ECO 334L • Regional Economics-W
Description This is a one semester course of study in regional economics. We begin with an overview of the field of regional economics which has a rich theoretical and empirical tradition in regional science, geography and economics. The spatial aspect of the decisions of economic agents is discussed first by examining the theory of firm location. Two examples of firm location models we will cover are transport cost minimization and Hotellings model of location along a line. We will follow this with a look at the spatial distribution of economic agents and activities in models of industrial clustering, agglomeration economies and regional factor flows. Next we will investigate models of regional economic growth. In the final section we will cover issues in regional economic policy. Our emphasis here will be on questions of people vs. place targeting and the role for and impact of federal and local governments in regional economic growth. Throughout this course we will be looking at data and applications. Empirical tools that are typical in the regional literature will be discussed.