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Strathclyde Business School

Analysis project yields benefits

By Chanyong Sim - Posted on 1 November 2018

MSc Economics student Chanyong Sim took part in a project for his dissertation involving the Fraser of AIlander Institute and Trades House of Glasgow. Here, he focuses on the benefits such an opportunity allowed him.

I was nominated as a winner of Trades House of Glasgow’s “Deacon Convenor’s Scholarship” 2017-18 and worked on a dissertation project during the summer to look at the economic contribution of Trades House on Glasgow and Scotland. I received excellent support from the Trades House and supervision from Fraser of Allander Institute.

It was a great honour for me to cooperate with the Fraser of Allander Institute and Trades House of Glasgow, a charitable organisation with a great history which makes an outstanding contribution to Scottish economy. I really appreciate the opportunity provided to me by both Strathclyde Business School and the Trades House.

This was one of the excellent opportunities offered on the MSc courses in Economics at Strathclyde this year. I know a number of my colleagues have also worked on projects in close tandem with public and private sector organisations.

The analysis of Trades House’s economic contribution focused on two parts: i) the economic contribution of both operating expenditure from 2016/17 and capital expenditure from 2004/05 to March 2018 on the Scottish economy and ii) the distribution of donations awarded by Trades House.

In the first part of the analysis, the economic contribution of Trades House on Scottish GDP and employment opportunities was measured. The operating and capital expenditure of Trades House was categorised based on industries and disaggregated from the Scottish input-output table. By doing so, both direct and spill-over impacts from Trades House’s expenditures were captured. The expenditure data was provided by the Trades House.

The second part of the analysis focused on the beneficiaries and grants awarded by the Trades House. Through analysis on postcodes of beneficiaries and level of deprivation, the impact of the grants was examined. Scottish Index of Multiple Deprivation (SIMD) and postcodes of beneficiaries provided by Trades House were used in this analysis. As a result, the analysis showed that the grants and donations offered by Trades House were highly aligned with Scottish Government’s inclusive growth agenda and tackling the inequality in Scotland.

Personally, this project was challenging because it was the first time I have conducted both an economic dissertation and worked alongside an external organisation. However, the great help and guidance of the Fraser of Allander Institute made it possible to complete the analysis.

Having a regular meeting was what I liked the most. By having regular meetings, I was able to get feedback on the progress and take advice. Also, it was easy for me to ask even minor questions and explore issues even further.

The other aspect I liked was the amount of materials provided to help my understanding on models and style of writing. Thanks to the supporting materials and examples, I was able to understand and make use of economic models, especially the input-output model, a skill that will stand me in good stead in the future.  

Working with Trades House of Glasgow was also fantastic. Through several meetings with Trades House, I was able to exchange thoughts and ask for data necessary for the analysis. The in-depth data provided by Trades House was marvellous and definitely helped me understand and appreciate such an important Glasgow institution.

This experience has been so much more than understanding the model and completing the dissertation.

Personally, I would like to emphasise the experience of cooperation and feedback I received during the project. The experience of working with an external party and constantly getting feedback was a valuable lesson for me and one I can use in the future regardless of what I go on to do.

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