Posted: June 28th, 2022

Urban Economics

In this role, students should expand upon the class and homework discussion by
adding something new to the discussion. Students should not simply summarize or reiterate what has already been said. Specifically, responding students should:
1. Find at least one online resource that helps expand the discussion of the
assigned reading(s). This might include an article, paper, diagram, etc., that
help to explain, provide examples, or otherwise relate to the readings.
2. In addition to linking to the resource, the responders must provide a short commentary of the resource, describing why it was chosen and highlighting what makes it worthwhile, unusual, problematic, or educational to the
week’s discussion.
These questions may help for the Post: What are the Urban crises?
What are the urban economics metrics?
What kind of City Recovery Strategic Plan?
What have you learned from reading and analyzing this text?
Urban Economics

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Urban Economics
Economic resilience is the tendency of a particular society to adapt to and predict future changes in economic conditions for their wellness. This comprises three essential characteristics: the ability to recover very fast from a crisis, get adapted to it, and also be able to avoid it. Frequent recessions and financial crises are a big deal to the economy since their impact is persistent and goes beyond initial projections. Corrective measures need to be put into consideration to curb the risk of such crises. For instance, implementing policies that will mitigate the risks and impacts of severe events. When these measures involve an equilibrium between growth and crisis risk, actions that minimize cost should be arrived at in the end.
For resilience to bring about competitive advantage in times of crisis, managers should not put too much effort into their core competencies. They ought to put into consideration the expansion of the markets and other associates. Additionally, Core competencies need to be boosted by the skills of customers to promote competitive advantage. Enterprise risks are barriers to business progress. They need to be identified and dealt with most appropriately to promote the achievement of strategic objectives. However, sometimes it is difficult to manage them because risks are hard to quantify unless by an attempt to use statistical tools.
A city or economy should adopt Recovery strategic plans. For instance, strengthening linkages between networks of already existing businesses and centers of innovation (Nong et al., 2018). Also, by use of modern technology to facilitate the production of high-quality goods and services. Making use of creative and innovative ideas and expertise should also be put into consideration. Urban economics metrics include GDP growth rate, rate of inflation and unemployment, and the interest rate. They allow for the evaluation of economic performance, both in the past and currently, thus forecasting what is likely to happen in the future. The causes of these indicators can be identified, their effects on the economy and measures that can be put in place to alleviate them are studied.

References
Nong, D. H., Lepczyk, C. A., Miura, T., & Fox, J. M. (2018). Quantifying urban growth patterns in Hanoi using landscape expansion modes and time series spatial metrics. PloS one, 13(5), e0196940.