URBS 457/557: Economic Development Spring Semester 2014 Monday 6:00 – 8:45 p.m. This syllabus is subject to change without notice. Students should check D2L for the most current changes. Instructor: Mr. Mitchell R. Berg E-mail: mitchell.berg@mnsu.edu Office Hours: TBA Phone/Voice Mail: Classroom: (C) 651-231-0357 (W) 507-389-5727 MSU Edina Campus Text(s): Economic Development: Strategies for State and Local Practice, 2nd Edition, Koven and Lyons (2010) ISBN: 978-0-87326-191-3 Selected readings to be assigned – to be handed out in class Optional: Urban Economics, 8th Edition, 8th Edition, Arthur O’Sullivan (2012) ISBN: 978-0-07351147-4 Course Goals: The purpose of this course is to provide students with a comprehensive overview of economic development theories, strategies and tools. Student Learning Outcomes: Knowledge of: 1. Understand how economic development theories can influence local economic development through the comprehension of: a. Understanding why cities exist in the first place and what their benefits are to society and to the economy b. Understanding how market forces impact the development of cities c. Understanding why firms cluster 2. Understand the role of how federal, state, and local governments can promote economic development 3. Understand a city’s economic development strategic plan (SWOT) process 4. Design and understand a Business and Retail analysis Study and a Tax Increment Financing Plan 5. Become familiar with economic development tools (e.g. non and financial incentives and tax policies) and their application, including but not limited to: a. Grant and loans b. Tax Abatement and TIF c. New Market Tax Credits (NMTC) and other tax credits d. Other economic development tools 6. Understand how to conduct a Location Quotient (LQ) analysis 7. Learn current approaches to business attraction, creation, and retention Instructional methods and teaching Strategies: Students will learn economic development theories and become familiar with economic development tools and strategies through a combination of teaching techniques, including but not limited to: Lectures Guest Speakers Individual projects Assignments: The assignments for this course consist of individual and group projects and speaker questions. I will not give partial credit for late assignments that come in after the class due date; unless prior written agreement has been made between the professor and the student. All assignments must also be submitted into the D2L drop box. Assignments not submitted through the D2L drop box will not receive credit, unless alternative arrangements have been made beforehand. Writing Assignments (3 assignments) You will be responsible to find and write about an economic development topic (to which the instructor will announce in class.) You are to make a copy of the article and write a 2-4 page paper. Come prepared to discuss your article and relate it to our class. Guest Speaker questions (5 guest speaker sessions) You will be required to develop two (2) intelligent and meaningful questions to pose to them. Your questions must be typed and have your name and date showing in the upper right hand corner. In addition, you must submit your written questions to me prior to the start of class to be eligible for credit. Projects o Project #1 - See overview of writing assignment (Graduate students will be required to do a 10 minute presentation) o Project #2 - See overview of writing assignment (Graduate students will be required to do a 10 minute presentation) o Project #3 - Project #2 - See overview of writing assignment (Graduate students will be required to do a 10 minute presentation) Final: The final examine will be Project #3 Guest Speakers: Throughout the semester guest lecturers may speak to the class. These appearances will be listed on D2L or announced. Guest speakers may include community leaders, lobbyists, and appointed or elected officials. Be sure to ask the instructor the week before their appearance for some background information on speaker as you will be required to develop two (2) intelligent and meaningful questions to pose to them. Your questions must be typed and have your name and date showing in the upper right hand corner to earn credit. They are to be turned in at the start of class in order to receive credit. Note: Open laptops, text messaging, or cell phone use during these presentations are prohibited. Student Code of Ethics: Students should familiarize themselves with the university’s policy on plagiarism. Be sure to use APA style guidelines when citing all your work. Plagiarized assignments will result in a failing grade. Course Attendance: You are expected to attend each and every class. Students coming in late or leaving early will not get full attendance points. This is a blended course, for which some of the classes will not be held in person, but will be held on-line. For those classes that are held on-line students will receive attendance points based on the quality of participation from the on-line discussions. Excused absences are only permitted for University sponsored events or activities. A total of 15 class points will be awarded. Class participation shall be considered when awarding attendance points. Class Cancellations: Due to inclement weather or events beyond the university’s or the professor’s control there may be a class session (or more) that will need to be cancelled. Every available attempt will be made to contact each student via D2L or at the least an announcement shall be posted on the class door. Nevertheless, if a class is cancelled all assignments, readings and papers shall be due on the date listed in the course calendar by 6:00 p.m. of the day of class. If, however, a class is cancelled the professor has the right to adjust the syllabus and course schedule as deemed necessary. Any changes or adjustment to this syllabus or course schedule shall be sent out in writing and, if possible, posted onto D2L. Grading: Maximum points 100 Attendance and Participation: 15 Assignments 15 (max. 5 points each) Guest Speaker Questions 10 Midterm 15 Project #1 10 Project #2 15 Project #3 – Final 20 ADA: ADA requires that the university provide services for persons with disabilities. For more information regarding the services that are available to you, please contact the MSU Disability Services Office at 507-389-2825 or 1-800-627-3529 (MRS/TTY). If you are a person with a disability, please discuss any special needs with me within the first week of class. This will allow you and the instructor ample opportunities to make arrangement for taking notes, completion of assignment and examinations. Other Policies: You should exchange contact information with at least two of your fellow students. These contacts should be used to learn about what you missed when absent. Assignments may be posted on D2L. Overview of Writing Assignment There are three writing assignments which are worth 10, 15, and 20 points each, for a total maximum of 50 points. Please use the APA style guidelines for your citations used; please use Arial, font size 11 or 12, 1 inch margins (top/bottom/left/right), when writing your papers. Graduate students please asked to prepare to present both Projects 1-3 in front of the class. Please be prepared to put together a 5-10 power point slide and be prepared to speak for 10-15 minutes. Project 1 - Prepare an economic development report for a community of your choice (3-6 pages) Provide historical context to how the city formed and what economic activity spurred your community to thrive Provide socio-economical background info and tell me about the community’s past, present. Are there any competitive advantages that exist in your community What would you propose would help your community stay competitive in future Project 2 – Prepare a retail trade analysis of a community (10-15 pages) Inventory and identify what is existing o Identify the existing businesses and services in your community o Identify traffic patterns o Demographics o Existing sales information Determine your trade area – primary and secondary o Identify demographics of the primary and secondary trade area Examine what other communities of your size have for retail and services List retail and services that your community could obtain to fill in “gaps” Project 3 (Final) - Prepare a TIF plan (10-15 pages) To be discussed in class Presentation Rubric (for graduate student individual presentations) Presentation Visual Elements (5) Delivery (5) Novice Problems with organization and style. Competent Proficient Minor problems in organization or errors. Clear Organization. Irrelevant Content. Relevant Content. Supportive Content. Unprofessional Quality. Simple, Clear Design. Error Free. Neat Appearance. Disfluency interferes with presentation. Minor disfluency or awkward intonation. Fluid and Expressive. Unclear or difficult to understand. Clear voice, may lack expression. Facial Expression and eye contact. Conversational Intonation. Content (15 ) Unclear explanation. Does not address main purpose and objectives. Provides explanation. Relates main purpose and objectives Clear explanations. Developed and applied purpose and objectives. Grading Rubrics For Project 1 Spelling, Grammar and Punctuation - max 15% Content - max 45% Analays - max 30% Exceeds Expectations A few spelling, No spelling, grammar, punctuation or or punctuation mistakes grammar mistakes Addresses and may go beyond addressing all the bulleted items in a Adequately covers or clear and concise misses parts of the manner assignment Articulates an insightful Response to the items and thoughtful asking for the student response to bulleted to give their thoughts items asking for the or impressions is students thoughts and there or partly impressions missing Citation - 10% Includes properly cited sources to APA style guidelines For Project 2 & 3 Exceeds Expectations Spelling, Grammar and Punctuation - max 15% Content - max 30% Meets Expectations Mostly includes citations and source that adhere to APA style guidelines Multiple grammar, punctuation, or spelling mistakes Largely missing or not responding to many of the bulleted items Student does not provide any response to the items where they are asked to give a thought or impression Does not include any or misses sources and citations and does not follow APA style guidelines Meets Expectations Needs Improvement A few spelling, Multiple grammar, No spelling, grammar, or punctuation or grammar punctuation, or punctuation mistakes mistakes spelling mistakes Addresses and may go beyond addressing all the Adequately covers or Largely missing or not bulleted items in a clear misses parts of the responding to many and concise manner assignment of the bulleted items Tables and graphs are accurate; easy to understand; and Tables, Figures and Graphs- contribute to the content max 15% of the report Articulates an insightful and thoughtful response to bulleted items asking for the students thoughts Analays - max 30 and impressions Citation - 10% Needs Improvement Includes properly cited sources to APA style guidelines Tables and graphs may include a few errors and mistakes Response to the items asking for the student to give their thoughts or impressions is there or partly missing Mostly includes citations and source that adhere to APA style guidelines Tables and graphs are inaccurate and/or missing Student does not provide any response to the items where they are asked to give a thought or Does not include any or misses sources and citations and does not follow APA style Overview of Assignments You will be responsible to find and write about an economic development topic (to which the instructor will explain in greater detail during class.) You are to write a 2-4 page paper. Please double space your paper and cite any sources using APA style guidelines. Come prepared to discuss your article and relate it to our class. 1. Find a business which has relocated to Minnesota; identify what market forces brought the company to locate here. (Refer to below grading rubric) 2. Conduct a LQ analysis of a community of your choice to that of the state for which the community resides. Identify what industrial sectors have a high LQ and analyze why? (Refer to the grading rubric for Projects 2 and 3) 3. Find two articles comparing and contrasting the benefits of government providing economic development subsides to promote private sector growth in a community. Please tell me if you agree or disagree and why? (Refer to the grading rubric for Project 1) Grading Rubric for assignment 1 Exceeds Expectations Meets Expectations Spelling, Grammar and Punctuation - No spelling, grammar, or max 15% punctuation mistakes Content - max 80% Citation - 5% Provides an intro; body and conclusion; addresses all bulleted items in a clear and concise manner; articulates an insightful and thoughtful response to bulleted items asking for the students thoughts and impressions Includes properly cited sources to APA/MLA standards at the end of the paper Needs Improvement A few spelling, punctuation or grammar mistakes Multiple grammar, punctuation, or spelling mistakes Adequately covers or misses parts of the assignment; response to the items asking for the student to give their thoughts or impressions is there or partly missing Largely missing or not responding to many of the bulleted items; student does not provide any response to the items where they are asked to give a thought or impression Mostly includes citations and Does not include a source that adhere to APA style source at the end of the guidelines paper Course Calendar January 13 Introduction Market Forces in the development of cities – Urban Economics Chapters 1 and 2 January 27 Market Forces in the development of cities – Urban Economics Chapter 2 and 3 Project 1 due Project1 Presentations February 3 Economic Theory - ICMA Economic Development Chapter 2 Local Quotients Assignment #1 due and class discussion February 10 City Size – Urban Economics Chapter 4 Guest Speaker – Craig Waldron Assignment #2 due February 17 Discussion on Retail Analysis Assignment – Guest Speaker Adeel Ahmed, U of M Extension Urban Growth- Economics Chapter 5 Talk about project #2 February 24 Guest Speaker – Jim White, Fine and Associates Urban Land Rent – Urban Economics Chapter 6 US Census Presentation Topic for project #2 due and class discussion Chapter Recap March 3 Midterm March 17 Planning for Economic Development – ICMA Chapter #3 SWOT exercise Guest Speaker – Anita Rasmussen Project #2 due and presentations March 24 Tools for economic development – ICMA Book Chapter #4 Guest Speaker – Todd Hagen Talk about Project #3 March 31 Current Approaches to Business Attraction and Retention – ICMA Book Chapter #5 Assignment #3 due and class discussion Talk about TIF worksheet Topic for Project #3 due April 7 – On-line Business Creation – ICMA Book Chapter #6 On-line Discussion questions – TBA Project #3 - TIF worksheet due (submit online) April 14 – On-line High Technology, Education and Development – ICMA Book #7 On-line Discussion questions Due – TBA Project #3 draft report due (submit online) April 21 The Role of Local Government and Local Government Revenue – Urban Economics Chapters 16 and 17 Recap of Class April 28 Final presentations Final Project #3 papers due