ECON19036 - Property Economics

General Information

Unit Synopsis

The purpose of this unit will be to introduce students to a range of economic principles relating to real estate and property issues. The unit will be organised in three main sections. The first section will involve an analysis of why economic, social and environmental problems occur, the second reviews some assessment tools that are available, and the third will involve an overview of urban and regional economic issues, with particular focus on the economics of infrastructure planning.

Details

Level Undergraduate
Unit Level 2
Credit Points 6
Student Contribution Band SCA Band 4
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites

ECON11026

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 3 - 2024

Term 1 - 2025 Profile
Online

Attendance Requirements

All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Assessment Tasks

Assessment Task Weighting
1. Written Assessment 40%
2. Take Home Exam 60%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%).

Consult the University's Grades and Results Policy for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2024 : The overall satisfaction for students in the last offering of this course was 100.00% (`Agree` and `Strongly Agree` responses), based on a 25% response rate.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Source: SUTE
Feedback
Quality of learning materials
Recommendation
The learning materials could be updated and more closely aligned with current market trends and news.
Action Taken
In 2024 the current market and relevant media articles were integrated into the weekly class and final assessment.
Source: SUTE 2024
Feedback
'[UC] is the best lecturer I have had throughout my degree. Very easy to reach and helpful. The only updated unit content I would have liked is a more recent textbook, as it was published in 2004 (20 years ago) and referenced some studies done in the 1960-1970's - one example of this related to government rent controls which was on the exam and I don't think it is accurate to today's rental market/rental controls required. In a property economics degree, which is arguably a constantly evolving industry, it would be helpful to have a more recent textbook to refer to. '
Recommendation
Current market trends and media articles were integrated into the weekly classes and the assessments. The format and approach to these classes and assessments is to be retained. That said, the foundation textbook is dated and will be revised for the 2025 offering.
Action Taken
In Progress
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Identify how market mechanisms work to allocate resources, and how market demand and supply systems operate in real property markets
  2. Understand the development process, and how development proposals can be evaluated in economic terms
  3. Identify the economic arguments for planning controls and how these operate at different levels
  4. Develop an understanding of patterns of land use for different activities, including those in urban areas
  5. Identify how congestion and environmental problems are issues in urban planning and development, and how they may be addressed
  6. Identify the range of factors that drive housing markets
  7. Conceptualise different models of regional development and how these interact with markets for land resources
  8. Understand how governments impact on housing markets at both macro and micro policy levels
  9. Appreciate the potential for market-based instruments and other economic incentive mechanisms to be used in land resource markets

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5 6 7 8 9
1 - Written Assessment • • • • • • • • •
2 - Take Home Exam • • • • • • • • •
Alignment of Graduate Attributes to Learning Outcomes
• Introductory Level
• Intermediate Level
• Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4 5 6 7 8 9
1 - Communication • • • • • •
2 - Problem Solving • • • • • • • • •
3 - Critical Thinking • • • • • • • • •
4 - Information Literacy • • • • • • • • •
6 - Information Technology Competence • • • • • • • • •
Alignment of Assessment Tasks to Graduate Attributes
• Introductory Level
• Intermediate Level
• Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9 10
1 - Written Assessment • • • •
2 - Take Home Exam • •