Units
Property Economics
Unit code: UDB243
Contact hours: 4 per week
Credit points: 12
Information about fees and unit costs
The unit will relate macro and micro economics to the broad property markets. It will consider the practical impact of supply and demand factors on the different market sectors. The nature and complexities of property cycles are covered with specific reference to commercial and industrial property in Australia.
Availability
| Semester | Available |
|---|---|
| 2013 Semester 1 | Yes |
Offered in these courses
- UD40
Sample subject outline - Semester 1 2013
Note: Subject outlines often change before the semester begins. Below is a sample outline.
Rationale
This unit builds upon economic theories covered in the first year of the course, further developing the economic framework surrounding commercial awareness of urban and regional development. You will scope a wider application, and gain further appreciation of the economic essentials and the politics of property economics, with a particular focus on their implications for the property professional.
Aims
The unit will relate macro and micro economics to the broad property markets. It will consider the practical impact of supply and demand factors on the different market sectors. The nature and complexities of property cycles are covered with specific reference to commercial and industrial property in Australia. As a consequence, the unit provides students with practical knowledge on the impact of macro and micro economics, giving a deeper understanding of some of the fundamental national and international economic issues facing Australia in relation to the property cycles, supply and demand factors on the property market.
Objectives
Upon completion you will
1. Become familiar with how economic theory operates within a property industry context
2. Be able to effectively communicate, both orally and in written form and in a variety of contexts and modes, applied property economic theory
3. Develop techniques in data collection and analysis, including an ability to search and critically evaluate information from a variety of sources
4. Develop the ability to work independently and collaboratively, including managing time and prioritising activities, and being a cooperative and productive team member or leader
Content
The content of this unit will include aspects of:
· fundamental concepts in microeconomics and macroeconomics, such as market and price mechanisms
· Demand and supply
· Monetary and fiscal policy
· Property cycles
· Implications of economics theory on property industry
Approaches to Teaching and Learning
Teaching Mode:3 hours per week:
Lecture: 2
Tutorial: 1
Learning Approaches:
Learning approaches will cover the following:
· Lectures to introduce concepts and principles;
· Tutorials to cover the work done in the lecture held in the previous week. Learning approaches used in the tutorials will include problem based learning, individual learning, team based learning and reflection.
Assessment
The assessment for this unit follows the assessment policy stated in section 5.1.1
Assessment in this unit is a combination of team and individual assignments, individual classroom participation, and a final exam.The unit coordinator will be available in person at specified times or via email to answer questions from students. Tutorials will be structured to include ongoing feedback to students throughout the semester (this includes the ability to discuss feedback on the assignment with your tutor).
Assessment name:
Presentation (Oral or Group)
Description:
Team Based Group Presentation and Peer Assessment report
Property economics theory to be researched and analysed in the context of the property market. Formal submission of a powerpoint presentation with key findings, observations, references and opinions presented orally by the team.
Peer assessment report and Assessment of individual and group performance, team dynamics, project management capability and project outcomes. Reflection and assessment by the individual on team members performance, participation and learnings during the preparation and delivery of the Team Presentation.
Relates to objectives:
Relates to learning outcomes:
1. Become familiar with how economics theory operates within a property industry context
2. How to effectively communicate, both orally and in written form and in a variety of contexts and modes, applied property economic theory
3. Develop techniques in data collection and analysis, including an ability to search and critically evaluate information from a variety of sources
4. Develop the ability to work independently and collaboratively, including managing time and prioritising activities, and being a cooperative and productive team member or leader
Weight:
40%
Internal or external:
Internal
Group or individual:
Group
Due date:
Weeks 6 and 7
Assessment name:
Examination (written)
Description:
Closed book examination
Relates to objectives:
1.Become familiar with how economics theory operates within a property industry context
2.How to effectively communicate in written form applied property economic theory
Weight:
60%
Internal or external:
Internal
Group or individual:
Individual
Due date:
End of semester
Academic Honesty
QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.
A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.
Resource materials
Recommended texts will be available on the week one information and also through the on-line learning and teaching site for this unit. Some economics text book/ materials (will be up dated by the lecturer on the on line teaching site for this unit) are listed as follows:
· Layton, A., Robinson, T., Tucker, I. (2009) Economics for Today 3rd Asia Pacific Edition Thomson, South Melbourne Victoria.
· QUT cite|write - a set of resources to assist the development of citing, referencing and academic writing skills. The resource consists of two booklets and a number of print-on-demand style guides and writing guides, located on website
· Guides to assignment writing - Learn how to write in specific formats such as a literature review, annotated bibliography or thesis. Refer website located at
Risk assessment statement
There are no out-of-the ordinary risks associated with lectures or tutorials in this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes.
Additional Costs
There are no additional costs associated with this unit.
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.
Last modified: 19-Oct-2012
