Understand the political and economic arguments regarding urban growth policies Recognize the relationship between the public good qualities of open land and the "socially optimum" level of sprawl vs the "market" level of sprawl Be able to explain what the "congestion externality" is and how it impacts the socially optimum level of sprawl vs. the market level of sprawl Be able to identify other negative impacts that sprawl generates as well as market distortions that encourage urban boundary growth Be able to explain urban growth management policies of greenbelts and urban growth boundaries and the theoretical economic impact those would have on urban land/rental prices. Be able to explain the effect of building-height restrictions on urban land/rental prices and urban bound- aries