Urban Economics and Real Estate: Theory and Policy


Unique in its coverage, Urban Economics and Real Estate allows an instructor to teach separate courses in either urban economics or urban real estate, or a blend of the two topics. The portion on urban economics focuses on urban/surburban growth--physical as well as job growth. The interplay of federal government and local authorities is discussed, and the effects of social problems, such as crime, poverty, and education that often accompany these changes are discussed. While the latest data sets available are utilized, the text emphasis is on economic analysis. The real estate chapters emphasize housing markets, appraisal, business investments, and their relationship to finance. Given the rapidly changing empirical side of urban demography, the text is accompanied by a website with new examples added annually and various discussions/tips about the latest data sets that become available.

John F. McDonald is Senior Associate Dean for Academic Affairs and Professor of Economics at the University of Illinois at Chicago. He is US editor of the journal Urban Studies and a member of the editorial boards of the Journal of Urban Economics and the journal Planning Perspectives. He has authored or edited several books, including The Economics of Highway Congestion and Pricing (1999), Sources of Metropolitan Growth (with Edwin Mills, 1991), and Economic Analysis of an Urban Housing Market (1979).

Daniel P. McMillen is Professor of Economics and Director of the Center for Urban Real Estate at the University of Illinois at Chicago, and is also a Research Scholar at the Federal Reserve Bank of Chicago. He is a member of the editorial boards of several urban economics and real estate journals, including the Journal of Urban Economics and Real Estate Economics, and is co-editor, with Richard J. Arnott, of A Companion to Urban Economics (Blackwell, 2006).



Part I: Economics and Urban Areas:.

1. Introduction to Urban Economics.

2. Schools of Thought in Urban Economics.

3. Location Decisions, Agglomeration Economies, and the Origins of Cities.

4. The Economic Functions of Cities.

Part II: Location Patterns in Urban Areas:.

5. Introduction to Urban Location Patterns: Static Analysis.

6. Using the Monocentric City Model.

7. Empirical Testing of the Moncentric City Model.

Part III: Urban Housing and Real Estate:.

8. Housing in Urban Areas.

9. Housing Policy in the United States.

10. Real Estate Law and Institutions.

11. Real Estate Markets.

12. Real Estate Development and Investment.

Part IV: Government in Urban Areas:.

13. The Public Sector in Urban Areas.

14. Urban Transportation.

Part V: Urban Social Problems:.

15. An Overview of Urban Social Problems.

16. Urban Poverty and Its Spatial Concentration.

17. Crime in Urban Areas.

18. Education, Labor Markets, and Migration.

Part VI: Urban Growth:.

19. Models of Metropolitan Economic Growth.

20. Agglomeration Economies, Technical Change, and Urban Growth.

21. Economic Development Policies for Urban Areas.

Appendix: A Review of Some Mathematics and Microeconomic Theory.

Answers to Selected Exercises.