Economic Design is a multidisciplinary approach that integrates economic principles, theories, and methods into the design process to create products, services, and systems that are not only aesthetically pleasing and functionally effective but also economically viable, sustainable, and socially responsible. It involves the application of economic analysis, market research, cost-benefit analysis, and other economic tools to inform design decisions and optimize the economic performance of designed artifacts throughout their lifecycle. Economic designers consider factors such as production costs, market demand, consumer preferences, pricing strategies, and long-term economic sustainability when developing design solutions. They aim to create designs that balance economic efficiency with other design objectives, such as user experience, environmental sustainability, and social impact. Economic Design also encompasses the study of how design influences economic behavior, such as consumer choice, willingness to pay, and market dynamics. It recognizes the role of design in shaping economic value creation, distribution, and capture, as well as its potential to drive economic growth, innovation, and competitiveness. The field of Economic Design draws on insights from economics, design thinking, business strategy, and other related disciplines to develop a holistic understanding of the economic dimensions of design and to inform the creation of economically sound and socially beneficial design solutions.
economic design, design economics, cost-benefit analysis, market research, pricing strategies, economic sustainability, economic value creation, economic performance, design thinking
CITATION : "Andrea Conti. 'Economic Design.' Design+Encyclopedia. https://design-encyclopedia.com/?E=431901 (Accessed on July 05, 2025)"
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