In a highly economically interconnected world, the development of new industrial strategies require a clear understanding of how changes in one part of the economy ripple across others. Economic modelling would enable a greater understanding of the impacts of tariffs, trade policy adjustments, or investment incentives on various industrial sectors, helping to inform both direct and indirect effects.
The complexity of global trade and finance means that domestic economic outcomes are deeply influenced by international dynamics—exchange rates, commodity prices, capital flows, and foreign market conditions. Access to a fully integrated global economic model, where individual country models are linked through shared assumptions about trade volumes, competitiveness, and financial variables, is essential for better understanding how the Canadian economy will respond to the rapidly changing trade environment.
ISED is seeking a subscription to economic modelling services that include a global economic model integrated with a Canada-specific model. ISED also requires customer support and training sessions from the vendor, given the complexity of these types of models and the necessity to train staff in advance of being able to run ISED-specific scenarios.
