Course Introduction: Overview, Format, and Objectives
Laying a Foundation for Economic Modeling
Methods for Researching the Competitive Strengths of a Region
Workforce and Growth: Using Data to Tell Your Region's Labor Market Story
Mapping Industry Clusters, Analyzing Interdependencies, and Identifying Targets
Tools for Evaluating and Communicating Economic and Fiscal Impacts

Defining and Measuring Your Regional Economy

Unit
Materials

What exactly do economists mean when they refer to a regional economy? What tools do they use to understand, measure, and compare the important economic activities that take place within a  geographical area? 

Unit Content:

  • In this unit, you’ll first be introduced to Location Quotient (LQ), a tool economists use to understand and define the economic activity within a region, as preparation for modeling a regional economy. (Note: You will delve more deeply into Location Quotient–and practice applying this tool yourself–in a later unit.)
  • Location Quotient provides researchers with a systematic method for identifying the industries upon which a regional economy is based. In other words, having a basic understanding of LQ will prepare you to model a regional economy.

Learning Objectives:

Completing this unit will equip you to do the following:

  • Better define your region as an economic entity, using concepts such as diversification and specialization.
  • Understand the concept of Location Quotient (LQ) as a key to measuring economic activity and performing economic modeling.

 

 

Materials will go here

Overview of Economic Base Theory