Course Title: Urban Land Economics

Part A: Course Overview

Course Title: Urban Land 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 2012,
Sem 1 2013,
Sem 1 2014,
Sem 1 2015,
Sem 1 2016,
Sem 1 2017,
Sem 1 2018,
Sem 1 2019,
Sem 1 2020,
Sem 1 2021,
Sem 1 2022

Course Coordinator: Hyemi Hwang

Course Coordinator Phone: +61 3 9925 0412

Course Coordinator Email:

Course Coordinator Location: 8.8.12

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

In this course you will develop your knowledge of the property market structures and land economics in relation to the Global and Australian economy. The objectives of this course are to provide you with the skills and knowledge necessary to accurately apply the functional and financial role of property in the economic system.

Objectives/Learning Outcomes/Capability Development

Program Learning Outcomes (PLOs)

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
5 Collaborate effectively with others and demonstrate intellectual independence and autonomy to solve problems and/or address industry issues and imperatives
6 Critically examine and reflect on the profession, in local and/or global contexts, and question accepted interpretations and decision making

Course Learning Outcomes (CLOs)

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

  1. Apply key urban economic theories and demonstrate how they have an impact on land use and land rent in a local and global context.
  2. Analyse how property market cycles impact on supply and demand in the determination of rents and prices
  3. Interpret how the environment, social impacts, transportation, and urban congestion impact on the urban growth, decay and regeneration of cities.
  4. Logically communicate the consequences for real estate markets of changes in transport technology, population growth rates and demographics.

Overview of Learning Activities

Learning in this course consists of lectures and tutorials. Learning activities includes case study exercises, group work and class discussions.

Overview of Learning Resources

RMIT will provide you with resources and tools for learning in this course through our online systems
A textbook may be required for this course along with relevant local readings.

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. Assessment consists of: 

Task 1: Individual critical reviews: 6 marks each x 5 weeks (30% of the total mark). Critical reflection on the prescribed readings on property markets and development of property markets. CLOs 1 and 3.

Task 2: Individual midterm exam in week 6 (25% of the total mark). Test on theoretical understanding of property markets and urban developments.  CLOs 1 and 2.

Task 3: Group assignment: A group presentation on Youtube (20% of the total mark). Understanding the Melbourne Metropolitan Planning Strategy and proposing area and property type(s) and relevant factors. CLOs 1, 2, 3 and 4.

Task 4: Group assignment: A group written report on assessing Melbourne Metropolitan planning strategy (25% of the total mark). Assessing the Melbourne Metropolitan Planning Strategy and investigating a potential impact of the state planning strategy on property markets in Victoria. CLOs 1, 2, 3, and 4.

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.