EC967: Spatial Economics
Roberto Pancrazi
Module Leader
Introduction
The module provides students with skills and knowledge of spatial economics necessary for a career as an academic economist and in all areas where advanced research skills in economics are required. Specifically, the students will learn to understand, appreciate, and ultimately contribute to, frontier research. It is intended to be comparable to modules taught in the best research universities in the USA and elsewhere in Europe.
Principal Aims
The module aims to develop the skills and knowledge of spatial economics necessary for a career as an academic economist and in all areas where advanced research skills in economics are required.
Principal Learning Outcomes
have a comprehensive overview and a sound understanding of modern spatial economics, covering both the urban / micro-spatial tradition and the macro-spatial general-equilibrium framework that has grown out of it.
develop a critical knowledge of recent research in key areas of spatial economics, including agglomeration and city structure, housing markets, environmental and climate economics in space, quantitative spatial general equilibrium, dynamic spatial models, and optimal spatial policy.
demonstrate advanced understanding of the material required for empirical quantitative analysis in spatial settings, including shift-share instruments, market access regressions, and dynamic hat algebra.
Syllabus
Part I — Urban and Micro-Spatial Economics (Weeks 1–5)
Examples of topics: Foundations, Internal City Structure and Land Use, Housing Markets and Housing
Supply, Environmental Economics in Space, Climate Change and the Geography of Activity
Part II — Macro-Spatial Economics (Weeks 6–10)
Examples of topics: Quantitative Spatial General Equilibrium, Spatial Misallocation and Aggregate
Productivity, Local Labour Markets and Migration, Sorting, Optimal Spatial Policy.
Context
- Optional Module
- L1PL - Year 2
- Pre or Co-requisites
- Satisfactory completion of MRes year 1
Assessment
- Assessment Method
- Coursework (100%)
- Coursework Details
- Coursework (100%)
- Exam Timing
- N/A
Subject Specific Skills
- Analytical thinking and communication. Analytical reasoning. Critical thinking. Problem solving. Abstraction. Policy evaluation. General equilibrium reasoning. Identification and causal inference in spatial settings. Quantitative model calibration and counterfactual analysis. Understanding of agglomeration and spatial externalities. Concepts of sorting and selection across space. Understanding of dynamic spatial adjustment.
Transferable Skills
- Research skills. Numeracy and quantitative skills. Written communication. Mathematical, statistical, and data-based research skills. Coding skills (R and MATLAB). Refereeing and critical reading of academic papers. Research proposal writing. Presentation skills.