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From Citizendium, the Citizens' Compendium

Land economics concerns itself with the study of land use, natural resources, public utilities, housing, and urban land issues.

In political economy land was treated as a factor of production without being relegated to a sub-discipline.

Since land cannot be entirely ignored, during the development of neoclassical economics, in the first thirty decades of the twentieth century,^[1] a place had to be found for land. This need was satisfied by creating land economics as a sub discipline in mainstream economics.^[2]

1. ↑ Mason Gaffney in The corruption of Economics(1994), pp. 95-96.
2. ↑ Mason Gaffney, in Land and Taxsation, ed. Nicolaus Tideman (1994), pp. 40-41.