Lecture
This lecture explores urban models and economic theories related to land and real estate, focusing on conceptual models derived from information theory, normative city models, economic theories on urban form, and a qualitative critique of quantitative models. It delves into the complex city model using the example of Montreal's Inner City, discussing the circulation model, translation, and the concept of arbitrage in the context of financial and real estate investments. The instructor emphasizes understanding cities through circulation models, highlighting the importance of stocks, flows, and interceptions in urban economics.