Course Title: Property Economics
Part A: Course Overview
Course Title: Property Economics
Credit Points: 12.00
Terms
Course Code |
Campus |
Career |
School |
Learning Mode |
Teaching Period(s) |
BUIL1149 |
City Campus |
Undergraduate |
325H Property, Construction & Project Management |
Face-to-Face |
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, Sem 2 2022, Sem 1 2023, Sem 2 2023, Sem 1 2024, Sem 2 2024 |
BUIL1150 |
Singapore Inst of Management |
Undergraduate |
325H Property, Construction & Project Management |
Face-to-Face |
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: woon-weng.wong@rmit.edu.au
Course Coordinator Location: 08.08.58
Course Coordinator Availability: Friday 10.30am - 12.30pm
Pre-requisite Courses and Assumed Knowledge and Capabilities
None
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:
BH113 Bachelor of Applied Science (Property and Valuation)
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
BH112 Bachelor of Applied Science (Project Management) (Honours)
PLO1: Determine and apply knowledge of complex project management theory to your professional practice and/or further study
PLO5: Collaborate effectively with others and demonstrate intellectual independence and autonomy to solve problems and/or address industry issues or imperatives
BH114 Bachelor of Applied Science (Construction Management) (Honours)
PLO1: Determine and apply knowledge of complex construction management 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 construction management 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:
- CLO1: Apply conventional economic methodologies and concepts to enhance decision-making in a property and/or construction context.
- CLO2: Critically evaluate the economic consequences of government policies for the built environment
- CLO3: Critically analyse and reflect on the social and economic consequences of market failure and how such failure may be corrected
- CLO4: Recognize and monitor demand and supply factors that influence economic conditions in the property and/ or construction sectors
- 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
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 Equitable Learning Services if you would like to find out more.
Your course assessment conforms to RMIT assessment principles, regulations, policies, procedures and instructions.