Apr 4
Lamson Lecture in Economics
2018 Lamson Lecture in Economics
April 4th - 4:15pm - Library Athenaeum
'Bio-fuels, Price Supports and Urban Growth in the American Heartland' by William Hoyt '81, Professor of Economics, University of Kentucky, Gatton College of Business and Economics
In the classic monocentric city model, the opportunity cost of expanding the city (metropolitan area) is the value of land in non-urban uses, typically agricultural production. In this study, Hoyt addresses how changes in agricultural land value, due to both market and non-market (government) conditions affects urban population, labor, and wage growth in urban areas located in regions with significant agricultural production. The results and estimates of the study are used to simulate the impacts of changes in governments subsidies, bio-fuel subsidies, and technological change in agriculture on urban growth in metropolitan areas in agricultural regions.
The annual Lamson Lecture was initiated by the Economics Department in honor of Professor George Lamson, a longtime colleague and friend, who died unexpectedly in China in 2002. His devotion to his students was extraordinary and he followed their careers with interest over the years. The Lamson Lecturers are Carleton economics alums who have gone on to make significant contributions to the field and to society.