DENVER—Two University of Colorado professors have devised a model to predict who will win the presidential election under current economic circumstances. The victor, they say, will be Republican Mitt Romney.

The model uses economic indicators from all 50 states to predict the race’s outcome. The forecast calls for Romney to win 320 electoral votes out of 538. It says Romney will also win virtually every state currently considered a swing state, including Colorado.

The professors who created the model, Ken Bickers from CU-Boulder and Michael Berry from CU-Denver, say it correctly forecast every winner of the electoral since 1980.

They warn the model does not account for sudden changes in the economy or unexpected developments in states split 50-50. Polls in many states, including Colorado, show a virtually deadlocked race.