Here is a poster that may answer some of your questions: https://ams.confex.com/ams/2019Annual/webprogram/Paper355820.html

Md Mostafizur Rahman

Integrating GIS spatial analysis with economic modeling can greatly enhance environmental policy. GIS provides precise data on geographical patterns and resources, while economic modeling predicts costs and benefits. Together, they help policymakers make better decisions by showing where and how to implement policies effectively. For example, a study showed that using GIS improved land-use planning accuracy by 30%, leading to more effective conservation efforts.

Econometrics which is a part of economics has a great deal of compatibility with GIS methods such as spatial autocorrelation, spatial regression, etc.