REMREE-Real Estate Economics

Module Provider: Real Estate and Planning
Number of credits: 10 [5 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2022/3

Module Convenor: Dr Yi Wu
Email: y.wu9@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 land;


• demonstrate a systematic understanding of the influence of economic conditions and public policy on land markets;


• demonstrate a practic al understanding of the microeconomics of land use and location theory.

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, and report writing skills and contribute to the qualities and transferable skills necessary for employment.

Outline content:

The lectures develop the fundamental principles of micro-economics and how to apply micro-economic principles to examine real estate market behaviour, urban land patterns, the shape of cities, and the distribution of population, through the following topics:

• Markets and Micro-economics


• Real Estate markets and the theory of rent


• Agglomeration and Urban structure


• Interventions in Real Estate Markets


• Rural Economy

Brief description of teaching and learning methods:

The module will be primarily lecture based with directed supplementary questions and reading. The directed reading will consist both of academic material on the theoretical concepts/models relating to the lectures and material relating to contemporary market, economic and political conditions. Students are expected to participate in in-class discussion. Furthermore, students are required to undertake a major application project, which acts as a consolidating and integrating vehicle for t he taught material.

Contact hours:

	Autumn	Spring	Summer
Lectures	10
Seminars	2
Guided independent study:
Wider reading (independent)	25
Wider reading (directed)	20
Preparation of practical report	32
Reflection	11
Total hours by term	100	0	0
Total hours for module	100

Summative Assessment Methods:

Method	Percentage
Written assignment including essay	100

Summative assessment- Examinations:

Not Applicable

Summative assessment- Coursework and in-class tests:

The module assessment will consist of an applied research report based on a project brief supplied to students. Guide length of major assignment: 2,500 words (or equivalent); submission date in week 1 of the Spring Term.

Formative assessment methods:

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy £Penalties for late submission for Postgraduate Flexible programmes£, which can be found here: http://www.reading.ac.uk/web/files/qualitysupport/penaltiesforlatesubmissionPGflexible.pdf
The Support Centres will apply the following penalties for work submitted late:

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
• where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

The University policy statement on penalties for late submission can be found at: http://www.reading.ac.uk/web/FILES/qualitysupport/penaltiesforlatesubmission.pdf
You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Assessment requirements for a pass:

The pass-mark for this module is 50%.

Reassessment arrangements:

Reassessment will be by an applied research report based on a reassessment project brief counting for 100% of the module assessment. This is subject to variation by the Examination Board where appropriate

Additional Costs (specified where applicable):

Last updated: 29 March 2022