The California Governor’s Office has announced new leaders and membership of its Council of Economic Advisors, which includes Ina Simonovska, a professor of economics at UC Davis and a leading expert on global finance and trade.
Simonovska has been actively working with the council for the past year as they have made recommendations across a range of pressing issues for California, a state that accounts for a major share of U.S. trade.
“California is like a really, really big country,” said Simonovska. “It's now the 4th largest economy in the world on its own, so a lot of the research that I have done translates naturally.”
Simonovska became increasingly interested in state’s economy in 2025 when the projected budget went from a surplus to a deficit. She wanted to understand whether April’s “Liberation Day” tariffs, which imposed a 10% tariff on all imported goods, had played a role.
Her earlier research on tariffs was cited by the federal government when it developed its tariff policy. Her subsequent research on the Liberation Day tariffs found that while they may have yielded modest economic benefits, the complicated realities of global trade may have offset those gains and even led to economic losses.
Experts helping navigating California’s economy
The council serves as a strategic advisory group to the Governor’s Office and the Department of Finance. It meets monthly to analyze economic trends and provide guidance on state and federal developments. When the members need broader input, they organize expert panels. From their collective expertise, the council provides recommendations for policy decisions.
Seven of the nine total council serve on the faculties of California universities, five at UC campuses. The council is chaired by Renee Bowen, currently a professor at Georgetown University but formerly at UC San Diego.
Council members are non-political appointees who serve three-year terms. Simonovska’s term will end in two years, and she will serve while a new governor is in office.
“With the help of this important group of advisors, the state will continue to navigate federal shifts, global disruptions, and emerging challenges with creativity, resilience, and confidence. Together, we’re going to keep California moving forward and strengthening our position as the nation’s leading economy,” said Governor Gavin Newsom in the announcement.
Simonovska said that taking part in the council has already expanded her own research into topics that include the effects of AI on labor, industrial policy and strategic trade policy. She has also seen the council’s recommendations contribute directly to state policy.
“I'm just meeting really smart, interesting people,” she said. “It's great. I've met everybody from the governor’s cabinet. They usually come to the meetings.”
Read the full announcement from the California Governor’s Office
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