Urban Economics and Real Estate Theory and Policy

by McDonald, John F.; McMillen, Daniel P.

• ISBN13: 9780470591482
• ISBN10: 047059148X
• Edition: 2nd
• Format: Hardcover
• Copyright: 2010-03-29
• Publisher: Wiley

Summary

This Second Edition arms real estate professionals with a comprehensive approach to the economic factors that both define and affect modern urban areas. The text considers the economics of cities as a whole, instead of separating them. Emphasis is placed on economic theory and empirical studies that are based in economic theory. The book also explores the policy lessons that can be drawn from the use of economics to understand urban areas. Real estate professionals will find new coverage of urban areas around the world to provide a global perspective.

Author Biography

John F. McDonald is currently at Roosevelt University, Chicago, as the Gerald W. Fogelson Distinguished Chair in R.E. John McDonald was Emeritus Professor of Economics and Finance at the University of Illinois at Chicago. He holds a Ph.D. in Economics from Yale University. At UIC he has served as Professor of Economics and Finance, Founding Director of the Center for Urban Real Estate, Senior Associate Dean for Academic Affairs and Research, and Interim Dean of the College of Business Administration. Other positions held include Research Director at NCI Research, and Adjunct Professor of Economics in the Graduate School of Business, University of Chicago. Well known for his research in urban economics and real estate, he is listed in Who's Who in Economics and is author of seven books. He currently serves as editor of the Journal of Real Estate Literature.

Daniel P. McMillen is a professor of economics at the University of Illinois at Urbana-Champaign. He has held an appointment at IGPA since 2002. His research interests are urban economics, real estate, and applied econometrics. He is editor of the journal Regional and Urban Economics, and has served on the editorial boards of five other journals. In 1998 and 1999 he served as the chair of the Department of Economics at Tulane University. In 1998, he was a research fellow for the Center for Urban Real Estate and Land Economics at the University of British Columbia. He received his Ph.D. from Northwestern University in 1987.

Table of Contents

Economics and Urban Areas

Introduction to Urban Economics

Schools of Thought in Urban Economics

Location Decisions, Agglomeration Economies, and the Origins of Cities

The Economic Functions of Cities

Location Patterns in Urban Areas

Introduction to Urban Location Patterns: Static Analysis

Using the Monocentric City Model

Empirical Testing of the Moncentric City Model

Urban Housing and Real Estate

Housing in Urban Areas

Housing Policy in the United States

Real Estate Law and Institutions

Real Estate Markets

Real Estate Development and Investment

Government in Urban Areas

The Public Sector in Urban Areas

Urban Transportation

Urban Social Problems

An Overview of Urban Social Problems

Urban Poverty and Its Spatial Concentration

Crime in Urban Areas

Education, Labor Markets, and Migration

Urban Growth

Models of Metropolitan Economic Growth

Agglomeration Economies, Technical Change, and Urban Growth

Economic Development Policies for Urban Areas

Appendix: A Review of Some Mathematics and Microeconomic Theory

Answers to Selected Exercises

Index

Table of Contents provided by Publisher. All Rights Reserved.