents who didn’t offer an answer or answered “no” not shown.

Source: Survey of Asian American adults conducted July 5, 2022-Jan. 27, 2023. “The Hardships and Dreams of Asian Americans Living in Poverty”

Some focus group participants shared how challenging it was for them to save because of their earnings and their family needs. Participants also talked about the urgency they feel to save for their children and retirement:

“I feel a bit helpless [about my financial situation]. … I don’t want to be in debt. I have to save money to raise my kids, but I don’t have money to save.”

–Immigrant man of Korean origin in early 30s (translated from Korean)

“[I save money] to go to Pakistan. Because I have four children … I needed five or six tickets, in case my husband traveled with us, and it required a lot of money. We used to save for one whole year, and when we were back from Pakistan, we were usually empty-handed. Then the cycle started again.”

–Immigrant woman of Pakistani origin in late 40s (translated from Urdu)

“You’re not going to work forever. No one is going to work forever. You want to have savings … for your rent [or] in case of medical bills [if] something happens. [You] might as well [save for] some trips down the while when you [can] travel still. But you’re not going to be working at 80 years old, are you?”

–U.S.-born man of Chinese origin in early 40s

“We were all four of us in one apartment, four siblings, plus the parents, so that’s six people in a house, which was very, very cramped.” SABA , FILM PARTICIPANT

Other common difficulties for Asian Americans living near or below the poverty line include having trouble paying their bills (42%), needing to get food from a food bank or a charitable organization (38%) and having problems paying their rent or mortgage (33%), the survey found. Smaller shares of Asian adults living above the poverty line say they experienced difficulties paying their bills (17%), got food from a food bank or a charity (6%) or had trouble paying their rent or mortgage (11%).

These findings were echoed in our focus groups, where participants recalled the stress and tension their families felt when things like this happened to them:

“My dad lost his car a couple of times. There was this one time where I remember it was nighttime. All of a sudden, a cop comes over to our home [with another person]. … And my dad was forced to give up his car to this stranger … because, I don’t know, he wasn’t paying off the car or something. And it was very humiliating, and my brothers wanted to get physical with that person because he was acting very arrogantly. My dad was able to eventually pay back the car and somehow get it back. But there were many times when we might not have had a roof over our heads.”

–U.S.-born man of Pakistani origin in late 20s

Asian immigrants face challenges navigating life and employment in the U.S.

Immigrant and U.S.-born Asians experience economic hardship in different ways. Asian immigrants in the focus groups discussed how a lack of English proficiency, navigating transportation and getting a good job all shape their experiences with economic hardship.

“I felt sad about life, didn’t know the language, didn’t know the roads. I had no friends, so I felt very sad.” PHONG , FILM PARTICIPANT (TRANSLATED FROM VIETNAMESE)

For example, not knowing English when they first arrived in the country created extra challenges when using local transportation systems and meeting basic daily life needs such as shopping for groceries:

“When we were very young, the most difficult thing we faced [after coming to the U.S.] was not being able to speak the language. Unless you lived in those times, you wouldn’t know. We didn’t know how to buy food. … We didn’t know the language and there was no interpreter available. … I didn’t know how to take the bus, I didn’t know where to go, or to which place they were taking me to school. When we were asked to go to the classroom, we didn’t know where to go. … There was no other way, because there was no communication.”

–Immigrant woman of Hmong origin in late 50s (translated from Hmong)

Language barriers also brought extra hurdles for Asian immigrants in the job market. Some focus group participants said it was hard to explain their skills to potential employers in English effectively, even if they had the relevant education or skills for the job and had learned English before they immigrated:

“After coming [to the U.S.], there were many problems to face, first … the language problem. We have read English … but we are not used to speaking. … We also had education … but since we can’t explain ourselves in English – what we can do, what we know … we are getting rejected [from jobs] as we cannot speak. … Another problem was that I had a child. My child was small. I could not go to work leaving him. At that time, my husband was working. He also had the same thing – he had education, but he could not get a good job because of the language. [As another participant] said, we had to work below the minimum wage.”

–Immigrant woman of Bangladeshi origin in late 30s (translated from Bengali)

Not wanting to be a burden influenced life choices of many U.S.-born participants

For many U.S.-born focus group participants, concerns about being a burden to their families shaped their childhoods and many of their life decisions:

“It’s difficult to talk to [my parents] because you grew up here and it’s just totally different from them growing up in Vietnam. … It’s the same like what [another participant] was saying, when you take off the burden to your parents, right? So I dropped out of college, just because I didn’t want them paying anymore. I just didn’t think that I was going to do or be anything in college, right? So I would rather work. So I started taking responsibility of my own and you start working really hard and you getting out of the house and helping them pay for bills.”

–U.S.-born man of Vietnamese origin in mid-40s

“My family’s struggling. Is education more important, [or] is working more important? I really felt that growing up because a lot of my friends, education – going to college and going to a techno school – wasn’t really on their radar, it wasn’t really something on their plan. I think talking to a lot of the folks and a lot of my friends during their time, they felt like they had to grow up to provide for their family or for you to find some type of income to kind of help their family. And so that really drove the direction of at least one of my friends, or a lot of my friends.”

–U.S.-born man of Hmong origin in mid-30s

Some U.S.-born focus group participants said that when reflecting on their childhoods, they could see the financial burden they had on their families in a way they did not realize as a child:

“At a certain point you become very aware of how much of a financial burden you are. You don’t ask for anything you want. Like, you don’t ask for prom. You don’t ask to join clubs. You don’t ask to go on field trips, things like that. You just know that it’s going to cause so much drain on your parents.”

–U.S.-born woman of Vietnamese origin in mid-20s

“[My parents] had like a lot of responsibilities, like … giving money back to their father, and then their sisters and brothers, helping them out back [in Pakistan]. … [My father] had to support us and then send money back constantly there. I didn’t know that until now, basically. … We would hardly see him. Maybe like on Sunday, we would see him a couple of hours. But it was on the weekdays, we would hardly see our father. He was always working.”

–U.S.-born woman of Pakistani origin in early 30s

Overcoming economic challenges

The survey found that when Asian adults living in poverty have needed help with bills, housing, food or seeking a job, about six-in-ten (61%) say they’ve turned to family or friends.

Some focus group participants mentioned that families and friends in their ethnic community were a great source of financial help. For others, the limited size of their ethnic community in the U.S. posed obstacles in obtaining assistance.

“My dad arrived in the U.S. when he was 26 years old, and I’m now 29 years old. … I have seven siblings and my parents who support me. And my parents didn’t have that, they didn’t have their parents to support them.” TANG , FILM PARTICIPANT

“It was very difficult during [my] study [at university]. … I had a scholarship, most of the part was scholarship; however, I had to pay something between $10,000 and $15,000 per semester. And I had to eat, I had to pay rent, I had to do everything. At the same time, there are many other things too, aren’t there? And there was always a stress about money. This semester is over now, how do I pay for the next? I had no clarity about what to do and not to do. In that situation, I approached those friends studying there or who came there a little earlier and were working to borrow money. … I [was] offered help by some friends and in finding a job and being helped for my needs.”

–Immigrant man of Nepalese origin in early 40s (translated from Nepali)

“We didn’t have a large Burmese community to ask for such help. It was not yet present. As we had no such community, when we had just arrived, we told close friends, got directions and went to ask for help.”

–Immigrant woman of Burmese origin in late 40s (translated from Burmese)

However, not all Asians living with economic hardship have asked for or received help. In the focus groups, participants shared why they or their families sometimes did not do so or felt hesitant. Fear of gossip and shame were mentioned multiple times:

“[I experienced financial difficulties after I first arrived in the U.S.] because I came here as a student. … It’s because I had to pay monthly rent and I paid for living expenses. I felt a little pressured when the monthly payment date approached. I had no choice but to ask my parents in Korea for money even as an adult, so I felt a sense of shame.”

–Immigrant woman of Korean origin in early 40s (translated from Korean)

“My cousin will [help me financially] without judgment. But, like, my aunt and elders – if it gets back to them [that I asked for help], it’s going to for sure come with judgment. And if I could figure it out myself, I will take the way without judgment.”

“To add on to what [another participant] said, if you go to the community [for help] or whatever, you know, by tomorrow everybody’s going to know it’s your problem.”

–U.S.-born woman of Pakistani origin in early 40s

Immigrants who came to the U.S. because of conflict are more familiar with government aid programs

Asian immigrants come to this country for a variety of reasons. In the focus groups, immigrant participants who came to the U.S. due to conflict or war in their origin countries referenced government assistance programs more often than those who came for other reasons.

This reflects a broader pattern among Asian immigrants overall: Those who came because of conflict or persecution have turned to federal, state or local governments for help with living expenses or employment more often than immigrants who came for economic or educational opportunities, according to the survey.

Focus group participants reflected on differences in the amount of government help available. Sometimes, they expressed a sense of unequal treatment:

“Vietnamese have this program where people got sponsored because of the war. So for other Asians, they feel that we are more privileged. Because from what I know, the Koreans and the Japanese, they must have money in order to come to America. As for us, we can come here through the refugee program, we can come here through the political program. They feel that we got more preferential treatment than other Asians in that regard.”

–Immigrant man of Vietnamese origin in early 40s (translated from Vietnamese)

“During the pandemic, I had to go through housing assistance and everything [to pay my rent]. Something like that with EBT [Electronic Benefits Transfer], how they send you stimulus checks. Korea doesn’t have any of that stuff.”

–U.S.-born woman of Korean origin in late 40s

“I think my community is relatively traditional. Because 20 years ago, we went straight to Chinatown fresh off the plane [after immigrating]. I still remember being in [the local] hospital, lots of social workers were there to help out, including with a medical insurance card, and applying for service, most importantly medical insurance. We all went to [the same] street. We relied on other Chinese people.”

–Immigrant man of Chinese origin in late 30s (translated from Mandarin)

Family ties contribute to increased awareness of government programs. For example, when asked how they learned about using government programs for help, some U.S.-born participants said:

“[I learned about the government programs from] my parents. I had to translate for them.”

–U.S.-born woman of Cambodian origin in mid-30s

“I was working at [a smoothie shop], and I was 17 and a half. … My college loan was like $50,000 [and I was] making $12.50 [an hour], how the hell am I supposed to be paying that month to month? Because my month-to-month was damn near $300, $500. My $12.50 an hour does not even cover for it, any of it, whatsoever. And, you know, me [having] been kicked out of home … I was living with my aunt. … I don’t want to burden her. So I had to go and ask her. She told me, ‘Hey, you should go and apply for food stamps.’”

–U.S.-born woman of Laotian origin in mid-30s

U.S.-born and immigrant focus group participants hold different views on education’s role in achieving a better future

“My friend, he started out at internship … I was too naive. I was laughing at the time, like, ‘Man you spend your time? You took buses there every day? No pay?’ … I just didn’t know the big picture behind [it]. I wish I could plan for [it] just like how they did.” PHUOC , FILM PARTICIPANT

Reflecting on what could lead to success and achieving the American dream, focus group participants who were born in or grew up in the U.S. emphasized the value of getting connected to the “right” opportunities:

“[You don’t have] to go to school to be successful. I mean, they say there are people who are book smart and just people who are street smart, you know. [As long as you] grow up and you know the right people … networking on the right people to get into things. Or, you know, the right people to do the right things to get to where you want to be in life.”

–U.S.-born man of Hmong origin in late 20s

Other participants said it would have helped if their families had a deeper understanding of how the education system prepares them for good careers:

“I feel if my parents were educated and they could have guided me in the right direction [for college] – although, they tried their best. I’m not blaming them. But, you know, if I had someone of a more academic background who knew the system … I will try my best to help my daughter out in college or help her choose what her major is going to be. [My parents couldn’t provide] that kind of help that really helped me in choosing my major. … And so I think just the background that we come from was not the best – or not having the full grasp of this system. … Versus someone who’s had parents here for multiple years, and their parents are now telling them, like, ‘Hey, this is not the right decision for you. Try doing this. This will be better in the long run.’”

–U.S.-born man of Pakistani origin in early 30s

Some also said firsthand knowledge of how to invest and how the U.S. financial system works would have helped:

“[In] the newer generation, we have access to learn all the things we need to, right? [I watch videos] that talk about, like, ‘These are the things you need to do in order to be financially successful. You need to invest your money, get into stocks,’ and stuff like that. And I know that not even 1% of my Hmong community knows anything about that stuff. … So I think we can be more financially successful, including myself, if we were to look more deeply into those things.”

–U.S.-born woman of Hmong origin in late 20s

“If you’re educated and know how, like, let’s say investments work, if you know how that’s done and then you apply it actually going through [someone] like investors or even stockbrokers, then you’ll see the fruits of your labor, or at least experience that, as opposed to not even having the knowledge or even the experience to begin with.”

–U.S.-born man of Cambodian origin in mid-30s

Some participants shared that even when they have some knowledge of financial institutions, they feel the system is working against them:

“I think systematic racism [is a barrier to achieving the American dream]. … I mean, if you own a car, you got to get the bank to approve you. … And they charge people with, like, no credit the highest fee, the most percentage, which are a lot of the folks [like] us trying to achieve the American dream. And then we go to neighborhoods that have the highest crime rate, we also have the most premiums. … And so I think that, one, we’re paying a lot more with much less … the system [was] set up well before minorities, and I think we’re pretty much going to fall behind.”

Many focus group participants also see the value of education, especially a college one, in leading toward a better future and achieving the American dream:

“[When I think of the American dream, it means] if you work hard enough, you can succeed. … You can get an education or a higher education. Then you have so many choices here and exposure to so many ideas and concepts that you wouldn’t otherwise.”

“The bachelor’s degree was important to me in the sense that I needed it so that I could apply for the jobs I wanted. … I guess it made things a bit easier.” THET , FILM PARTICIPANT (TRANSLATED FROM BURMESE)

But this sentiment resonated more with immigrant participants than those born in the U.S.:

“It is the education and the relevant knowledge I think that our Hmong people must have. We’ve been living in this country for the last 45 years. I think that to live in this country, it is very important for some people. I do not think everyone has a ‘lawyer’ or a ‘doctor’ in their house. If it happens, maybe we will reach our goal and the poverty will gradually disappear from our lives.”

–Immigrant woman of Hmong origin in mid-30s (translated from Hmong)

“I think if I obtain any degree, I would perhaps be able to do something.”

Assumptions about Asians hurt their chances of overcoming challenges

Participants shared that other people’s assumptions about Asians complicate their experience of living with economic hardship. Asians are often characterized as a “model minority” and portrayed as educationally and financially successful when compared with other groups.

Some participants shared how the assumption that all Asians are doing well hurt their ability to seek help:

“I have a daughter … she’s the only Asian in class. … Everybody tends to think, ‘She’s Asian; she’s so smart; her mommy has money. So you got to invite her to your birthday party because her mom is rich. [Her] mom will buy you a present.’ … I’m not rich, but because we’re Asian … she’s invited to all these parties.”

–U.S.-born woman of Hmong origin in early 30s

“What I can assume is that outside of our community, especially at the government level, [including] state level and central federal level here, we are missing out or not eligible for benefits. In their opinion, we are rich, no matter if we are working or not. [They may think] our stories may not be genuine. They may think we are making up a story [if we apply for benefits].”

Striving for the American dream

Freedom was a recurring theme in how focus group participants define their American dream. Two aspects were mentioned. The first was freedom from debt and stress over making ends meet, such as paying for everyday basic needs including rent and food. The second was the ability to make life choices freely without financial constraints, enabling them to live the life they aspire to.

Reaching the American dream

Half of Asians living near or below the federal poverty line say they believe they have achieved the American dream or are on their way to achieving it, the survey found. This includes 15% who say they have achieved it and 36% who say they are on their way. By comparison, among those living above the poverty line, 27% say they’ve achieved the American dream, and another 46% say they are on their way.

“Before I came to America, I had never heard of the American dream. … But because I was able to at least bring my son along, not only my life but also his education has improved significantly.” THEIN , FILM PARTICIPANT (TRANSLATED FROM BURMESE)

Among focus group participants, many were optimistic about reaching the American dream for themselves:

“[To me, the American dream is] the opportunity to come to America. I’ve learned a lot after reaching here. And I’ve been able to help my parents and relatives. Despite facing some troubles here, I’ve [provided them a] little financial assistance. I would’ve been unable to help them if I had been in Bhutan.”

–Immigrant woman of Bhutanese origin in late 40s (translated from Dzongkha)

Some participants were also hopeful that the next generation can achieve their American dream, even when they themselves are not there yet:

“When I think about the American dream, I look back at myself, because I belong to the first generation that came to this country. We all started very late. I know that this country will help you, but really it will not be easy for us. … What I think will help me to be happy is to ‘reach the American dream.’ If I can’t achieve it, then I will support my children so that they can reach the dream and I will be happy with them. I will give my children money to help them study.”

“If I can’t get [the American dream] for myself, it is okay. No matter how I am, I’ve already reached half of my life. But I’ve done as much as I can do for [my children], so my responsibility is done. If it’s their turn, I believe they will be able to do all that I couldn’t. I believe it.”

“I would like to own a home one day. And at this rate, and like many of my peers, that’s not a reachable goal right now. I don’t see it being a reachable goal for me for a very, very, very long time.” TANG , FILM PARTICIPANT

Still, the survey found that 47% of Asian adults living in poverty say the American dream is out of reach for them, higher than the share among those living above the poverty line (26%). Not all Asians living in poverty feel the same way about achieving the American dream, with U.S.-born Asians in the focus groups being less optimistic about reaching the American dream than immigrant Asians.

“In a certain era with the U.S. and the immigrants coming, the American dream [was] you come, you study, you do this, you can climb up the ladder, etc., etc. That was the big American dream. And I think there was a period where that was possible. Not any longer.”

Others also shared worries about their prospects of reaching the American dream because of different immigration histories and economic concerns such as inflation:

“I think I was conditioned to think too small to have the American dream. … Vietnamese Americans came over here at a very specific time. … There were Chinese Americans that came here like centuries ago, and they had the time to build generational wealth. We know that Vietnamese people came here in the ’70s. That’s not enough time to grow generational wealth.”

–U.S.-born woman of Vietnamese origin in late 20s

“I have kids. … They’re spoiled. … Now with inflation, houses are more expensive now [than 10, 20 years ago], right? Let’s say 20 years from now, when they buy a house, [the American dream] is going to be unachievable, you know what I mean? Like, unless they are a TikTok star or an entertainer or some kind. … [It’s] going to be tough.”

–U.S.-born man of Chinese origin in late 30s

Freedom from debt

For many participants, being debt-free is important to their vision of the American dream and promotes a life with more financial stability and independence:

“[If I could choose one dream in America, it would be to have] no debt. … When buying something, they always say, ‘Be careful, or you’ll be in debt.’ … And that is what got stuck in my throat.”

–Immigrant woman of Laotian origin in mid-30s (translated from Lao)

“[I haven’t achieved the American dream because I’m not] debt-free, you know, just trying to have extra money, instead of living paycheck to paycheck.”

“[My dream in America is] to be independent, for example, we always lived with the money of mom and dad. One is to be independent when you come here. Let me earn so much money that if I go to the store and buy something, I don’t even have to look at the price tag. That [is] my dream.”

–Immigrant woman of Nepalese origin in early 40s (translated from Nepali)

Participants shared that being debt-free also means having less stress and worry about making ends meet so that they can have extra resources and bandwidth to help their families:

“[The most important thing to achieving the American dream is] being debt-free and having real estate and income steadiness. … If you have rent income, you’re not trading in your time for money, so you have real estate. … You’re not stressing, you have time for your kids more, and your family. You’re probably a little bit happier.”

–Immigrant man of Cambodian origin in mid-20s

“The main thing is that I want to fully support my father and mother, and that I don’t have to worry about [how] I will support myself, or how I will pay my house rent. This is my number one.”

–Immigrant woman of Bangladeshi origin in late 20s (translated from Bengali)

For others, having a stable job is an important step to reaching the American dream:

“I want to have a job, and if I have a job, I’ll have money. I’m only working three and a half days a week right now, and I want to work more. I want more jobs the most, right now. I don’t need anything in America. Just a job.”

Freedom to dream

Focus group participants mentioned having the financial ability to not only meet their basic needs, but also pursue their dreams. Asians born in the U.S. mentioned the freedom to chase one’s aspirations without financial constraints more often than immigrants. Regardless of nativity, the ability to live the life they want is fundamental to many focus group participants’ definitions of the American dream:

“[When] everyone around you is immigrants and you’re all just trying to survive, the only thing you’re trained to think about is survival. But you’re not thinking about investment. Like, when you grow older and you start thinking, ‘Okay, I need to spend money to make money,’ that’s when you start thinking bigger. Yeah, I’m not just thinking about like having one home, I want 10 homes.”

“[Financial] stability is you have nothing but you could survive. [Financial] freedom is you have enough that you can do anything you want. That’s my financial freedom.”

“As it was so hard at that time … what motivated you to keep going and work so hard?” “My strength, my mindset was I wanted to earn money so that my children could have a bright future.” PHUOC AND PHONG , FILM PARTICIPANTS (TRANSLATED FROM VIETNAMESE)

The American dream, to some focus group participants, is about more than financial achievements. Finding happiness and helping others, ultimately leading them to live the life they desire, are key parts of their American dream.

“I want to thank [another participant] for saying ‘self-actualization,’ because personally I think it’s really powerful to be able to know what you want. Because then you’ll know what kind of job you want, what kind of house you want, whether you want to be in politics or not. Like, loving yourself and understanding yourself to your core, then that will be the [deciding factor].”

–Immigrant man of Cambodian origin in early 40s

“I think for me [the American dream] is that there is a house for me, with no interest, I do not owe any loan, my parents could live there comfortably, their struggle is over, and also I have enough … to be able to do something for Pakistan later [in life], God willing.”

–Immigrant woman of Pakistani origin in mid-20s (translated from Urdu)

“[Some people define success as having] lots of money, kids, cars, right? But that’s not really … what I would consider success. Success is something that – does it make you happy? … Are you happy every day going to work? Does it make you happy? When you come home, are you happy?”

About this project

Pew Research Center designed these focus groups and survey questions to better understand the experiences of Asian Americans living with economic hardship. By including participants who are among the Asian origin groups most likely to experience poverty, the focus groups aimed to capture, in their own words, their experiences and challenges in America today. The discussions in these groups may or may not resonate with all Asians living in poverty in the United States.

The project is part of a broader research portfolio studying the diverse experiences of Asians living in the U.S.

Survey and demographic analysis of Asians living in poverty

For a comprehensive examination of Asian adults’ experiences with economic hardship from Pew Research Center’s 2022-23 survey of Asian Americans, as well as a demographic analysis of the U.S. Census Bureau’s 2022 American Community Survey, read “Key facts about Asian Americans living in poverty.”

Videos throughout this data essay illustrate what focus group participants discussed. Individuals recorded in these video clips did not participate in the focus groups but were selected based on similar demographic characteristics and thematically relevant stories.

Watch the short film related to the themes in the data essay.

Methodological note

This multi-method research project examines the many facets of living with economic hardship among Asian Americans today.

The qualitative analysis is based on 18 focus groups conducted in February 2023 in 12 languages with 144 participants across four locations. Recruited participants had an approximate family income that is at or below 140%-250% of the federal poverty line, depending on the location. More information about the focus group methodology and analysis can be found in the focus group methodology .

The survey analysis included in this data essay is based on 561 Asian adults living near or below the poverty line from Pew Research Center’s 2022-23 survey of Asian Americans, the largest nationally representative survey of Asian American adults of its kind to date, conducted in six languages. For more details, refer to the survey methodology . For questions used in this analysis, refer to the topline questionnaire .

Acknowledgments

Pew Research Center is a subsidiary of The Pew Charitable Trusts, its primary funder. The Center’s Asian American portfolio was funded by The Pew Charitable Trusts, with generous support from The Asian American Foundation; Chan Zuckerberg Initiative DAF, an advised fund of the Silicon Valley Community Foundation; the Robert Wood Johnson Foundation; the Henry Luce Foundation; the Doris Duke Foundation; The Wallace H. Coulter Foundation; The Dirk and Charlene Kabcenell Foundation; The Long Family Foundation; Lu-Hebert Fund; Gee Family Foundation; Joseph Cotchett; the Julian Abdey and Sabrina Moyle Charitable Fund; and Nanci Nishimura.

We would also like to thank the Leaders Forum for its thought leadership and valuable assistance in helping make this survey possible.

The strategic communications campaign used to promote the research was made possible with generous support from the Doris Duke Foundation.

This is a collaborative effort based on the input and analysis of a number of individuals and experts at Pew Research Center and outside experts.

• In this data essay, definitions of “living near or below the poverty line” and related terms differ between survey respondents and focus group participants. Refer to the terminology box for details. ↩

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About Pew Research Center Pew Research Center is a nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping the world. It conducts public opinion polling, demographic research, media content analysis and other empirical social science research. Pew Research Center does not take policy positions. It is a subsidiary of The Pew Charitable Trusts .

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