It is important to have a strong grounding in theory in order to practice effectively in the field of economic development. This course provides an integrated study of the definitions, theories, concepts, strategies, and practice of local and regional economic development in the U.S. During the first two-thirds of the course, students will examine the theories and models of economic development widely used to explain and understand the development process at the local and regional levels. The text used for this part of the course will be Understanding Local Economic Development (forthcoming, Rutgers University Press) by Malizia and Feser. Theories covered include economic base theory, trade theory, growth theories and models, product cycle theory, entrepreneurship, innovation theories, flexible specialization, and institutional theories of development.

During the last third of the course, students will examine different economic development techniques from the perspective of theories that were covered earlier in the course. They will gain exposure to different techniques through articles from economic development journals and discussions with economic development professionals that are guest speakers. Through this process, they will gain a better understanding of current issues in economic development and what economic development professionals do in their jobs.