Rural economics

Summary

Rural economics is the study of rural economies. Rural economies include both agricultural and non-agricultural industries, so rural economics has broader concerns than agricultural economics which focus more on food systems. Rural development and finance attempt to solve larger challenges within rural economics. These economic issues are often connected to the migration from rural areas due to lack of economic activities and rural poverty. Some interventions have been very successful in some parts of the world, with rural electrification and rural tourism providing anchors for transforming economies in some rural areas. These challenges often create rural-urban income disparities. Rural spaces add new challenges for economic analysis that require an understanding of economic geography: for example understanding of size and spatial distribution of production and household units and interregional trade, land use, and how low population density effects government policies as to development, investment, regulation, and transportation.