- Summary
- Contents
- Subject index
Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful ...
Chapter 65: Urban Economics
Urban Economics
The field of urban economics was developed based on the observation that population and economic activity are concentrated in geographic space. Thus, one can define the field of urban economics as the study of the spatial relationships between individuals, households, and firms from an economic perspective. Much of urban economic analysis extends the maximizing behavior of individuals and firms from microeconomics to include how location affects this behavior. A focal point of urban economic analysis is how distance affects maximizing behavior. The fact that there is increased population and employment density at certain points in geographic space indicates that there are advantages of clustering of activity at certain locations. The concentration of activity also has consequences, both positive (i.e., enhanced productivity) and ...
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