PROPERTY 763 : Urban Economic Analysis

Business and Economics

2021 Semester Two (1215) (15 POINTS)

Course Prescription

Analysis of macro-economic and institutional factors that affect urban property markets. Covers dynamic processes in the build environment from a variety of theoretical perspectives and examines the nature of local government and planning processes as they affect property development.

Course Overview

This course requires students to critically engage with urban economic theory and contemporary urban issues. Topics cover reasons for the existence of cities, the monocentric model of urban land use, agglomeration economies, various topics in housing studies, and urban environmental economics. The goal of this course is to enable students to be familiar with and utilise economic tools to examine subnational economies where the location is a critical element of what constitutes an “urban property market”. Students will be able to undertake theoretically informed independent research on urban economics as well as engage, communicate and collaborate professionally and effectively with diverse groups using multiple formats.

Course Requirements

Prerequisite: PROPERTY 261 and 351 and, 362 or 363

Capabilities Developed in this Course

Capability 1: Disciplinary Knowledge and Practice
Capability 2: Critical Thinking
Capability 3: Solution Seeking
Capability 4: Communication and Engagement
Capability 5: Independence and Integrity
Capability 6: Social and Environmental Responsibilities

Learning Outcomes

By the end of this course, students will be able to:
  1. Critically analyse a variety of urban theories that are relevant to urban property issues (Capability 1 and 2)
  2. Apply urban economic theory to describe, explain, and predict patterns of property prices, property construction, and property consumption (Capability 1 and 3)
  3. Demonstrate an advanced understanding of urban property (Capability 1 and 2)
  4. Evaluate the role of government and housing policies in urban property markets (Capability 1 and 2)
  5. Evaluate the importance of the social and environmental dimensions of sustainability in cities (Capability 1 and 6)
  6. Undertake theoretically informed independent research that involves the collection and analysis of appropriate secondary data (Capability 4.2, 5.1 and 5.2)

Assessments

Assessment Type Percentage Classification
Presentation 15% Individual Coursework
Coursework 35% Individual Coursework
Final Exam 50% Individual Examination
Assessment Type Learning Outcome Addressed
1 2 3 4 5 6
Presentation
Coursework
Final Exam

In order to pass this course, you MUST obtain at least 50% of the total marks awarded for the course. In addition, a minimum mark of 45% in the final examination is also expected.

Workload Expectations

This course is a standard 15 point course and students are expected to spend 10 hours per week involved in each 15 point course that they are enrolled in.

For this course, you can expect 3 hours of lectures, 6 hours of reading and thinking about the content and 3 hours of work on assignments and/or test preparation.

Delivery Mode

Campus Experience

Attendance is expected at scheduled activities including tutorials/In-class quizzes to complete/receive credit for components of the course. Lectures will be available as recordings. Other learning activities including guest lecturers/seminars may not be available as recordings, subject to the preference of the guest speakers. The course will not include live online events including group discussions/tutorials. Attendance on campus is required for the test and exam. The activities for the course are scheduled as a standard weekly timetable.

Learning Resources

There is no one textbook that covers the content of this course*. Handouts will be distributed in class. Recommended readings for alternate study, many of which are cited in the lecture material and made available on Canvas, are:
1. Brueckner, J. K. (2011). Lectures on urban economics. MIT Press.
2. DiPasquale, D., & Wheaton, W. C. (1992). The markets for real estate assets and space: a conceptual framework. Real Estate Economics, 20(2), 181-198.
3. DiPasquale, D., & Wheaton, W. C. (1996). Urban economics and real estate markets (Vol. 23, No. 7). Englewood Cliffs, NJ: Prentice Hall.
4. Fanning, S. F. (2005). Market analysis for real estate: concepts and applications in valuation and highest and best use. Appraisal Inst.
5. O'sullivan, A. (2007). Urban economics. McGraw-Hill/Irwin.
6. Rogers, S., & Cook, M. (2017). United Housing - Otis Gates. HBS No. 9-317-059. Boston, MA: Harvard Business School Publishing.
7. Temkin, K. M., Theodos, B., & Price, D. (2013). Sharing Equity with Future Generations: an evaluation of long-term affordable homeownership programs in the USA. Housing Studies, 28(4), 553-578.
8. Wooldridge, J. M. (2015). Introductory econometrics: A modern approach. Nelson Education.
9. Noble, N. R. (2011). EViews User’s Guide. Quantitative Micro Software, Irvine CA.
Note (*): Additional references listed in each lecture; details set out in this handout are subject to change. Any changes will be notified in lectures and on Canvas.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.

Digital Resources

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.

Inclusive Learning

All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course coordinator, lecturer or tutor.

Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website http://disability.auckland.ac.nz

Special Circumstances

If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a member of teaching staff as soon as possible before the assessment is due.

If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.

This should be done as soon as possible and no later than seven days after the affected test or exam date.

Learning Continuity

In the event of an unexpected disruption we undertake to maintain the continuity and standard of teaching and learning in all your courses throughout the year. If there are unexpected disruptions the University has contingency plans to ensure that access to your course continues and your assessment is fair, and not compromised. Some adjustments may need to be made in emergencies. You will be kept fully informed by your course co-ordinator, and if disruption occurs you should refer to the University Website for information about how to proceed.

Student Charter and Responsibilities

The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html.

Disclaimer

Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.

In this course you may be asked to submit your coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. The final decision on the completion mode for a test or examination, and remote invigilation arrangements where applicable, will be advised to students at least 10 days prior to the scheduled date of the assessment, or in the case of an examination when the examination timetable is published.

Published on 01/12/2020 01:10 a.m.