REMFIFM-Investment and Financial Modelling

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

Module Convenor: Dr Ranoua Bouchouicha


Summary module description:

This unit aims to enable students to develop their understanding of the theory of investment strategy, portfolio selection and performance measurement. In addition, it will develop students’ analytic capacity. Upon completion of the module, students should have an understanding of key theoretical concepts relating to pricing, market dynamics and investment strategy. They should be able to appraise critically published work in the field. Furthermore, students will develop skills enabling them to substantially enhance their understanding and application of quantitative and modelling methods with application to Real Estate and other asset classes.

Assessable learning outcomes:
- identify and explain key theoretical concepts from finance and economics relating to investment strategy, portfolio selection and performance measurement and be able to apply such concepts to real estate markets;
- discuss, and appraise critically, relevant literature applying investment strategy, portfolio selection, pricing and performance measurement models to real estate markets in the UK and globally;
- apply theoretical investment strategy and portfolio management principles to practical real estate problems;
- analyse capital market data using a variety of quantitative techniques - describe and summarize data and variable relationships using basic statistics;
- apply appropriate quantitative methods to perform computer-assisted analysis;
- interpret and evaluate published results of empirical research in the field;
- utilize spreadsheets and regression-oriented software packages to perform analysis.

Additional outcomes:
• enhance their oral and communication skills through discussions in computer-based seminar sessions;
• develop their business report writing skills;
• develop their econometric skills through the computer-based workshops;
• enhance their capacity to read complex published material in a critical fashion.

Outline content:
- Property Portfolio Strategies: Sector vs Regional vs Economic Diversification
- Property Indices and Real Estate Data Challenges-
- Property Portfolio Strategies: Real Estate in a Mixed-Asset Portfolio
- Portfolio Performance Measurement
- Asset allocation – Portfolio estimation
- Real estate cycles
- Modelling Real Estate Markets: Theoretical and Econometric Aspects
- Modelling Real Estate Markets: Forecasting
- Modelling volatility: GARCH models

Brief description of teaching and learning methods:
The unit is split between lectures and applied computer workshops. Additionally, students will be expected, on an independent basis, to read prescribed articles for an assignment which will be handed-out within the first two weeks.

Contact hours:
  Autumn Spring Summer
Lectures 30
Tutorials 10
Guided independent study 160
Total hours by term 200.00
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 60
Written assignment including essay 40

Other information on summative assessment:
The module will include 1 assignment. It will cover key aspects of the material.

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:
One three hour unseen examination.

Requirements for a pass:

Reassessment arrangements:
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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