ECON - Economic Geography [OVERVIEW]
Economic Geography
Introduction
Welcome to the Economic Geography module! Economic geography is the study of the distribution, production, and consumption of goods and services within geographic spaces, examining the spatial patterns and interactions that shape economic activities and outcomes. Have you ever wondered why some countries thrive while others struggle economically? This module explores the detailed relationship between geography and economic development, exploring how factors like location, resources, and trade shape the economic landscapes of nations around the world. From examining per capita Gross Domestic Product (GDP) to analyzing the impacts of urbanization and international trade, this module will illuminate the dynamic forces driving global economic systems. And what does “per capita” even mean, anyway? We will learn! Let’s go!
Guiding Questions 🧭
In this module, we will be unraveling these knowledge-based questions:
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- How do we measure and compare the economic development of countries?
- What are primary, secondary, and tertiary economic activities within countries, and how are they related?
- How do site and situation influence where economic activities are located?
- What are the causes and consequences of urbanization on economic development?
- How does legal and illegal trade across international borders impact economic relationships between countries?
Key Terms
Demographic indicators | Statistics relating to the characteristics of a population, such as age, gender, and race.
Employment patterns | The distribution and types of jobs within a society, influenced by factors such as technology, education, and government policies.
European Union (EU) | Political and economic union of many European countries, promoting regional integration and cooperation in various areas, primarily focusing on political, economic, and cultural cooperation.
Gentrification | The transformation of a neighborhood through the influx of wealthier residents and businesses, leading to rising property values and displacement of lower-income residents.
Gross Domestic Product (GDP) per capita | The total value of goods and services produced by a country, divided by the total population, indicating the average production of each person in a place.
Human Trafficking | The illegal trade and exploitation of individuals, typically for forced labor, sexual exploitation, or other forms of involuntary servitude, often through coercion, fraud, or deception.
Illegal trade | Unlawful exchange of goods and services, including activities like human trafficking, drug trade, and counterfeiting/black market goods.
International trade | The exchange of goods, services, and capital across national borders between countries, facilitating the flow of goods and resources in the global marketplace.
Legal trade | Exchange of goods and services sanctioned by governments and regulated by international agreements.
Life Expectancy | The average number of years a person is expected to live, typically at birth, within a specific population or geographical area, reflecting overall health and quality of life factors.
Literacy rate | The percentage of the population over a certain age that can read and write at a specified level of proficiency, typically expressed as a percentage.
North American Free Trade Agreement (NAFTA) | Was a trade agreement between Canada, Mexico, and the United States, implemented in 1994, aimed at reducing tariffs and promoting economic cooperation. In 2020 the United States-Mexico-Canada Agreement (USMCA) replaced NAFTA, reflecting updated provisions and modernized trade relations.
Organization of the Petroleum Exporting Countries (OPEC) | Intergovernmental organization consisting of major oil-exporting nations (many in Southwest Asia), aimed at coordinating and stabilizing oil prices in the global market.
Primary economic activities | Economic activities involving the extraction of raw materials from the Earth, such as agriculture, mining, and fishing.
Secondary economic activities | Economic activities involving the manufacturing and processing of raw materials into finished goods, including industries like construction and manufacturing.
Site | The physical characteristics of a place, including the topography, climate, and natural resources.
Situation | The relative location of a place in relation to its surrounding environment, especially its accessibility to transportation networks and markets.
Social indicators | Measures that assess the well-being of a society, including literacy rate, life expectancy, and access to healthcare.
Squatter settlements | Informal housing developments built by individuals or families on land they do not own or have legal rights to, often lacking basic services and infrastructure.
Tertiary economic activities | Economic activities providing services rather than goods, such as retail, education, healthcare, and finance.
UN Sustainable Development Goals for 2030 | A set of global objectives established by the United Nations to address various social, economic, and environmental challenges, aiming to achieve sustainable development worldwide by the year 2030.
Urban sprawl | The unplanned and rapid expansion of urban areas into surrounding rural lands, often resulting in inefficient land use, increased dependence on automobiles, and environmental degradation.
Urbanization | The process of population concentration in urban areas, often accompanied by the growth of cities and the development of infrastructure.
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