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. JohnMcDonald was Emeritus Professor of Economics and Finance at theUniversity of Illinois at Chicago. He holds a Ph.D. in Economicsfrom Yale University. At UIC he has served as Professor ofEconomics and Finance, Founding Director of the Center for UrbanReal Estate, Senior Associate Dean for Academic Affairs andResearch, and Interim Dean of the College of BusinessAdministration. Other positions held include Research Director atNCI Research, and Adjunct Professor of Economics in the GraduateSchool of Business, University of Chicago. Well known for hisresearch in urban economics and real estate, he is listed in Who'sWho in Economics and is author of seven books. He currently servesas editor of the Journal of Real Estate Literature. Daniel P. McMillen is a professor of economics at theUniversity of Illinois at Urbana-Champaign. He has held anappointment at IGPA since 2002. His research interests are urbaneconomics, real estate, and applied econometrics. He is editor ofthe journal Regional and Urban Economics, and has served on theeditorial boards of five other journals. In 1998 and 1999 he servedas the chair of the Department of Economics at Tulane University.In 1998, he was a research fellow for the Center for Urban RealEstate and Land Economics at the University of British Columbia. Hereceived his Ph.D. from Northwestern University in 1987.