This presentation will provide participants with an overview of economic modeling: why modeling is necessary to understand and estimate the influence of public policies on household decisions and outcomes, the different types of modeling approaches and data sources used, the outputs from economic models and how they can be used to inform both policy design and policy evaluation, and how economists can evaluate and improve upon the quality of their own models. Penn Wharton Budget Model’s own models and analyses will be referenced to provide examples and policy context.

This online briefing counts as the third “core” (required) lesson in PWBM’s Certificate for Policy Professionals. A recorded version will be made available later for those who cannot attend live.

Instructor: Professor Kent Smetters is the Boettner Chair Professor in the Wharton School’s Business Economics and Public Policy Department, a professor of insurance and risk management, and research associate at the NBER.

Moderator: Diane Lim, PWBM Director of Outreach and Senior Advisor.

Please contact us at budgetmodel@wharton.upenn.edu if you have any questions about the event.