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Regional economics is a relatively new formal branch of economics which recognizes the crucial importance of geography in the workings of a market economy. By incorporating variables of space and geography into traditional economic models, it has great relevance to real world phenomena and policy questions. We examine the effects of market forces on spatial variables such as the location choices of households and firms; land use policy; labor market agglomeration; urban poverty; the development of transportation infrastructure; and urban and rural housing markets. The roles of natural resources, demographic base, location of industries, and factors determining regional growth and development will also be considered. Prerequisite: 440.601 Microeconomic Theory and Policy. Corequisite: 440.606 Econometrics.