Economic systems are dynamic entities, and the nature and consequences of changes that take place in these systems are of considerable importance. Regional economics represents a framework within which spatial character of an economic system can be understood. Regional economics is a relatively young branch of economics. Its late start exemplifies the regrettable tendency of formal professional disciplines to lose contact with one another and to neglect some important problem areas that require a mixture of approaches. The impact factor of journal provides quantitative assessment tool for grading, evaluating, sorting and comparing journals of similar kind. It reflects the average number of citations to recent articles published in science and social science journals in a particular year or period, and is frequently used as a proxy for the relative importance of a journal within its field. It is first devised by Eugene Garfield, the founder of the Institute for Scientific Information. The impact factor of a journal is evaluated by dividing the number of current year citations to the source items published in that journal during the previous two years.