In this video lecture module, Adrienne Johnson, Director of Research for Economic Development Growth Engine for Memphis and Shelby County (TN), lays a foundation for economic modeling and a deeper understanding of your regional economy. Specifically, Johnson examines how researchers define and measure a region’s economy using industry specialization and diversification.
The module addresses the following key questions:
Answering these questions will prepare you to perform economic modeling, an essential analytic skill for your research.
Johnson explains and demonstrates the following:
The next module will provide you with an opportunity to gain greater familiarity with this analytic tool–for both identifying/measuring local specializations and gaining insights into the range of a region’s economic diversification.