Syllabus.pdf - Esteban Rossi-Hansberg Visiting Professor of...

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Esteban Rossi-HansbergChicago Booth Web-Page Visiting Professor of Economics Princeton University Web-Page Booth School of Business [email protected] University of Chicago Office Hours: Thursdays 2:15 to 3:15PM Theodore A. Wells ’29 Professor of Economics Harper Center 409 Princeton University Urban Economics 33454, Winter 2019 Thursdays 8:30 to 11:30AM at Harper Center C04 and Thursdays 6:00 to 9:00PM at Gleacher Center 404 Booth School of Business, University of Chicago Teaching Assistant: Meru Bhanot, [email protected] Office Hours: Thursdays from 1:15 to 2:15PM at Harper Center C50A and Thursdays from 5:00 to 6:00PM Gleacher Center 430 TA cubicles Canvas Site: Overview: The decision of where to locate is essential for both business and individuals. It determines the profits of firms through the cost of inputs, market size, the level of competition, and the policy environment they face. It also determines the job opportunities, schooling, and other amenities accessible to individuals. In turn, firm and individual decisions aggregate to determine the performance of cities and regions. This course studies business and individual location decisions and how they determine the main economic forces that lead to the existence and performance of cities and regional agglomerations. The course starts by developing a simple theory of cities and its implications for city size, firm productivity, and housing prices. It then studies evidence on the impact of cities on firm and worker productivity, urban amenities, and congestion. We will discuss the problems in measuring these forces, the methodologies to do so, as well as the implications of this measurement for businesses, individuals, and urban policy. We will also study the internal structure of cities, and how to evaluate the effect of new infrastructure or policy on land and housing values and overall welfare. Finally, the course will analyze the role cities and regions play in aggregate economic development. Grading:Your grade will be based on class participation, an in-class midterm in the 5thweek, a class presentation, and a course project. Class participation consists of reading the articles assigned for the class and being ready to discuss them. The class presentation will be on your urban business or policy project and will be scheduled during the last week of the course. A written draft of your project is due on a date of the final exam. The project should be a business or policy proposal on an urban issue. It can range from a specific investment in one city to a wide-ranging business or policy encompassing a region or many cities in a country. The project should be clearly structured, have a an economic evaluation, and a clear discussion of the arguments in favor and against its implementation. Your arguments should be based on relevant data and theory. In general, it helps to be specific. Group work is encouraged but not necessary. Groups working

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