Course Title: Property Economics

Part A: Course Overview

Course Title: Property Economics

Credit Points: 12

Course Code




Learning Mode

Teaching Period(s)


City Campus


325H Property, Construction & Project Management


Sem 1 2006,
Sem 2 2006,
Sem 2 2007,
Sem 2 2009,
Sem 2 2010,
Sem 2 2011,
Sem 2 2012,
Sem 1 2013,
Sem 2 2013,
Sem 1 2014,
Sem 2 2014,
Sem 1 2015,
Sem 2 2015,
Sem 1 2016,
Sem 2 2016,
Sem 1 2017


Singapore Inst of Management


325H Property, Construction & Project Management


Offsh 1 08,
Offsh 1 09,
Offsh 3 09,
Offsh 3 10,
Offsh 1 11,
Offsh 3 11,
Offsh1 12,
Offsh3 12,
Offsh1 13

Course Coordinator: Woon-Weng Wong

Course Coordinator Phone: +61 3 9925-1726

Course Coordinator Email:

Course Coordinator Location: 8.8.58

Course Coordinator Availability: To be advised

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

This course will introduce you to economics with a focus on the property and construction sectors.  You will learn about the local economic system, including the role of government and its influence on the health of the property market.  This will include through your study of supply and demand analysis.

The course will provide you with a balanced blend of micro and macro economic theory.

Objectives/Learning Outcomes/Capability Development

In this course you will develop the following program learning outcomes:

1 Determine and apply knowledge of complex property and valuation theory to your professional practice and/or further study
2 Professionally communicate to a range of audiences, demonstrating in depth knowledge of the discipline and of the needs of diverse property and valuation stakeholders
3 Apply logical, critical and creative thinking to analyse, synthesise and apply theoretical knowledge, and technical skills, to formulate evidenced based solutions to industry problems or issues

Upon successful completion of this course you will be able to:

  • Apply conventional economic methodologies and concepts to enhance decision-making in a property and/or construction context.
  • Critically evaluate the economic consequences of government policies for the built environment
  • Critically analyse and reflect on the social and economic consequences of market failure and how such failure may be corrected
  • Recognize and monitor demand and supply factors that influence economic conditions in the property and/ or construction sectors
  • Analyse and describe the linkage between the macro-economy and the health of the property and construction sectors.


Overview of Learning Activities

This course is delivered through  lectures and tutorials. You will engage in a range of learning activities which will include class discussions, problem based learning activities and quizzes. Your understanding of how economics relates to the property and construction sectors of the economy will be highlighted in lectures and further developed in tutorials.


Overview of Learning Resources

RMIT will provide you with resources and tools for learning in this course through our online systems. Lecture slides, media, and links to resources via global emails and tutorial exercises and selected solutions will be provided. Your learning in this course will also be supported by your reading of relevant newspaper articles, and by viewing you-tubes and listening to radio programmes. The learning resources for this course include a prescribed text.


Overview of Assessment

You will be assessed on how well you meet the course’s learning outcomes and on your development against the program learning outcomes
The assessment may include, but is not limited to, regular on-line quizzes and tests as well as a final exam.
Feedback will be given on all assessment tasks.

If you have a long term medical condition and/or disability it may be possible to negotiate to vary aspects of the learning or assessment methods. You can contact the program coordinator or the Disability Liaison Unit if you would like to find out more. An assessment charter
( ) summarises your responsibilities as an RMIT student as well as those of your teachers. Your course assessment conforms to RMIT assessment principles, regulations, policies and procedures which are described and referenced in a single document:;ID=ln1kd66y87rc