REMB27-Real Estate Economics

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Summer term module
Non-modular pre-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Prof Michael Ball


Summary module description:

The module aims to build a solid foundation in the economics of property to provide an insight into the application of economic principles and models to property and land use.

Assessable learning outcomes:
The module emphasises knowledge and critical understanding of the economic principles underlying property markets. -evaluate critically the main economic concepts and models relating to the economics of property and land; -a systematic understanding of the influence of economic conditions and public policy on the property sector; -a comprehensive understanding of the principal determinants of the demand for, the supply of, and the location of commercial, industrial and residential property; -analyse the occupation, use of and investment in real estate assets using economic models; -a practical understanding of different concepts of market efficiency and the ability to evaluate critically their applicability in real estate markets; -the application of economic theory to evaluate current economic conditions and the ability to assess the principal implications for property and land markets.

Additional outcomes:
The module will assist students in developing a critical awareness of economic conditions and their significance on business decisions and outcomes. The module will enhance students' quantitative, analytic, presentation and reporting writing skills and contribute to the qualities and transferable skills necessary for employment.

Outline content:
-The Real Estate Market Environment -The Economics of Real Property Markets -The economic analysis of office, retail, industrial and residential property

Brief description of teaching and learning methods:
The course will be delivered as a block release with on-line post course support. The block release teaching will comprise lectures and class seminars, which utilize a presenter/discussant format to examine real world problems. In addition to seminar participation students are required to undertake a major individual written project assignment, which acts as a consolidating and integrating vehicle for the taught material

Contact hours:
  Autumn Spring Summer
Lectures 14
Seminars 10
Tutorials 6
Guided independent study 170
Total hours by term 200.00
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Report 85
Oral assessment and presentation 15

Other information on summative assessment:
After the end of the formal teaching block there will be a major applied research report based on a project brief supplied to students which will assess the ability of students to apply the techniques covered in the module to complex situations. Guide length 5,000 words

15% of the assessment will be on the basis of participation in the week’s discussions and presentations – 10% on the slide presentation and 5% on discussant role.

The remaining 85% will be on the basis of the applied research report based on a project brief developed by the student.

As this is a core Module of Special Significance, students joining the MSc Real Estate programme from September 2012 will have to achieve a mark of at least 40 in order to be awarded the MSc.

Formative assessment methods:

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information:

Length of examination:

Requirements for a pass:

Reassessment arrangements:
Real Estate Economics Project which will achieve a maximum mark of 50
Reassessment will be by the same method as for the module's original assessment requirements, subject to variation by the Examination Board where appropriate.

Additional Costs (specified where applicable):
1) Required text books:
2) Specialist equipment or materials:
3) Specialist clothing, footwear or headgear:
4) Printing and binding:
5) Computers and devices with a particular specification:
6) Travel, accommodation and subsistence:

Last updated: 21 December 2016

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