This Second Edition arms real estate professionals with a comprehensive approach to the economic factors that both define and affect modern urban areas. The text considers the economics of cities as a whole, instead of separating them. Emphasis is placed on economic theory and empirical studies that are based in economic theory. The book also explores the policy lessons that can be drawn from the use of economics to understand urban areas. Real estate professionals will find new coverage of urban areas around the world to provide a global perspective.
John F. McDonald is currently at Roosevelt University, Chicago, as the Gerald W. Fogelson Distinguished Chair in R.E. John McDonald was Emeritus Professor of Economics and Finance at the University of Illinois at Chicago. He holds a Ph.D. in Economics from Yale University. At UIC he has served as Professor of Economics and Finance, Founding Director of the Center for Urban Real Estate, Senior Associate Dean for Academic Affairs and Research, and Interim Dean of the College of Business Administration. Other positions held include Research Director at NCI Research, and Adjunct Professor of Economics in the Graduate School of Business, University of Chicago. Well known for his research in urban economics and real estate, he is listed in Who's Who in Economics and is author of seven books. He currently serves as editor of the Journal of Real Estate Literature.
Daniel P. McMillen is a professor of economics at the University of Illinois at Urbana-Champaign. He has held an appointment at IGPA since 2002. His research interests are urban economics, real estate, and applied econometrics. He is editor of the journal Regional and Urban Economics, and has served on the editorial boards of five other journals. In 1998 and 1999 he served as the chair of the Department of Economics at Tulane University. In 1998, he was a research fellow for the Center for Urban Real Estate and Land Economics at the University of British Columbia. He received his Ph.D. from Northwestern University in 1987.
New to Edition
New chapter on Urban Poverty in Developing Nations to go along with the Poverty in the U.S. Cities chapter.
Extensive international examples from Europe and Asia interspersed throughout the text.
New chapter on An Urbanizing World and Its Great Cities
New chapter on Urban Infrastructure
Features
Provides a comprehensive approach to the economic factors that both define and affect modern urban areas, considering the economics of cities as a whole, rather than separating them into isolated topics
Analyzes topics such as urban housing, real estate markets, growth, and social and policy issues, and how these affect the economic functioning of a city
Includes in-depth discussions of real estate markets and policy issues
Considers the changing role of the city in economic life, and the effects of social problems, such as crime, poverty, and education that often accompany these changes
Offers a dedicated author-hosted website containing supplemental material at http://www.uic.edu/~mcmillen
