The Office of Economics develops and uses state-of- the-art economic techniques, models, and other theoretical and technical economic applications to assess the performance and global competitiveness of U.S. economy and the impact of international trade and trade policies on the U.S. economy. The Office of Economics applies many kinds of economic models and analyses to support USITC investigations, as well as requests for technical assistance and analysis from the Executive Office of the President, executive branch agencies, the Congress, and the public. The Office of Economics collects economic data, uses applied simulation and econometric models, monitors regional and multilateral trade agreements, and conducts analysis on many foreign countries and their trade policies.
The Office of Economics comprises 3 divisions which have the following responsibilities:
- Research Division - Provides expertise for the impact analysis of trade and trade related economic issues, using, among other tools, econometrics and simulation models such as general equilibrium and partial equilibrium models.
- Country and Regional Analysis Division - Provides expertise on foreign economic regimes and regional and multilateral trade agreements.
- Applied Economics Division - Provides economic expertise to import injury investigations, including pricing analysis and evaluation of economic submissions by the parties to an investigation.