Jun 27th, 2015
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Academy of Art University
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What is Economic Geography?The study of how people earn their livingHow livelihood systems vary by areaThe distribution of various resources in theworldHow economic activities are interrelated andlinkedToday, it is categorized as:Core countries wherericher countries areclusteredPeripheries countries ofpoverty andunderdevelopmentThird World (1950s) a termapplied to countriesconsidered not yet fullydeveloped or in a state ofunderdevelopment ineconomic and social termsFirst world Western capitalistblocSecond World communist blocCore-PeripheryEconomic DevelopmentIs discussed in terms of levels and rates of change inprosperity, as reflected in bottom-line statistical measuresof productivity, incomes, purchasing power, andconsumption.For human geographers, Economic Development refers toprocesses of change involving the nature and compositionof the economy of a particular region, as well as toincreases in its overall prosperity.Unevenness of EconomicDevelopmentCoreperiphery Contrasts as the result of acompetitive economic system that is heavilyinfluenced by cultural and political factors.CorePeripherydeveloped regionsThird World countriesG8 and G20ResourcesAvailability of key resourcesKey Industrial Resourcesbasic raw materials andsources of energyare concentrated in Russia, US,Canada, South Africa, and Australia.Exception: Oil fields concentrated in the Middle East

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