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Economics is a discipline concerned with the consumption, production, and transfer of wealth by and among individuals (microeconomics) and communities or nations (macroeconomics); subspecialties range from economic development and planning to health economics and international economic relations. RAND's many economists contribute to multidisciplinary research projects by exploring the intersections where economics informs social, military, and governmental policy decisions.

Commentary
The Global Movement Against China's Economic Coercion Is Accelerating
There is much the West can do to push back against Chinese economic pressure, and many reasons to do so. Doing so is a core interest of the United States, which now places itself in competition with China over the shape of the international order.
Jun 9, 2023
Essay
Insomnia: The Multibillion-Dollar Problem Sapping World Productivity
From the doctor's office to the office at work, good sleep is often overlooked as a key part of well-being. We pay for that. Chronic insomnia is associated with an average loss in workplace productivity of 45–54 days, resulting in estimated annual losses in GDP of more than $200 billion.
Sep 8, 2023

Explore Economics

Report
China's Quest for Global Primacy
U.S.-China relations have entered a new phase characterized by sharpening competition. Beijing's international and defense strategies aim to outcompete the United States and establish primacy in the Asia-Pacific region and leadership of the world order. What does this mean for U.S. policy?
Jun 7, 2021
Commentary
An Economic Blueprint for North Korea
It would be simplistic to think that developing detailed blueprints for economic development in North Korea could on its own cut through decades of conflict and mistrust, triggering political and economic reform. But by expanding the terms of the debate it might move the needle on peace.
Jun 4, 2021
Report
From Hermit Kingdom to Open for Business
When the situation in North Korea becomes conducive to foreign investment and development, what might it take to kick-start the country's economy?
May 25, 2021
Commentary
Sanctions Targeting Russia's Defense Sector: Will They Influence Its Behavior?
In response to recent Russian cyber espionage, interference in U.S. elections, and the poisoning of opposition leader Alexei Navalny, President Biden announced a new round of sanctions and expulsions of Russian officials. But will these sanctions hurt Russia's defense industry enough to curb the Kremlin's behavior?
May 20, 2021
Journal Article
The Flag Lags but Follows: The PLA and China's Great Leap Outward
This chapter explores how China may protect its overseas interests, analyzes PLA thinking about the security dimensions of the Belt and Road Initiative, and considers three case studies on what securing China's overseas interests involves in concrete terms.
May 18, 2021
Commentary
How America Can Help Re-Shape the Post-Soviet Countries
For the post-Soviet states, development could bring better living standards and social conditions and promote more stable politics and inclusive governance. The West would make the most difference by focusing on mid-ranked states, especially those undertaking reforms.
May 17, 2021
Commentary
U.S. Military Power Comes from More Than Just the Defense Budget
With U.S. domestic challenges ranging from the ongoing pandemic to long-delayed infrastructure investments, now is a good time to consider spending that provides both domestic and national security benefits. Infrastructure spending offers one such example.
May 10, 2021
Report
How Does Defense Spending Affect Economic Growth?
Prioritizing defense spending over infrastructure investment might undermine economic growth. Given that the size and health of the U.S. economy are ultimately the basis for the nation's military power, policymakers should consider that the economic effects of defense spending have consequences for long-term security.
May 7, 2021
Multimedia
Expert Insights: U.K. Public Preferences for Funding NHS and Social Care
Jon Sussex, chief economist at RAND Europe, is joined by senior analyst Hui Lu in a discussion about their study on how the U.K. public thinks funding for the National Health Service (NHS) and social care should be raised.
Apr 30, 2021
Journal Article
Supporting Prioritisation of Mental Health Funding Related to Urgent and Emergency Care in the East of England: A Guide for Integrated Care Systems and Sustainability and Transformation Partnerships
This guide has been prepared to help ICS/STPs with determining spending priorities within mental health urgent and emergency care.
Apr 30, 2021
Multimedia
RAND Remote: Changing Unemployment and the Post-Pandemic Workforce
In this RAND Remote conversation, Kathryn Edwards discusses ways the pandemic is changing how we treat unemployment. She describes options for workforce recovery, including drawing women workers back into the labor force.
Apr 29, 2021
Research Brief
A New Approach to Measuring Income Inequality
A new method for measuring income inequality reveals that, from 1975 to 2018, the only group for which actual income gains exceeded U.S. GDP growth was the group near the 99th percentile of income distribution.
Apr 29, 2021
Commentary
Biden's Child Tax Credit Will Bring Lifetime of Improvement
The American Rescue Plan is expected to cut child poverty in the United States by more than 40 percent. The benefits are important to families today and could be compounded over the hundred years these children are expected to live.
Apr 28, 2021
Commentary
China Does Not Have to Be America's Enemy in the Middle East
China and Iran made a deal in which China promised to boost its investment in Iranian infrastructure in exchange for a steady supply of oil. This uptick in Chinese influence does not necessarily erode U.S. power in the region. The United States may even find overlapping interests with China since both have a stake in containing conflicts and instability.
Apr 19, 2021
Research Brief
U.S. Prescription Drug Prices Are 2.5 Times Those in Other Countries
U.S. prices for prescription drugs were 250 percent of those in 32 comparison countries combined. Brand-name drugs drive the disparity: U.S. prices for this category were 344 percent higher. However, U.S. prices for unbranded generics were lower than those in other countries.
Apr 14, 2021
Commentary
Abraham Accords Offer Historic Opportunity to Spur Mideast Growth
The Abraham Accords have heralded a dramatic shift in the relationship between Israel and the Muslim nations of the world. While these accords represent a major political breakthrough, they also represent a possible new chapter in the region's development: away from conflict and toward a shared economic vision of prosperity.
Mar 25, 2021
Journal Article
Improving Preferential Market Access Through Rules of Origin: Firm-Level Evidence from Bangladesh
This paper studies how rules of origin in potential export markets influence the export behavior of firms in least-developed countries.
Mar 23, 2021
Journal Article
Rules of Origin and Trade Preference Utilization Among Least Developed Countries
This article assesses how the utilization of trade agreements responds to rules of origin revisions that allow for more foreign content in exported products.
Mar 23, 2021
Blog
Game Theory to Help the Vaccine Rollout, Abraham Accords, Telehealth: RAND Weekly Recap
This weekly recap focuses on how game theory can help the COVID-19 vaccine rollout, potential economic benefits of the Abraham Accords, telemedicine use during the pandemic, and more.
Mar 19, 2021
Commentary
Will States Take the Wrong Lesson About Unemployment Insurance's Failings?
By shoring up all state-run Unemployment Insurance programs equally, Congress set a precedent that it will intervene to raise benefits at no cost to state trust funds. From the states' perspective, why hike taxes on businesses to maintain robust unemployment benefits if Congress will step in when the economy goes south?
Mar 18, 2021

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RAND Topic:
Economics

Research conducted by

Researcher Spotlight

Shannon Prier

Quantitative Analyst

Shannon Prier is a quantitative analyst at RAND and a professor of policy analysis at the Pardee RAND Graduate School. She is interested in macroeconomics, econometrics, supply chains, logistics, and homeland security. She has worked in diverse topic areas at RAND including chemical security…
Austin Smidt

M.Phil. Student, Pardee RAND Graduate School, and Assistant Policy Researcher, RAND

Austin Smidt (he/him) is an M.Phil. student at the Pardee RAND Graduate School and an assistant policy researcher at RAND. His research interests include water economics, infrastructure sustainability and resilience, climate change, economic development, labor economics, game theory and…

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