"Urban economics is broadly the economic study of urban areas; as such, it involves using the tools of economics to analyze urban issues such as crime, education, public transit, housing, and local government finance."
The study of urban areas and the factors that impact economic outcomes in these areas.
Urbanization: The process of migration from rural to urban areas which results in the growth of cities and towns.
Location Theory: A framework for analyzing how the location of economic activity affects the behavior of firms, households, and the overall economy.
Agglomeration Economies: The benefits that firms and individuals receive from being located in close proximity to others in the same industry.
Land-Use Regulation: The laws and regulations that affect the use and development of land, including zoning laws, building codes, and environmental regulations.
Public Goods: Goods and services that are provided by the government and benefit the entire community, including infrastructure, education, and public safety.
Transportation and Infrastructure: The networks of roads, highways, railroads, airports and seaports that facilitate economic activity and movement of people and goods.
Housing Markets: The markets for buying and renting homes, including factors that affect supply and demand, such as income, demographics, and interest rates.
Labor Markets: The markets for hiring and finding jobs, including wages, education and training, and barriers to entry.
Urban Poverty: The causes and consequences of poverty in urban areas, including inequality of opportunity, lack of access to education and healthcare, and social exclusion.
Urban Governance: The systems of government and decision-making that shape the policies and outcomes of urban development, including local, regional and national levels of government.
Neighborhood Effects: The consequences of living in a particular neighborhood on individual outcomes, such as health, education, and job opportunities.
Gentrification: The process of urban renewal by which higher-income residents move into lower-income neighborhoods, often resulting in displacement of existing residents.
Environmental Issues: The impact of urban development on the environment, including pollution, climate change, and sustainability.
Social Justice: The principles of equity and fairness in the distribution of resources, opportunities, and outcomes in urban society.
Regional Economics: The study of the economic development and interaction of regions, including urban and rural areas, and the policies aimed at promoting balanced growth.
Economic Growth: The factors that promote economic growth in urban areas, including innovation, entrepreneurship, investment, and human capital.
Crime and Safety: The impact of crime and the perception of safety on urban development and individual behavior.
Real Estate Markets: The markets for buying and selling real estate, including factors such as interest rates, housing supply and demand, and property values.
Fiscal Policy: The use of taxation and government spending to influence economic activity, including urban development.
Institutional Economics: The study of how institutions, such as laws, norms, and organizations, influence economic behavior and outcomes in urban areas.
"While most other forms of neoclassical economics do not account for spatial relationships between individuals and organizations, urban economics focuses on these spatial relationships to understand the economic motivations underlying the formation, functioning, and development of cities."
"Historically, much like economics generally, urban economics was influenced by multiple schools of thought, including original institutional economics and Marxist economics."
"This dominant urban economics also influences mainstream media like The Economist."
"Since its formulation in 1964, Alonso's monocentric city model of a disc-shaped Central Business District (CBD) and the surrounding residential region has served as a starting point for urban economic analysis."
"Monocentricity has weakened over time because of changes in technology, particularly, faster and cheaper transportation (which makes it possible for commuters to live farther from their jobs in the CBD) and communications (which allow back-office operations to move out of the CBD)."
"Several explanations for polycentric expansion have been proposed and summarized in models that account for factors such as utility gains from lower average land rents and increasing (or constant) returns due to economies of agglomeration."
"...it is a branch of microeconomics that studies the urban spatial structure and the location of households and firms."
"...it involves using the tools of economics to analyze urban issues such as crime, education, public transit, housing, and local government finance."
"...changes in technology, particularly, faster and cheaper transportation (which makes it possible for commuters to live farther from their jobs in the CBD) and communications (which allow back-office operations to move out of the CBD)."
"These heterodox economic currents continue to be used in contemporary political-economic analyses of cities."
"The monocentric city model pioneered in the 1960s by William Alonso, Richard Muth, and Edwin Mills... focuses on these spatial relationships to understand the economic motivations underlying the formation, functioning, and development of cities."
"...urban economics today is neoclassical in orientation and centered largely around urban experiences in the Global North."
"Urban economics focuses on these spatial relationships to understand the economic motivations underlying the formation, functioning, and development of cities."
"Monocentricity has weakened over time because of changes in technology, particularly, faster and cheaper transportation... and communications..."
"Since its formulation in 1964, Alonso's monocentric city model... has served as a starting point for urban economic analysis."
"Several explanations for polycentric expansion have been proposed and summarized in models that account for factors such as utility gains from lower average land rents and increasing (or constant) returns due to economies of agglomeration."
"This dominant urban economics also influences mainstream media like The Economist."
"Monocentricity has weakened over time because of changes in technology, particularly, faster and cheaper transportation... and communications..."
"These heterodox economic currents continue to be used in contemporary political-economic analyses of cities."