In terms of heart rate I think its between 60% and 65% of maximum heart rate that is a minimum for getting any real aerobic benefit. Most serious runners do easy runs between 70% and 75% of Maximum Heart Rate.
** note this as a percentage of maximum heart rate not useable heart rate (max - min) used by some coaches.**
As a VERY rough gauge here are some milestone levels but remember heart rate varies depending on a number of factors (weather, altitude, time of day).
65-80% easy earobic running
80-88% aerobic threshold running
88-92% lactate threshold running
93-97% groove pace running (8k-10k pace)
98%-100% VO2 max pace work
Of course for any of this to be valuable you need to accurately determine what your max heart rate is. Do not rely on a standard formula as those can be of by as much as 20% for some people.
The method I like in determining max heart rate is running a fast half mile to mile (think mile to 2 mile pace) with a long uphill at the end of it, once you get to the hill up your pace into a sprint for as long as you can and as your legs finally give out see what your heart rate is, this is likely your max rate.