Course Title: Property Economics

Part A: Course Overview

Course Title: Property Economics

Credit Points: 12.00

Important Information:

Please note that this course may have compulsory in-person attendance requirements for some teaching activities.  

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption.  

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT:  

Please read the Student website for additional requirements of in-person attendance:  

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.  


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,
Sem 2 2017,
Sem 1 2018,
Sem 2 2018,
Sem 1 2019,
Sem 2 2019,
Sem 1 2020,
Sem 2 2020,
Sem 1 2021,
Sem 2 2021,
Sem 1 2022


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: 08.08.58

Course Coordinator Availability: Friday 10.30am - 12.30pm

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

Program Learning Outcomes (PLOs)

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

  • PLO1: Determine and apply knowledge of complex property and valuation theory to your professional practice and/or further study
  • PLO2: Professionally communicate to a range of audiences, demonstrating in depth knowledge of the discipline and of the needs of diverse property and valuation stakeholders
  • PLO3: 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

Course Learning Outcomes (CLOs)

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

  1. CLO1: Apply conventional economic methodologies and concepts to enhance decision-making in a property and/or construction context.
  2. CLO2: Critically evaluate the economic consequences of government policies for the built environment
  3. CLO3: Critically analyse and reflect on the social and economic consequences of market failure and how such failure may be corrected
  4. CLO4: Recognize and monitor demand and supply factors that influence economic conditions in the property and/ or construction sectors
  5. CLO5: 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.

Task 1: Individual Quiz: Short quiz undertaken in class to assess understanding of Demand and Supply, Elasticity and its application to property markets and the impact of Government policies. 15% weighting. CLO1, CLO2, CLO4

Task 2: Individual Quiz: Short quiz undertaken in class to assess understanding of Productivity and its role in national wealth generation, the impact of the monetary system on property markets and policy instruments such as fiscal and monetary policy. 15% weighting. CLO1, CLO3, CLO4, CLO5

Task 3: Online activity: Interactive online assessment module to assess understanding of Production and Cost theory, Profit maximisation under perfect competition and monopoly conditions and measuring national income. 20% weighting. CLO1, CLO2, CLO4, CLO5

Task 4: Exam: Summative assessment incorporating elements of problem solving, complex analysis, critical thinking, data interpretation and making recommendations. 50% weighting. CLO1, CLO2, CLO3, CLO4, CLO5

Feedback will be given on all assessment tasks.

Equitable Learning Services

Equitable Learning Services (ELS) provide support and equal opportunities for students with a disability, long-term illness and/or mental health condition and primary carers of individuals with a disability. You can contact the ELS if you would like to find out more: You can also contact the course coordinator or the program coordinator if you would like to find out more. 

An assessment charter ( summarises your responsibilities as an RMIT student as well as those of your teaching staff. 

Your course assessment conforms to RMIT assessment principles, regulations, policies and procedures which are described and referenced in a single document:;ID=ln1kd66y87rc.