In present modern scientific era, Economic Geography has gained great importance because it covers all aspects of production, trade, business, transport and planning.
Definition: Economic Geography is a branch of Geography which studies the economic activities, world economic systems, agriculture, manufacturing, production, consumption, resources, transportation, trade and the relationship between the least developed countries and Most developed countries.
Scope of Economic Geography:
Economic Geography covers almost all the aspects of the human economic activities which include the following areas:
- Processes and forms of production.
- Processes and forms of consumption and realization including geographies of trade, whole sales and retails.
- The developmental dynamics, geographical intersections and transformations of circuits of social reproduction.
- Spaces of incorporation including those of labour power articulated primarily through labour markets.
- Means of coordination and exchanges through the use of money.
- Forms of states and politics and regulations which support and legitimize particular social relations and circuits of social reproduction.
- Constructions of power/ knowledge which shape discursive practices and arbitrate between competing discourses.
- Cultural and material origins of social relations of reproduction and distanciated geographies of struggles.
- Forms of calculation and measurement of value of the evaluation of circuits of social reproduction.
- Theoretical Economy, regional economy and behavioral economy.
- Economic geography covers agriculture, industry, international trade, resources, transportation and the communication sectors.