REMFRE-Real Estate Economics

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2019/0

Module Convenor: Mr Eamonn D'Arcy

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

Type of module:

Summary module description:

This module covers the economic principles underlying land and property markets, as well as the economics of land markets. 


Aims:

The module aims to build a solid foundation in the economics of land 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 land and 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; 




  • demonstrate 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 evaluate critically their applicability in real estate markets; 




  • apply economic theory to evaluate current economic conditions and 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, analytical, presentation and report writing skills and contribute to the qualities and transferable skills necessary for employment. 


Outline content:



  • the economics of land: Land use, land markets, location, urban and rural development, market failure, land use regulation and other policy responses. 







  • the economics of real property markets: property and the economy, use, investment and development, the economic analysis of commercial 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 20
Seminars 10
Guided independent study:      
    Wider reading (independent) 25 25
    Wider reading (directed) 20
    Preparation for presentations 10
    Preparation of practical report 30
    Revision and preparation 30 30
       
Total hours by term 115 55 30
       
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written exam 50
Written assignment including essay 40
Oral assessment and presentation 10

Summative assessment- Examinations:

Two hour written examination (50%)


Summative assessment- Coursework and in-class tests:

The module will include one written assignment. 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 findings and to formally discuss those presented by students in another group on another topic in timetable weeks 14 and 15 (weeks 10 and 11 Autumn Term). Guide length of major assignment: 2,500 words (or equivalent); submission date in timetable week 20 (week 1 Spring Term). 


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

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: 30 April 2019

THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.

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