Urban Economics and Public Finance

Catalog description

This core course first covers the basic concepts of urban economics: central place theory, gravity models, agglomeration economies, bid rent curves, and regional settlement patterns. The course takes the theory and applies it to metropolitan outcomes: central business districts, edge cities, edgeless cities, the favored suburban quarter, and megaregions. And the impact of the COVID-19 pandemic. The second half of the course connects the community facilities section and the future land use map of the comprehensive plan with a city's capital improvements program to focus on how to pay for public infrastructure. Financing techniques include: bonds, pay-as-you-go, user fees, tax increment financing, impact fees, adequate public facilities ordinances, sales taxes, property taxes, and land value taxation. Cost-benefit analysis and other infrastructure finance practices are discussed. Applications of public finance include: (a) Financing affordable housing projects; (b) Financing economic development and redevelopment projects; (c) Financing transportation projects; (d) Structuring public-private partnership deals; (e) Financing environmental and green infrastructure projects; and (f) Issues in school finance.