An economic impact study is a research method used to evaluate and analyze the effect of certain events, policies or decisions on an economy. It involves collecting data from various sources such as government reports, industry surveys, and market trends to determine how these factors influence businesses, employment rates, income levels, consumer spending habits, and overall economic growth within a specific region or country. The study can also provide insights into the potential consequences of proposed changes in policies or decisions that may impact the economy either positively or negatively. Overall, an economic impact study is used to help policymakers make informed decisions about how to manage their economies for optimal growth and development.