10 am Friday 2 November
| Erica Seville, Garry McDonald and Michele Daly,
MERIT (Measuring the Economics of Resilient Infrastructure Tool) – Research Opportunities and Use
For many of us, the economy can be a bit of a black box. We know of the drivers that influence economic activity, but how these interact and how the economy actually responds is inevitably complex. Throw various kinds of disruption into the mix (such as a water outage, a power cut, or even an earthquake) and anticipating how the disrupted economy will respond becomes even more challenging. Here’s where MERIT can help. MERIT is an integrated decision-support tool, that models the socio-economic impacts of disruption events. It takes all the moving parts of the economy, such as commodity prices, household spending, labour availability, industry output, and GDP, and models how each component changes over time. By understanding the inner workings of a disrupted economy, it enables us to explore ways to reduce the impact of future shocks. In this presentation we will provide an overview of the MERIT tool, the types of projects it has been used in, and reflect on our journey thus far in applying the MERIT suite of tools to real-world challenges. We will also discuss future research opportunities for others to engage in the ongoing MERIT development process and to use MERIT as part of their research.
For details on how to join the seminar – return to the 2018 Seminar series home page link