The independent Review on AMR led by the economist Jim O'Neill commissioned RAND Europe to conduct a study estimating the global costs of antimicrobial resistance until 2050 in the absence of any progress in tackling the challenge. We developed a general equilibrium model, which calculated the extent of losses to the world economy caused by decreases in the supply of labour resulting from resistant hospital acquired infections and selected major infectious diseases (HIV, TB, malaria). Our approach incorporated a set of seven scenarios with varying rates of future resistance, time of onset of increases in resistance, and availability of effective second-line therapy.