Course Description
Examine land-use decisions and how economic models are used to predict the spatial land-use patterns. Review of applied research topics in the intersection of land use and environment. Study how researchers utilize spatial data and analyze the relationship between land-use decisions and environmental outcomes.
Additional Requirements for Graduate Students:
Each graduate student has the option of performing hedonic pricing research individually as a final project. Students are required to submit the progress in topic, research questions, and methodology and data, which will be reviewed by the instructor and graded separately in addition to the final paper.
Athena Title
Land Economics
Prerequisite
AAEC 2580 or AAEC 2580E or ECON 2106 or ECON 2106E or ECON 2106H
Undergraduate Pre or Corequisite
AAEC 3580-3580L or AAEC 3580E or permission of department
Semester Course Offered
Offered fall
Grading System
A - F (Traditional)
Course Objectives
By the conclusion of this course, students are expected to be able to: 1. Describe the main economic forces that affect land-use decisions. 2. Gain exposure to applied research in land economics. 3. Use economic theory to interpret the spatial configuration of landscapes and predict how these landscapes change as the environment, policies, markets, and institutions change. 4. Judge the applicability and limitations of economic theory to predict landscape changes. 5. Conduct and interpret hedonic pricing analysis in a final project.
Topical Outline
1. Introduction to land economics 2. Land-use models (1) Monocentric model of the city (2) Land use equilibrium (3) Spatial equilibrium model (4) Hedonic pricing model (5) Tiebout sorting model 3. Empirical research methods (1) Managing spatial data in a model (2) Hedonic pricing model (application) (3) Matching methods (4) Discrete choice and landscape simulation 4. Land use and environment (1) Market failure and externalities (2) Public land management (3) Property rights, land ownership, and natural resources (4) Wildlife conservation (5) How climate and land use interact (6) Climate change adaptation (7) Wildfire
Syllabus