The course allows to combine academic and professional interests in ways that open up potential career paths and extend their personal development. Although most graduates go on to work in the property industry, the course also provides a solid foundation for those intending to take up roles in general management in other industries The curriculum for the course has the main themes: Management, Economics & Valuation, Law, and Planning and Development. Each theme comprises a group of related modules whose interrelationships and complexity are developed as the course progresses. Additionally, the themes are prevented from becoming in any way separate entities by the incorporation of integrative project modules in each year of the course, whose purpose is to equip students with the understanding and skills to integrate the processes of estate management within a commercial and professional context.
Real Estate Capital Markets
Real Estate Capital Markets studies debt and equity secondary markets linked to real estate assets. These markets have become a key way to funding residential and commercial real estate. The recent financial crisis saw a sharp contraction of new issuance in some of these markets, although others, such as the agency MBS market, became even larger and more central to mortgage finance.
Techniques in Real Estate Valuation
This is an introductory course covering the purpose of appraisals, the appraisal process and the different approaches, methods and techniques used to determine the value of various types of property. Emphasis will be on employing the process in residential brokerage as opposed to how to perform the process. This course is not designed to provide the student with all the skills and knowledge necessary to embark on an appraisal career, but the student should have an understanding of the concepts and practices in the real estate appraisal field. The student will have a working knowledge of some of the techniques used by appraisers.
Real Estate Finance and Investment
Real estate accounts for one third of the capital assets around the world. You simply cannot ignore it in as an investor or in any business, whether the business is called real estate or not! This course provides students with a comprehensive understanding of real estate valuation, cycles, markets, investments, and decision-making, using modern finance and economics tools. The bulk of the course covers income-producing (commercial) property, although we will discuss residential housing as well. This course is not a hodgepodge of vaguely connected methodologies and rules of thumb about real estate. Rather, it uses a unified finance-based framework to answer real estate investment decision-making problems encountered in the real world. Doing so requires a good understanding of the institutional features that differentiate real estate from other asset classes and markets as well as modern finance and economics tools.
This course includes a study of strategic planning including mission statement development, analysis of the external environment and internal organizational factors, development of strategic alternatives, ion of appropriate alternatives, implementation of strategies, and competitive strategies and dynamics. Special emphases are given to the integration and coordination of the functional areas within the enterprise. The case method will be used to provide practical experience in analysis and decision-making in the solution of business problems.
Contemporary Topics: International Real Estate
This course will expose students to the importance of both strategy and execution in the world of cross-border real estate investments. Topics will include the rationale for international investing (opportunities and risks) top-down macro factors influencing real estate markets micro-market factors influencing real estate investment performance and the role of transparency, taxes and legal rights in different countries. Students will analyze international private equity funds and internationally listed real estate companies and they will examine case studies of cross-border investment decisions.
Research Methodology & Business Reporting
The first part of this course provides a comprehensive theoretical and practical framework for business research. It introduces the processes for developing research and considering different research designs and approaches together with statistical methods for data analysis and interpretation. The second part of the course teaches students how to report and present research findings using computer technologies and other presentation aids.
This course is designed to enable students to identify central issues and problems in business organizations to suggest alternative approaches and then present well-supported recommendations for future actions. The course will accomplish these objectives by explaining concepts and theories useful in understanding the strategic management process. The course will cover topics such as characteristics of strategic decisions, strategic decision makers, social responsibility and ethics in strategic management, situation analysis and corporate strategy, business and functional strategies in addition to strategy implementation and control. A case-study oriented approach will be heavily used in this course.