Welcome to Illinois Economics Consulting (IEC)

Illinois Economics Consulting (IEC) is a student-run consulting organization at the University of Illinois at Urbana-Champaign. IEC offers pro bono economics-centered analyses and services to nonprofits, businesses, and government agencies, delivering tailored solutions through economic analysis and econometrics.

Beyond our client work, we engage in internal research projects, focusing on writing papers and conducting economic analyses of policies, including their impacts and implications. We provide our members with essential training in economic tools and principles so that they are equipped to handle any task at hand.

At IEC, we are committed to equipping our members with the knowledge and tools needed to tackle any economic consulting challenge. Through workshops, consulting simulations, and research projects, we ensure that our members gain hands-on experience before engaging in real client work.

Our ongoing projects include a policy assessment of the labor impact of the CHIPS Act on select Midwest economies. For Spring 2025, our client work will focus on demand response modeling and market evaluations for energy markets, providing valuable insights into energy economics and market dynamics.

Current Projects

Investigating the Impact of the CHIPS and Science Act 2022 on Midwest Economies

Since its enactment in 2022, the CHIPS Act has provided substantial subsidies and funding to strengthen the U.S. semiconductor industry. The Midwest, home to leading universities in semiconductor research and semiconductor companies benefiting from the Act, has seen direct and indirect economic impacts.

This project aims to analyze the effects of the CHIPS Act on the labor economies of selected Midwest states through comprehensive economic analyses, examining how this legislation continues to shape the region’s industrial and economic landscape.

About Us

Consulting – Our main goal is to support and empower local businesses, nonprofits, and organizations by providing data-driven economic insights, actionable recommendations, and tailored solutions to real-world challenges.
Research – An important pillar of being able to provide economic insight is being able to research economic impact and provide evidence. We provide an avenue for students to get involved in unique and innovative topics.
Orientations – Not everyone has an economics background or a consulting background. No worries! IEC is an inclusive space, and we provide our members with all of the tools, training, and resources to succeed and make meaningful contributions.