What is Land Economics?
Land economics is a subfield of economics that focuses on the use of land and land’s function in the economy.
Land economics frequently overlaps with environmental economics, as land use decisions have an influence on the health of the environment, and many land economics trade publications focus on the global environmental consequences of land use.
This economics subfield’s specialists are employed in a variety of settings, including university campuses and public utilities.
Understanding Land economics
Land is a resource similar to labor and capital, particularly when it contains reserves of natural resources such as minerals, oil, and wood. It is also a finite resource: the quantity of land accessible on Earth is limited, however land speculation can lead to circumstances in which the supply of land cannot match demand.
Whether land is used for urban or rural purposes, the manner in which it is utilized can have a significant influence on a local or national economy. Land economics is also interested in the public and private uses of land, as well as their often competing requirements.
Fields of Focus in Land Economics
Land allocation is one of the primary areas of study in land economics. As a fixed resource, the availability of land determines its value, and the distribution of land resources may have a significant impact on how land is utilized.
In densely populated cities, for instance, land can be limited, difficult to acquire, and expensive. However, in rural areas, land may be quite affordable due to low demand. Or, the demand for property suitable for housing may drive up the price of farmland, making it harder for farmers to acquire or hold land for agricultural purposes.
Land economics with the government
Researchers in this discipline may examine topics such as the government’s acquisition of property to meet right-of-way obligations for roads and utilities, and land use rules that cause enormous tracts of land to stay empty and useless for extended periods.
In addition, they investigate how land may be made more lucrative and how land prices fluctuate over time in response to a number of circumstances, such as market forces and the discovery of natural resources.
Land economics with politics
The study of land economics is frequently intertwined with politics, particularly municipal politics. Strong planning commissions and lobbying groups may be able to shape land use rules and the economics of locally accessible land in ways that economists sometimes find surprising.
Regional and national governments also play a role in land economics by adopting laws meant to strike a balance between the demands of individuals, the government, and the population as a whole.
Land Economics Foundation (LEF)
The Land Economics Foundation (LEF) is a philanthropic organization whose mission is to run an investment fund that provides grants to improve the application of land economics in accordance with the shared objectives of Lambda Alpha International (LAI) and the Foundation:
Bringing together experts. Sharing expertise Developing the finest practices.
Since 1965, the Land Economics Foundation has funded a variety of research, case studies, and community initiatives that apply land economics to human concerns in an effort to improve the future. Please click on the Research Priorities tab for the most recent funding announcement.
The majority of the Foundation’s funding comes from the annual donations of LAI members, however contributions from others are welcome. To provide assistance,
Schools, governments, researchers, community groups, and other not-for-profit institutions, in addition to LAI members and Chapters, are eligible to submit grant applications. At any moment, applications may be filed.
The LEF Board of Directors analyzes applications and sends qualifying applications to the LEF Board of Trustees for approval at spring and autumn sessions.
Numerous factors are considered during the review process, including the amount requested, the availability of matching funds, the quality of research methodologies, the credibility of principals and school credentials, the relevance of the proposal to urgent issues, community support, and innovative planning, among others.
To date, a thorough listing of grant recipients, amounts, and grant aims may be seen under the tab Funded Research.
This charity foundation’s overarching mission is to establish and manage a research and education Investment fund for perpetuity or until such fund is dissolved by law. This fund’s objectives are:
To promote the study of land economics and the highest standards of research and honesty in the professional, corporate, governmental, and academic domains where land economics is practiced.
To increase awareness and understanding of land economics concepts and to promote their use in public policy and commercial enterprise.
To offer funds for research, community, and chapter initiatives pertaining to land economics that have been authorized by the Board of Trustees; and To perform or enable such other projects and activities that would further the mutual aims of LAI and LEF and the aforementioned purposes.
In addition to commercial regulation, the financial implications of real estate, and international development, law, economics, and their link to the built and natural ecosystems are fundamental to Land Economy.
The course’s interdisciplinary nature is especially pertinent in the twenty-first century, when the environment, law, and economics, as well as the control of precious resources, impact the everyday lives of people throughout the globe.