Real Estate Economics

PLAN61061 Real Estate Economics 15 Semester 1 Postgraduate Taught Level 7 Sahil Gandhi Unit coordinator Planning, Property and Environmental Management 1 FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 ' European Credit Transfer & Accumulation System Rating : 7.5 This unit will introduce students to the fundamentals of real estate economics and also act as an introduction to academic study in this subject area. The unit will cover fundamental economic principles underlying city regions, urban and land use planning, and commercial and residential real estate markets. Students will also apply  these principles to understand several current and policy relevant debates around real estate, nationally and internationally. In this course unit, students will consider real estate markets within macroeconomic contexts. Students will explore a number of different geographic and sector markets, critically considering the institutional framework around these: political and legal background; social and cultural aspects; technological and environmental factors. Students will study the structure of real estate ownership and how economic and monetary policies shape property cycles and the phenomenon of housing price bubbles.   This unit will introduce students to the fundamentals of real estate economics and also act as an introduction to academic study in this subject area. The unit will cover fundamental economic principles underlying citiy regions, urban and land use planning, and commercial and residential real estate markets. Students will also apply<span style="font-family:"Arial",sans-serif;font-size:10.0pt;letter-spacing:-.1pt;mso-ansi-language:EN-GB;mso-bidi-language:AR-SA;mso-fareast-font-family:"Times New Roman";mso-fareast-language:EN-US;mso-spacerun:yes;">  these principles to understand several current and policy relevant debates around real estate, nationally and internationally. Students will study the structure of real estate ownership and how economic and monetary policies shape property cycles and the phenomenon of housing price bubbles To provide students with a sound knowledge of real estate economics and its applicationsTo encourage critical debate and reflection on policies and their implications for the functioning of real estate markets both locally and internationallyTo foster a spirit of enquiry   Anticipate changes in factors affecting real estate markets and apply foundational economic principles to assess the implications of these changes. Evaluate the impact of political, legal, social, and technological factors on real estate market structures and operations.Evaluate current land, housing and real estate policies and compare its impact on real estate market’s functioning through economic reasoning.<o:p></o:p>   Analyse and evaluate debates and research evidence related to real estate economics at both national and international levels.Devise economic frameworks for evaluating  policy impact on real estate markets   Factor in the effects of various policies to assess future risks and returns while selecting and making real estate development and investment decisions. Formulate evidence based solutions to policy problems affecting real estate markets  Accurately interpret and synthesise complex quantitative models and results     Effectively communicate ideas and arguments in writing to both specialist and non-specialist audience.Identify sampling and selection issues within data sets and quantitative methods currently used in real estate research.  A range of teaching and learning methods will be adopted with conventional lectures used to introduce topics in a structured manner. All course material and recordings of lectures will be available online. Students are expected to read suggested papers and reports and take a lead in discussions in the class. Formative feedback will be given through Q&A, discussion and interactive activities within lectures and FAQ section on VLE. Substantive written or audio feedback on assignments will be provided through VLE.   5 Portfolio 100% Individual Portfolio 3000 words 100% Verbal feedback is available on coursework discussed through consultation hours. Substantive written or audio feedback on your assignments will be provided through VLE    NOTE THIS UNIT IS NOT AVAILABLE TO STUDENTS WHO ARE NOT ENROLLED ON MSc REAL ESTATE (ASSET MANAGEMENT OR DEVELOPMENT) MSc Real Estate MSc Real Estate Development PGDT Taught Component Mandatory MSc Real Estate MSc Real Estate Asset Managet PGDT Taught Component Mandatory MSc Real Estate PT MSc Real Estate Development PT PGDT Taught Component Mandatory MSc Real Estate PT MSc Real Estate Asset ManagePT PGDT Taught Component Mandatory N Economics:  Brueckner, J (2011) Lectures in Urban Economics, MIT Press.  O'Sullivan, A., (2012) Urban Economics 8th Ed.  Lall, S. V., Freire, M., Yuen, B., Rajack, R., & Helluin, J. (2009). Urban land market. World Bank: Washington, DC, USA, Springer. Tiwari, P. and White, M. (2010) International real estate economics. Basingstoke: Palgrave Macmillan Finance:Buckle, M. and Thompson, J. (2016) The UK financial system: theory and practice. 5th edn. Manchester: Manchester University Press  Geltner, D. M., Miller, N. G., Clayton, J., & Eichholtz, P. (2007). Commercial real estate: analysis & investments. Cengage learning. Real Estate Markets:Barkham, R. (2012) Real estate and globalization Oxford: Wiley-BlackwellBarras, R. (2009) Building cycles: growth and instability. Oxford: Wiley-Blackwell  Baum, A. (2015) Real estate investment: a strategic approach 3rd ed. Abingdon: RoutledgeLizieri, C. (2009) Towers of capital. Oxford: Wiley-Blackwell  Marriott, O. (1969) The property boom. London: Pan Books  Scott, P. (1996) The property masters: a history of the British commercial property sector Abingdon: Taylor Francis   Lectures 22 Tutorials 2 0 126 This unit includes a short residential fieldtrip to London, linked to the assessment, normally held in October.