What is nature and scope and definition of economic geogrphy?
Answers
Economic geography is the study of the place, distribution and spatial organization of economic actions across the world. It represents a traditional subfield of the discipline of geography.
Economic Geography is the study of the place, distribution and spatial organization of economic actions across the world. It represents a traditional subfield of the discipline of Geography. However, in recent decades, also many economists have approched the field in ways more typical of the discipline of economics.
Economic Geography has taken a variety of approaches to many different subjects matters, including but not limited to the place of industries, economic agglomeration, transportation, economic development, real estate, gentrification, ethnic economies, gendered economies, core periphery theory, the economics of urban form, the relationship between environment and economy and globalization.
Economists, such as Paul Krugman and Jeffery Sachs have also analysed many traits related to economic geography. Krugman has gone so far as to call his application of spatial thinking in international trade theory the “new economic geography”, which directly competes with an approach within disciplines of geography that is also called new economic geography.
Economic geography is sometimes approached as a branch of anthropogeography that focuses on regional system of human economic activity. Study may focus on production, exchange, distribution and consumption of item of economic activity. Allowing parameter of space time and item to vary, a geographer may also examine the flow of material, commodity, population and information from different parts of the economic activity system.
Thematically economic geography can be divided into these subdisciplines:-
Geography of Agriculture
Geography of Industries
Geography of International Trade
Geography of Resources
Geography of Transport & Communications
6. Geography of Finance.
With the rise of the New Economy, economic inequalities are rising spatially. The new economy generally characterized by Globalization, rising of Information and Communication Technology, growth of knowledge goods, feminization has enabled economic geographers to study social and spatial division caused by the arising of New Economy including the emerging digital divide.