REMB27-Real Estate Economics

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Dr Carlo Corradini
Email: c.corradini@henley.reading.ac.uk

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.

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. 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 be able to evaluate critically their applicability in real estate markets; 


• 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:

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  The Real Estate Market Environment 

  
  

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  The Economics of Real Property Markets 

  
  


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  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 is delivered in a block release format that involves a four day face to face teaching block with pre-course preparation plus online post-teaching support. The module is taught in an interactive format through seminars and workshops. An assessed individual project is the consolidating and integrating vehicle for the taught material. Students are encouraged to share information via Blackboard in the extended online support period which follows the face to face ele ment. An online discussion of the case studies between tutors and students supports the assessment in this module. 

Summative assessment- Examinations:
None

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 

Formative assessment methods:

Penalties for late submission:

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:?https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/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%. 

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. 

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: 2 May 2023