ECON 366 Notes (09.29.2008)

ECON 366 Notes (09.29.2008) - Econ 366 Notes 9/29/2008...

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Econ 366 Notes 9/29/2008 Recap of last chapter: theory or urban structure… some ideas (though not all) - Discussed how residences and businesses would be set up around the city, assuming that there is a central business district (CBD) - As you move closer, it is cheaper for the businesses to transport their products and cheaper for households to commute, assuming that they commute to CBD - On other hand, as you move closer, it is costlier due to increased housing prices - As we move towards the center, there will be more substitution of land by capital, so residences more capital-intensive (more high-rise buildings) - Rent gradient becomes steeper as we move closer - In order to compensate people for their high rents, the businesses that are closer to center tend to pay higher wages than businesses more away from center Chapter 7: A Critical Examination of the Monocentric Model * Mono-centric – Single CBD - Do density and rent gradients exist? -
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This note was uploaded on 09/26/2009 for the course ECON 366 taught by Professor Sengupta during the Fall '08 term at USC.

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ECON 366 Notes (09.29.2008) - Econ 366 Notes 9/29/2008...

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