Center of Excellence for Economic Statistics

Examining new and upcoming problems in measuring the economy is the focus of the Centre of excellence for economic statistics.

A center of knowledge that is unrivalled in the world. We think economic measurement should take center stage while establishing monetary policy and enhancing economic outcomes.

ONS has created a center of expertise for examining current and upcoming problems measuring the modern economy.

The (NIESR) is the umbrella organisation for the Economic Statistics Centre of Excellence (ESCoE).

It includes King’s College London, the innovation agency Nesta, the University of Cambridge, the Warwick Business School (University of Warwick), and Strathclyde Business School. Collaboration between researchers and institutions, as well as with the ONS, has a long history.

The center of excellence for economic statistics offers the potential for core methodological and conceptual study, including the best approaches to handle the difficulty of measuring new kinds of economic activity in a globalized world, satisfying the demands for municipal, city, and regional statistics, and solving the productivity riddle.

Additionally, the ESCoE will serve as a forum for constructive debate and exchange regarding official statistics, which will help advance the creation and methodology of ONS economic statistics.

The Economic Statistics Center of Excellence primary responsibilities (ESCoE)

The Following Are the Primary Duties of the ESCoE:

1. Providing analysis and research helps ONS fulfil its mission of producing top-notch economic data.
2. Produce research and conceptual work that impacts the worldwide standard-setting agenda. It enabling ONS to have a more substantial say in developing such standards.
3. conduct an international conference each year to encourage the exchange of best practices and world-class criticism of the ESCoE’s work,
4. allow the ONS and academic community to collaborate, and work with the ONS Data Campus to create innovative methods

The UK’s first-ever dedicated academic center of excellence for economic measurement and one of only a few globally, Escoe was founded in 2017 with assistance from the UK Office for National Statistics.

Following the advice of Professor Sir Charles Bean’s Independent Review of UK Economic Statistics. Which has released in March 2016, was founded.

The review advised that “ONS should develop a new center of excellence to examine existing. And future difficulties in measuring the contemporary economy in partnership with relevant partners in academia and the user community.”

The center of excellence for economic statistics wants to facilitate a cultural shift in how economic data are deliver by becoming a global center of reference for measuring research.

Our strategy is obvious. It entails developing knowledge, enhancing cooperation among statisticians, academics, policymakers, and other data consumers.

And raising awareness of problems with economic measurement. We can do this by tackling theoretical and practical issues while explaining the modern economy.

Also utilising our extensive global network of Research Associates and Affiliates. And funding the next generation of professionals.

In addition, we do our research in consultation with statisticians and foster productive debate through workshops and conferences. Delivering our research programme involves a large number of people.

The regular publication and distribution of research papers through Escoe Publications, as well as the delivery of a variety of events.

Such as Research Seminars, Workshops, Conferences (including the annual Escoe Conference on Economic Measurement). As well as sporadic discussion and networking events, serve as the foundation for ESCoE’s activities.

Conclusion

They help early career Research Associates, PhD students, and stakeholders through secondment opportunities to motivate.

And nurture the next generation of accomplished economists and statisticians. They create and maintain a center of unrivalled knowledge on economic measurement and invite others to collaborate with them.