Funding opportunity

Funding opportunity: Economics observatory 2024 (invite only)

This invite-only opportunity is for the Economics Observatory (ECO) to apply for further funding to maintain its activities from previous phases. You must be based at a UK research organisation eligible for Economic and Social Research Council (ESRC) funding.

This opportunity will enable ECO to provide public policy decision-makers with demand-led research and evidence to inform the developing of effective strategies responding to key challenges and government priorities.

The full economic cost (FEC) of your project can be up to £400,000. ESRC will fund 80% of the FEC.

The grant will begin on 1 January 2025 and last for nine to 12 months.

Who can apply

This is an invite-only opportunity. You can only apply for this funding opportunity if we have invited you to do so.

UK Research and Innovation (UKRI) has introduced new role types for funding opportunities being run on the new UKRI Funding Service.

For full details, visit Eligibility as an individual.

International applicants

Project co-leads based in non-UK research organisations can be included in research grant applications. Read project co-lead (international) policy guidance – UKRI for details of eligible organisations and costs.

Business, third sector or government body project co-leads

Business, third sector or government body project co-leads based in the UK can also be included on research grant proposals as a Project co-lead. Read Including project co-leads from business, third sector or government bodies for details of eligible organisations and costs.

Equality, diversity and inclusion

We are committed to achieving equality of opportunity for all funding applicants. We encourage applications from a diverse range of researchers.

We support people to work in a way that suits their personal circumstances. This includes:

  • career breaks
  • support for people with caring responsibilities
  • flexible working
  • alternative working patterns

Find out more about equality, diversity and inclusion at UKRI.

What we're looking for

Aim

This invitation-only opportunity will enable the Economics Observatory (ECO) to apply to maintain its activities for a further nine to 12 months. The proposed funding is intended to support the observatory to sustain the networks and activities established over two prior phases of funding.

For more information on the background of this funding opportunity, see the Additional information section.

Scope

ECO’s primary audience will continue to be senior UK national, devolved and regional policy decision makers, while students and publics are a secondary audience.

The funding will enable ECO to maintain a clear and targeted approach to its audiences that reflects a broad and deep understanding of stakeholder needs. As with prior phases, ECO’s understanding of stakeholders’ needs should be developed through engaged partnerships and in-depth collaborations that enable the Observatory to respond to and anticipate the likely evidence needs of its audiences.

To deliver this aim, ECO should continue to work closely with policy audiences to embed the co-production of topics and priority policy questions in its activities. Additionally, ECO should sustain the collaborations and partnerships that enabled it to incorporate evidence from a wide range of disciplines and subdisciplines in order to provide holistic answers to stakeholders’ questions about the economy. The observatory’s initiatives will need to be informed by, and contribute to, knowledge on effective approaches to supporting research-informed policymaking.

When delivering its programme of activity, ECO should remain responsive to changes in the evolving policy landscape and adapt to the shifting demands of its audiences. Through its activities, the observatory is expected to enable the academic community to contribute to the development and delivery of the UK government’s missions. These activities are anticipated to include running one to three roundtables on economic topics to help support the establishment of areas of future research interest, and which could support the evidence behind the UK government’s missions. Given its connections and experience, ECO will be positioned to share with the Economic and Social Research Council (ESRC) its strategic insights on providing and presenting economics evidence and expertise to policymakers.

In addition to responding flexibly to the policy landscape, the observatory’s programme should maintain previous key strands, including:

  • supporting and updating its web-based hub that synthesises and translates UK and international research evidence related to cross-cutting and complex policy agendas in response to demonstrable demand from policymakers (while also providing information to its secondary audiences of the public and students)
  • continuing with its activities to engage its audiences with this material, building effectively on existing initiatives and established demand to avoid duplication and add value
  • supporting opportunities to commission new translational material for policymakers and the public on economic insights into key economic policy agendas
  • maintaining and facilitating policymaker access to a network of experts
  • sustaining the broad geographical and disciplinary coverage of ECO contributors while drawing on international research evidence where applicable
  • enabling connections and dialogue between national, devolved nations, regional and local policymakers and leading experts on key policy questions to stimulate evidence-based policymaking
  • engaging with a broad scope of thematic areas to reflect current and emerging policy challenges
  • engaging with relevant UK Research and Innovation (UKRI) and ESRC-commissioned research and associated activities, such as its investments focused on improving UK productivity
  • generating and sharing learning on effective approaches to social science advisory and public engagement mechanisms
  • continuing to identify gaps in evidence or quality which require new research activity

As a key strategic investment, ECO may be asked to undertake activity that supports ESRC’s strategic thinking and planning of emerging priorities in relation to its economics portfolio.

Duration

The duration of this award is nine to 12 months.

Projects must start by 1 January 2025.

Funding available

The FEC of your project can be up to £400,000.

ESRC will fund 80% of the FEC.

Supporting skills and talent

The proposal should demonstrate how ECO will maintain its cross-sector capacity-building activities, including for policymakers. It should also provide evidence of the Observatory’s commitment to supporting the development of researchers at all stages of their career. We encourage the participation of Early Career Researchers as project co-leads.

We encourage you to follow the principles of the Concordat to Support the Career Development of Researchers and the Technician Commitment.

ESRC data infrastructure

ESRC supports a range of data infrastructure. Where relevant, we encourage applicants to consider whether the use of these resources could add value to the project. See Facilities and resources for information on finding and using ESRC datasets which are available across the UK.

Where relevant, details of datasets and infrastructure to be used in your project should be given in the Facilities section.

Data requirements

ESRC recognises the importance of data quality and provenance. Data generated, collected or acquired by ESRC-funded research must be well-managed by the grant holder to enable their data to be exploited to the maximum potential for further research. See our research data policy for details and further information on data requirements. The requirements of the research data policy are a condition of ESRC research funding.

Where relevant, details on data management and sharing should be provided in the Data Management section. See the importance of managing and sharing data and content for inclusion in a data management plan on the UK Data Service (UKDS) website for further guidance. We expect applicants to provide a summary of the points provided. The UKDS datasharing@ukdataservice.ac.uk will be pleased to advise applicants on the availability of data within the academic community and provide advice on data deposit requirements.

Impact, innovation and interdisciplinarity

We expect applicants to consider the potential scientific, societal and economic impacts of their research. Outputs, dissemination and impact are a key part of the criteria for most peer review and assessment processes. We also encourage applications that demonstrate innovation and interdisciplinarity (research combining approaches from more than one discipline).

Knowledge exchange and collaboration

We are committed to knowledge exchange and encouraging collaboration between researchers and the private, public and civil society sectors. Collaborative working benefits both the researchers and the individuals or organisations involved. Through collaboration, partners learn about each other’s expertise, share knowledge and gain an appreciation of different professional cultures. Collaborative activity can therefore lead to a better understanding of the ways that academic research can add value and offer insights to key issues of concern for policy and practice.

Knowledge exchange should not be treated as an ‘add-on’ at the end of a project but considered before the start and built into a project.

Research ethics

ESRC requires that the research we support is designed and conducted in such a way that it meets ethical principles and is subject to proper professional and institutional oversight in terms of research governance. We have agreed a Framework for Research Ethics that all submitted proposals must comply with. Read further details about the Framework for Research Ethics and guidance on compliance.

Trusted Research and Innovation (TR&I)

UKRI is committed in ensuring that effective international collaboration in research and innovation takes place with integrity and within strong ethical frameworks. Trusted Research and Innovation (TR&I) is a UKRI work programme designed to help protect all those working in our thriving and collaborative international sector by enabling partnerships to be as open as possible, and as secure as necessary. Our TR&I Principles set out UKRI’s expectations of organisations funded by UKRI in relation to due diligence for international collaboration.

As such, applicants for UKRI funding may be asked to demonstrate how their proposed projects will comply with our approach and expectation towards TR&I, identifying potential risks and the relevant controls you will put in place to help proportionately reduce these risks.

Further guidance and information about TR&I, including where you can find additional support, can be found on UKRI’s website.

How to apply

This invitation-only opportunity will enable the Economics Observatory (ECO) to apply to maintain its activities for a further nine to 12 months. The proposed funding is intended to support the observatory to sustain the networks and activities established over two prior phases of funding.

You may only apply to this opportunity if we have invited you to do so.

The project lead is responsible for completing the application process on the UK Research and Innovation (UKRI) Funding Service, but we expect all team members and project partners to contribute to the application.

Only the lead research organisation can submit an application to UKRI.

To apply:

Select ‘Start application’ near the beginning of this Funding finder page.

  1. Confirm you are the project lead.
  2. Sign in or create a Funding Service account. To create an account, select your organisation, verify your email address, and set a password. If your organisation is not listed, email support@funding-service.ukri.org

Please allow at least 10 working days for your organisation to be added to the Funding Service. We strongly suggest that if you are asking UKRI to add your organisation to the Funding Service to enable you to apply to this funding opportunity, you also create an organisation Administration Account. This will be needed to allow the acceptance and management of any grant that might be offered to you.

  1. Answer questions directly in the text boxes. You can save your answers and come back to complete them or work offline and return to copy and paste your answers. If we need you to upload a document, follow the upload instructions in the Funding Service. All questions and assessment criteria are listed in the How to apply section on this Funding finder page.
  2. Allow enough time to check your application in ‘read-only’ view before sending to your research office.
  3. Send the completed application to your research office for checking. They will return it to you if it needs editing.
  4. Your research office will submit the completed and checked application to UKRI.

Where indicated, you can also demonstrate elements of your responses in visual form if relevant. You should:

  • use images sparingly and only to convey important information that cannot easily be put into words
  • insert each new image onto a new line
  • provide a descriptive legend for each image immediately underneath it (this counts towards your word limit)
  • ensure files are smaller than 5MB and in JPEG, JPG, JPE, JFI, JIF, JFIF, PNG, GIF, BMP or WEBP format

Watch our research office webinars about the new Funding Service.

For more guidance on the Funding Service, see:

References

Applications should be self-contained, and hyperlinks should only be used to provide links directly to reference information. To ensure the information’s integrity is maintained, where possible, persistent identifiers such as digital object identifiers should be used. Assessors are not required to access links to carry out assessment or recommend a funding decision. You should use your discretion when including reference and prioritise those most pertinent to the application.

References should be included in the appropriate question section of the application and be easily identifiable by the assessors, for example (Smith, Research Paper, 2019).

You must not include links to web resources to extend your application.

Deadline

The Economic and Social Research Council (ESRC) must receive your application by 4:00pm UK time on 8 October 2024.

You will not be able to apply after this time.

Make sure you are aware of and follow any internal institutional deadlines.

Following the submission of your application to the funding opportunity, your application cannot be changed, and applications will not be returned for amendment. If your application does not follow the guidance, it may be rejected.

Personal data

Processing personal data

ESRC, as part of UKRI, will need to collect some personal information to manage your Funding Service account and the registration of your funding applications.

We will handle personal data in line with UK data protection legislation and manage it securely. For more information, including how to exercise your rights, read our privacy notice.

Publication of outcomes

ESRC, as part of UKRI, will publish the outcomes of this funding opportunity at What ESRC has funded.

If your application is successful, we will publish some personal information on the UKRI Gateway to Research.

Summary

Word limit: 550

In plain English, provide a summary we can use to identify the most suitable experts to assess your application.

We may make this summary publicly available on external-facing websites, therefore do not include any confidential or sensitive information. Make it suitable for a variety of readers, for example:

  • opinion-formers
  • policymakers
  • the public
  • the wider research community

Guidance for writing a summary

Clearly describe your proposed work in terms of:

  • context
  • the challenge the project addresses
  • aims and objectives
  • potential applications and benefits

Core team

List the key members of your team and assign them roles from the following:

  • project lead (PL)
  • project co-lead (UK) (PcL)
  • project co-lead (international) (PcL (I))
  • specialist
  • grant manager
  • professional enabling staff
  • research and innovation associate
  • technician
  • visiting researcher

Only list one individual as project lead.

Find out more about UKRI’s core team roles in funding applications.

Application questions

Vision

Word limit: 500

What are you hoping to achieve with the proposed infrastructure?

What the assessors are looking for in your response

Explain how the proposed infrastructure will:

  • be timely, given current trends and context
  • meet the evidenced needs of clearly identified user groups
  • have measurable impact
  • meet the strategic aims of the funder or government
  • offer training opportunities
  • enhance, benefit and complement the existing landscape
  • be of international importance (if applicable)

You may demonstrate elements of your responses in visual form if relevant. Further details are provided in the Funding Service.

References may be included within this section.

Within the Vision section we also expect you to:

  • demonstrate ECO’s commitment to sustaining the networks, collaborations and activities established through prior phases of funding
  • demonstrate how ECO will use an in-depth understanding of the needs and demands of UK policymakers to help them access the evidence they need to answer pressing economic questions
  • outline how ECO will engage relevant stakeholders to co-produce and respond to priority policy questions
  • explain how the observatory will build on and further develop its strategic insights about policymaker engagement in order to share those lessons with ESRC
  • outline how ECO will support ESRC in developing strategic insights about emerging priorities relevant to the council’s economics portfolio

Approach

Word limit: 2,500

What are your plans to manage and deliver the proposed infrastructure?

What the assessors are looking for in your response

We expect you to show how your approach includes:

  • a credible management plan including strategic and operational matters
  • details of governance
  • feasibility of the project plan including a work plan, milestones, and deliverables in the form of a Gantt chart or similar
  • identification of risks and appropriate mitigation
  • plans for support and maintenance of the proposed infrastructure over the estimated life span
  • training and development of staff and those who may interact with the infrastructure
  • a description of the working environment
  • identification of how accessibility and inclusiveness have been incorporated into the design of the project

You may demonstrate elements of your responses in visual form if relevant. Further details are provided in the Funding Service.

References may be included within this section.

Contextual information

Within the Approach section we also expect you to:

  • provide details of how ECO employs an effective, evidence-based approach to respond appropriately to demonstrable demand from policymakers and relevant opportunities
  • demonstrate how ECO will maintain its previous strands of activity while adapting to the changing needs of its audiences at pace
  • identify high priority cross-cutting themes across government as well as mechanisms to connect these themes to relevant specialist expertise
  • give an overview of ECO’s impact, communication and engagement plans
  • provide details of how the approach to monitoring and evaluation will:
    • Inform reflective and iterative practice within ECO
    • Contribute knowledge on effective approaches to social science advisory mechanisms for public policy and public engagement.

If relevant, you may discuss plans to formalise relationships with targeted policymakers through ECO’s governance structure.

Applicant and team capability to deliver

Word limit: 1,650

Why are you the right individual or team to deliver and manage the proposed infrastructure?

What the assessors are looking for in your response

Evidence of how you, and if relevant your team, have:

  • the relevant experience (appropriate to career stage)
  • the right balance of skills and expertise
  • the appropriate leadership and management skills and your approach to develop others
  • contributed to developing a positive research environment and wider community
  • the connections and networks to achieve ECO’s policy engagement objectives.

You may demonstrate elements of your responses in visual form if relevant. Further details are provided in the Funding Service.

The word count for this section is 1,650 words: 1,150 words to be used for R4RI modules (including references) and, if necessary, a further 500 words for Additions.

Use the Résumé for Research and Innovation (R4RI) format to showcase the range of relevant skills you, and if relevant, your team (project and project co-leads, researchers, technicians, specialists, partners and so on), have and how this will help to deliver the proposed work. You can include individuals’ specific achievements but only choose past contributions that best evidence their ability to deliver this work.

Complete this section using the R4RI module headings listed below. You should use each heading once and include a response for the whole team, see the UKRI guidance on R4RI. You should consider how to balance your answer, and emphasise where appropriate the key skills each team member brings:

  • contributions to the generation of new ideas, tools, methodologies, or knowledge
  • the development of others and maintenance of effective working relationships
  • contributions to the wider research and innovation community
  • contributions to broader research or innovation users and audiences and towards wider societal benefit

Additions: Provide any further details relevant to your application. This section is optional and can be up to 500 words. You should not use it to describe additional skills, experiences or outputs, but you can use it to describe any factors that provide context for the rest of your R4RI (for example, details of career breaks if you wish to disclose them).

You should complete this section as a narrative. Do not format it like a CV.

References may be included within this section.

UKRI has introduced new role types for funding opportunities being run on the new Funding Service. For full details, see Eligibility as an individual.

Ethics and responsible research and innovation (RRI)

Word limit: 500

What are the ethical and RRI implications and issues relating to the proposed work?  If you do not think that the proposed work raises any ethical or RRI issues, explain why.

What the assessors are looking for in your response

Demonstrate that you have identified and evaluated:

  • the relevant ethical or responsible research and innovation considerations
  • how you will manage these considerations

You may demonstrate elements of your responses in visual form if relevant. Further details are provided in the Funding Service.

Resources and cost justification

Word limit: 1,000

What will you need to deliver and manage the proposed infrastructure and how much will it cost?

What the assessors are looking for in your response

Justify the application’s more costly resources, in particular:

  • project staff
  • significant travel for field work or collaboration (but not regular travel between collaborating organisations or to conferences)
  • any consumables beyond typical requirements, or that are required in exceptional quantities
  • all facilities and infrastructure costs
  • engagement activities, for example events or publications, required to deliver ECO’s aims and objectives
  • all resources that have been costed as ‘Exceptions’

Assessors are not looking for detailed costs or a line-by-line breakdown of all project resources. Overall, they want you to demonstrate how the resources you anticipate needing for your proposed work:

  • are comprehensive, appropriate, and justified
  • represent the optimal use of resources to achieve the intended outcomes
  • maximise potential outcomes and impacts

Data management and sharing

Word limit: 500

How will you manage and share data collected or acquired through the proposed work?

What the assessors are looking for in your response

Provide a data management plan that clearly details how you will comply with UKRI’s published data sharing policy, which includes detailed guidance notes.

Demonstrate that you have designed your proposed work so that you can appropriately manage and share data in accordance with ESRC’s Research Data Policy and ESRC Framework for Research Ethics (if applicable).

Within the ‘Data Management’ section we also expect you to:

  • plan for the research through the life cycle of the award until data is accepted for archiving by the UK Data Service (UKDS) or a responsible data repository
  • demonstrate compliance with ESRC’s Research Data Policy and ESRC Framework for Research Ethics. This should include confirmation that existing datasets have been reviewed and why currently available datasets are inadequate for the proposed research
  • cover any legal and ethical considerations of collecting, releasing or storing the data, including consent, confidentiality, anonymisation, security and other ethical issues
  • include any challenges to data sharing, for example copyright or data confidentiality, with possible solutions discussed to optimise data sharing

If this does not apply to your proposed work, you will be able to indicate this in the Funding Service.

Equality, Diversity and Inclusion (EDI)

Word limit: 500

What approaches and activities do you have planned that will embed EDI into your proposed work?

What the assessors are looking for in your response

Explain how your EDI plan:

  • is effective and appropriate to embed EDI
  • comprehensively identifies the key EDI challenges and how they will be addressed or managed
  • will report and measure EDI outcomes
  • will maximise awareness of and mitigate against bias in your team and the wider community in terms of gender, ethnicity or any other protected characteristic through processes, behaviours and culture
  • describes how your approach will build upon and integrate existing EDI good practice into your proposed work
  • will share good practice with the wider community to ensure your research has maximum impact

You may demonstrate elements of your responses in visual form if relevant. Further details are provided in the Funding Service.

References may be included within this section.

How we will assess your application

Assessment process

We will assess your application using the following process.

We will invite an expert panel to assess the quality of your application in order to make a funding recommendation.

The Economic and Social Research Council (ESRC) will make the final funding decision.

Timescale

We aim to complete the assessment process within two months of receiving your application.

Feedback

We will give feedback with the outcome of your application.

Principles of assessment

We support the San Francisco declaration on research assessment (DORA) and recognise the relationship between research assessment and research integrity.

Find out about the UKRI Principles of Assessment and Decision Making.

Assessment areas

The assessment areas we will use are:

  • vision
  • approach
  • applicant and team capability to deliver
  • ethics and responsible research and innovation (RRI)
  • resources and cost justification
  • equality, diversity and inclusion (EDI)

Find details of assessment questions and criteria under the Application questions heading in the How to apply section.

Contact details

Get help with your application

If you have a question and the answers aren’t provided on this page.

IMPORTANT NOTE: The helpdesk is committed to helping users of the UK Research and Innovation (UKRI) Funding Service as effectively and as quickly as possible. In order to manage cases at peak volume times, the helpdesk will triage and prioritise those queries with an imminent opportunity deadline or a technical issue. Enquiries raised where information is available on the Funding Finder opportunity page and should be understood early in the application process (for example, regarding eligibility or content/remit of an opportunity) will not constitute a priority case and will be addressed as soon as possible.

Contact details

For help and advice on costings and writing your proposal please contact your research office in the first instance, allowing sufficient time for your organisation’s submission process.

For questions related to this specific funding opportunity please contact callum.velasquez@esrc.ukri.org

Any queries regarding the system or the submission of applications through the Funding Service should be directed to the helpdesk.

Email: support@funding-service.ukri.org

Phone: 01793 547490

Our phone lines are open:

  • Monday to Thursday 8:30am to 5pm
  • Friday 8:30am to 4:30pm

To help us process queries quicker, we request that users highlight the council and opportunity name in the subject title of their email query, include the application reference number, and refrain from contacting more than one mailbox at a time.

For further information on submitting an application read How applicants use the Funding Service

Sensitive information

If you or a core team member need to tell us something you wish to remain confidential, email callum.velasquez@esrc.ukri.org

Include in the subject line: [the funding opportunity title; sensitive information; your Funding Service application number].

Typical examples of confidential information include:

  • individual is unavailable until a certain date (for example due to parental leave)
  • declaration of interest
  • additional information about eligibility to apply that would not be appropriately shared in the ‘Applicant and team capability’ section
  • conflict of interest for UKRI to consider in reviewer or panel participant selection
  • the application is an invited resubmission

For information about how UKRI handles personal data, read UKRI’s privacy notice.

Additional info

Background

In 2020 the Economic and Social Research Council (ESRC) commissioned Phase 1 of ECO to provide research and evidence to inform public policy decision-makers in developing effective strategies for responding to and recovering from the economic and impacts of the COVID-19 pandemic.

In 2023 ECO widened its remit during Phase 2 to support policymakers to face other key challenges and government priorities, for example levelling up, net zero and future pandemics. This award was intended to facilitate ECO to build partnerships, including with UKRI-funded research investments, that would enable its work to incorporate evidence from a wide range of disciplines and sub-disciplines across and beyond economics. This second phase was also intended to enable an evaluation of ECO’s operational model and impact as well as develop its capacity building activities.

In both phases, ECO was required to work through collaboration and co-production with policy actors, researchers and evidence centres in the UK, ESRC and other funders to increase policymakers access to actionable evidence and research in order to support effective public policy responses.

Additional disability and accessibility adjustments

UK Research and Innovation (UKRI) can offer disability and accessibility support for UKRI applicants and grant holders during the application and assessment process if required.

Research disruption due to COVID-19

We recognise that the COVID-19 pandemic has caused major interruptions and disruptions across our communities. We are committed to ensuring that individual applicants and their wider team, including partners and networks, are not penalised for any disruption to their career, such as:

  • breaks and delays
  • disruptive working patterns and conditions
  • the loss of ongoing work
  • role changes that may have been caused by the pandemic

Reviewers and panel members will be advised to consider the unequal impacts that COVID-19 related disruption might have had on the capability to deliver and career development of those individuals included in the application. They will be asked to consider the capability of the applicant and their wider team to deliver the research they are proposing.

Where disruptions have occurred, you can highlight this within your application if you wish, but there is no requirement to detail the specific circumstances that caused the disruption.

Supporting documents

Equality impact assessment form (PDF, 196 KB)

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