What are the benefits of studying economic geography for economics?

1 Analyzing spatial data

Economic geography relies on various methods and tools to collect, visualize, and interpret spatial data, such as maps, graphs, statistics, and geographic information systems (GIS). These skills can help you understand and communicate complex economic phenomena that have spatial dimensions, such as regional disparities, urbanization, globalization, and environmental issues. You can also use spatial data to test hypotheses, identify trends, and evaluate policies that affect economic outcomes in different places.

2 Applying spatial theories

Economic geography offers a range of theoretical frameworks and perspectives to explain and predict how economic activities are distributed and organized in space, such as location theory, regional growth theory, spatial equilibrium theory, and new economic geography. These theories can help you understand the underlying forces and mechanisms that shape the spatial structure and evolution of economic systems, such as agglomeration, specialization, diversification, innovation, and network effects. You can also use spatial theories to compare and contrast different economic models and paradigms, such as neoclassical, institutional, behavioral, and evolutionary economics.

3 Evaluating spatial policies

Economic geography provides a critical lens to assess the impacts and implications of various policies and interventions that aim to influence the spatial allocation and distribution of economic activities and resources, such as regional development, urban planning, transport, trade, and environmental policies. These policies can have significant effects on the welfare and performance of economic agents and regions, such as firms, households, workers, cities, and countries. You can use economic geography to evaluate the effectiveness, efficiency, equity, and sustainability of spatial policies and to propose alternative or complementary solutions.

4 Exploring spatial diversity

Economic geography exposes you to the rich diversity and complexity of economic systems and processes across different spatial contexts and scales, such as local, national, regional, and global. You can learn about the historical, cultural, institutional, and environmental factors that shape the economic characteristics and dynamics of different places and regions, such as their resources, productivity, competitiveness, innovation, governance, and development. You can also learn about the opportunities and challenges that arise from the interactions and interdependencies among different places and regions, such as cooperation, competition, integration, and conflict.

5 Developing spatial skills

Economic geography can help you develop and enhance your spatial skills, which are essential for economics and many other fields and professions. Spatial skills refer to the ability to perceive, manipulate, and reason about spatial information and relationships, such as shapes, distances, directions, and locations. Spatial skills can improve your cognitive abilities, such as memory, attention, problem-solving, and creativity. They can also improve your practical abilities, such as navigation, orientation, design, and communication.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?