REMFRE-Real Estate Economics

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

Module Convenor: Mr Eamonn D'Arcy

Email: p.e.darcy@henley.reading.ac.uk

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.

Aims:
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; -a conceptual understanding of the economic implications of land use regulation for property 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: (i) macro analysis – property and the economy (ii) micro analysis - Land use, land markets, location, urban development (iii) policy analysis - market failure, land use regulation, economics of town planning, urban and regional policies, urban regeneration.
•the economics of real property markets: use, investment and development, the economic analysis of office, retail, industrial and residential property.


Brief description of teaching and learning methods:
The module will comprise lectures and class seminars, which utilise 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 16 16
Tutorials 4 4 4
Guided independent study 78 78
       
Total hours by term 98.00 98.00 4.00
       
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 60
Written assignment including essay 30
Oral assessment and presentation 10

Other information on summative assessment:
The module will include 1 assignment. The assignment will either be in the autumn term or the spring term depending upon random allocation. It will consist of an applied research report based on a project brief supplied to students. In addition students are required to formally present their principal finding and to formally discuss those presented by students on another topic. Guide length, Major Assignment 3,500 words (or equivalent).

All word counts are for guidance only. Unless the specific requirement of an individual assignment states that the word limit is strict, then there is some discretion with the guide length.

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: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx
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: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Length of examination:
Two hours

Requirements for a pass:
The pass-mark for this module is 50%.

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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