332_FinalReview_2008 - Geog 332 Economic Geography Study...

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Unformatted text preview: Geog 332 Economic Geography Study Sheet for Final Exam May 2008 Please note that much of the most important material was covered verbally or on the board during live lectures and is NOT on the web. This list is meant to illustrate topics and key points; it is not necessarily a complete list of everything you should know for the exams. anything from lecture (including material that was not in PowerPoint) anything from lecture topics in PDF files posted on the course Forum o Except: You don't need to know Competing Destinations and Reilly Models. my definition of the three-part globalization processes/cycle (with the arrows) site versus situation, and why and how each matters for economic geography positive versus negative feedback, path-dependence, and lock-in opportunity cost, gains from trade, and absolute versus comparative advantage how space and time often violate the four basic assumptions of classical economics via: o thin markets (too few buyers and/or sellers), o transactions costs, o externalities, o economies of scale (or path dependence or lock-in) Pareto Optimal frontier and efficiency versus equity Dead Weight Loss (DWL), demand and supply curves, elasticity, and anything else covered in the microeconomics review why and how geographic distance acts like a tax on transactions between different places 7 principles of Microeconomics discount rate over time versus distance decay over space net present value versus net locational value von Thnen's model of agricultural locational value Weber's Material Index and Industrial Location Christaller's range, threshold, and Central Place Theory low-order versus high-order goods the Gravity Model of spatial interaction the Market Potential model and equation Ecological Footprint, its key determinants, and how this relates to development and to demographics concepts of Natural Capitalism, biological versus technical nutrients, how to market goods as services (e.g. carpets, computers, cars, weed/pest control) Specific Factors Theorem: When trade is opened, mobile factors (labor or capital that can switch from one industry to another) gain no matter where they were originally employed, but the return (relative wage) to industry-specific factors (that can't switch) declines for the industry that is not favored by trade (because other factors move away, so the ones left behind each have less to work with (e.g. fewer tools, or fewer workers to operate them) AND they also get a lower price for the product they are producing). Paul Krugman's two modern alternatives to Hecksher-Ohlin trade theory basic network analysis and measures such as finding the shortest path, filling out the shortest path table for directed and also for undirected networks, beta, degree, eccentricity, radius, diameter, center node(s) advanced network analysis measure such as Characteristic Path Length and nCPL effects of spatial technologies on spatial interactions; shrinking versus shriveling characteristics of the four major classic sectors: GROW, MAKE, SERV, INFO Free Trade's effect on the exporting country and on the importing country know the diagrams Effects of an Import Tariff know the diagrams Arguments for Free Trade Arguments for Protectionism (see trade notes online) Extra credit material: Anything from the PRB lecture notes on Demographicsm (see PDF for 8th May). Brundtland definition of sustainability know this verbatim, in your sleep! "Development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs." Exam questions are likely to be similar in style to questions on other exams. ...
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This note was uploaded on 08/28/2009 for the course GEOG 332 taught by Professor Staff during the Spring '08 term at Maryland.

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