science

National Economic Research Associates

National Economic Research Associates is a science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand National Economic Research Associates rather than just read about it. In short: The National Economic Research Associates (NERA) is an American economic consulting firm headquartered in New York City. Founded in 1961, NERA was the first consulting firm dedicated to methodically applying microeconomic theory to litigation and regulatory matters.

Key takeaways

National Economic Research Associates belongs to science; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect National Economic Research Associates to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of National Economic Research Associates from memory before moving on to harder problems.

Reference excerpt

The National Economic Research Associates (NERA) is an American economic consulting firm headquartered in New York City. Founded in 1961, NERA was the first consulting firm dedicated to methodically applying microeconomic theory to litigation and regulatory matters. The firm applies econometric and statistical analysis to provide strategy, studies, reports, expert testimony, and policy recommendations for government authorities, law firms, and corporations.

Offices The company is based in the United States and has offices in North America, Europe, Asia, and Australia. NERA employs more than 500 professionals, most of whom have advanced degrees in economics, finance, law or business. NERA is a part of the Oliver Wyman Group, a subsidiary of the Marsh & McLennan Companies, a global professional services firm.

Recognition NERA ranked second in Vault's 2018 survey of the top firms in economic consulting. It ranked third in the 2022 ranking, after BCG and Bain. The New York Times called it "one of the country’s oldest and best-known economic consultancies." Laurence Tribe, professor of constitutional law at Harvard Law School, said that NERA is "one of the world's foremost economic consultancies." In June 2017, President Donald Trump cited statistics from a study by NERA in a speech announcing his plan to pull the United States out of the Paris Agreement. The study, which was prepared to measure the economic impact of hypothetical regulatory actions necessary to meet the goals of the Paris Agreement, was criticized for overestimating the costs of reducing greenhouse gas emissions. In a response, NERA said that the Trump Administration selectively used results of the study that mischaracterized its purpose and analysis.

Worked examples

Example 1 — a first encounter with National Economic Research Associates

Start with the simplest possible case. Write down what National Economic Research Associates claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to National Economic Research Associates before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about National Economic Research Associates ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of National Economic Research Associates

In research: National Economic Research Associates appears in science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses National Economic Research Associates in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: National Economic Research Associates is common in secondary-school and first-year university syllabi. It links to neighbouring topics Consulting firms established in 1961, Consulting firms of the United States, International consulting firms, so understanding it makes those chapters shorter.
In everyday life: Look for National Economic Research Associates outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

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How to study National Economic Research Associates in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what National Economic Research Associates means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain National Economic Research Associates out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is National Economic Research Associates in simple terms?

Why does National Economic Research Associates matter?

Because it connects several science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study National Economic Research Associates?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on National Economic Research Associates.