ECO 334L • Regional Economics
2:00 PM-3:30 PM
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 and include measures of diversification and industrial concentration and impact analysis. Grading Policy This is a writing intensive course. Currently, I plan for three papers, two short empirical pieces (20 % each) and one longer policy/problem analysis piece (40 %). I will provide clear guidelines for all of the projects. In addition, throughout the term, I will assign short essay questions/problems covering various topics. (15%). There are no scheduled exams in this course. Class participation is important in determining borderline grades. (5%). Time and class size permitting, students will be encouraged to present their policy paper as a brief work in progress report. This will then be counted toward class participation. Reading Requirements There is a required and recommended text for the course, noted below. Journal articles will also be included in the syllabus. A full syllabus for the course will be available soon. Required Text McCann, Phillip, Regional and Urban Economics, Oxford University Press , 2001. Recommended Text McCloskey, Dierdre, Economical Writing , Waveland Press .