With the ever-increasing turbulence of the modern global economy the need for better assessment of economic policy is imperative. National macroeconomic assessment has long been seen as one of the corner stones of good governance with all nations compiling vast amounts of data for analysis. What has not seen the same depth of analysis from Governments is the effect of economic policy on regions. This fellowship will develop the first fully integrated approach to regional economic impact analysis. This will be achieved by linking together two powerful models, the Econometric Input Output and the Computable General Equilibrium into a harmonised framework. This approach will seek to establish a bridge between the methods of calibration and estimation something not achieved to this point. To evaluate the performance of this new “technique” in impact analysis European Structural funds for both sectors and regions will be analysed. The model will provide the first and most comprehensive evaluative tool for the new Smart Specialisation agenda in line with Europe 2020. The three major objectives of the fellowship are, first the construction of a new integrated economic impact model. The second is an assessment of how the external “shock” of Structural funds affects the supply and demand relationships within a regions economic base. The final and most unique contribution of this fellowship will be the implementation of a new open source model capable of being utilised by all regions in Europe providing a lasting legacy from this work. The next programming period (2014-2020) is still under development, thus this work is most timely and will provide the best tool for the assessment of Smart Specialisation across regions.