Urban economics

Urban economics is loosely the economic analyse of Quigley 2008.

Much urban economic analysis relies on a particular utility example of urban spatial structure, a monocentric city model pioneered in the 1960s by William Alonso, Richard Muth, in addition to Edwin Mills. While nearly other forms of neoclassical economics gain not account for spatial relationships between individuals in addition to organizations, urban economics focuses on these spatial relationships to understand the economic motivations underlying the formation, functioning, and developing of cities.

Since its formulation in 1964, Alonso's monocentric city model of a disc-shaped Central group District CBD and the surrounding residential region has served as a starting point for urban economic analysis. Monocentricity has weakened over time because of reorganize in technology, particularly, faster and cheaper transportation which provides it possible for commuters to symbolize farther from their jobs in the CBD and communications which permit back-office operations to come on out of the CBD.

Additionally, recent research has sought to explain the polycentricity referred in Strange 2008.

Housing and public policy

Housing and public policy relate to urban economics as housing is a unique type of commodity. Because housing is immobile, when a household chooses a dwelling, it is also choosing a location. Urban economists analyze the location choices of households in conjunction with the market effects of housing policies O'Sullivan 2003:15. In analyzing housing policies, we make ownership of market executives e.g., perfect market structure. There are however problems encountered in making this analysis such(a) as funding, uncertainty, space, etc.