ECON 3500- Final Exam Guide - Comprehensive Notes for the exam ( 43 pages long!)
29 Mar 2018
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Chapter 1: introduction and axioms of urban economics. Urban economics intersection of geography and economics exploring the geographical or location choices of utility-maximizing households and profit-maximizing firms. Urban area geographical area that contains a large number of people in a relatively small area (a population density that is high relative to the density of the surrounding area) range from small towns to big cities. Urban populations people living in urban areas. Metropolitan area a core area with a substantial population nucleus, together with adjacent communities that are integrated with the core area. Micropolitan area a smaller version of a metropolitan area. Principal city largest municipality in each metropolitan or micropolitan statistical area. *urban area, metropolitan area and city are used interchangeably. Human technology has created systems of production and exchange that seem to defy the natural order. 3 conditions must be satisfied for a city to develop:
