REMB27-Real Estate Economics

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:
Current from: 2021/2

Module Convenor: Prof Gianluca Marcato

Type of module:

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.


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. Upon completion of this module, students should be able to: 

  • evaluate critically the main economic concepts and models relating to the economics of property and land; 

  • demonstrate a systematic understanding of the influence of economic conditions and public policy on the property sector; 

  • de monstrate 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; 

  • demonstrate a practical understanding of different concepts of market efficiency and be able to evaluate critically their applicability in real estate markets; < /li>
  • apply economic theory to evaluate current economic conditions and be able 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 report 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

Global context:

Discussion on international housing markets where feasible. 

Brief description of teaching and learning methods:

The module will be delivered as a block release with on-line post module support. The block release teaching 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 

The module will comprise of lectures . In addition, students are required to undertake a major individual written project. 

Contact hours:
  Autumn Spring Summer
Lectures 20
Guided independent study:      
    Wider reading (independent) 120
    Essay preparation 60
Total hours by term 200 0 0
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written assignment including essay 100

Summative assessment- Examinations:

Summative assessment- Coursework and in-class tests:

The module assessment will comprise one essay-based assignment. This will be a 5,000 word critical examination of a real estate economics applied market topic with literature review, theoretical hypothesis and empirical analysis. 

Assignment Submission Deadline: Week 42 

As this is a core Module of Special Significance, students completing the MSc in Real Estate must 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:

Assessment 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):

Last updated: 21 March 2022


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