REMB27: Real Estate Economics

Module code: REMB27

Module provider: Real Estate and Planning; Henley Business School

Credits: 20

Level: 7

When you'll be taught: Semester 2

Module convenor: Dr Carlo Corradini, email: c.corradini@henley.reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 19 November 2024

Overview

Module aims and purpose

This module covers the economic principles underlying urban economics, planning economics, commercial market and residential market. 

The module aims to build a solid foundation in the economics of property market to provide an insight into the application of economic principles and models to land use, city growth, planning and property market. 

Module learning outcomes

By the end of the module, it is expected that students will be able to: 

• critically evaluate the main economic concepts and models relating to the economics of property and land; 
• demonstratea systematic understanding of the influence of economic conditions and public policy on the property sector; 
• demonstratea comprehensive understanding of the principal determinants of the demand for, the supply of, and the location of commercial, industrial and residential property; 
• apply economic theory to evaluate current economic conditions and assess the principal implications for property and land markets. 

Module content

• Agglomeration and Urban structure 
• Microeconomics of land use 
• Urban growth in the global economy 
• Contemporary issues in urban development and regional imbalances 
• User Market, Investment and Development Market in Real Property 
• Economic analysis of commercial and residential markets 
• Housing economics 
• Real estate cycles 

Structure

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. 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. 

Study hours

At least 24 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.
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.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• 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 three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/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.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs