Faculty of Arts, Business and Law School of Business Teaching Session: Semester 2 Year: 2017 Course Coordinator: Dr Steven Boyd Office: K1.07A Telephone: +61 7 5456 5129 Email: sboyd@usc.edu.au Consultation Times: By appointment Course outline Code: PED120 Title: Property Economics 1. What is this course about? 1.1 Course description Assessing opportunities offered by real property requires an appreciation of the relationship between the property sector and underlying economic drivers. This course introduces property economics as a primarily consideration of decision making when buying, developing and managing property. On this basis the subject includes relevant economic theory and its application to urbanisation, infrastructure, location theory and other economic sectors closely related to property 1.2 Course content introduction: summary of economic principles and concepts - microeconomics/ macroeconomics real property characteristics: the nature and characteristics of real property and its place in the economic mosaic microeconomic theory macroeconomic theory location theory and development patterns urbanisation and urban development infrastructure provision and cost related sectors (Finance, Construction and Development) industry forum and workshop new models for urban development externalities (Demographic Change, Sustainability) 2. Unit value 12 units
Page 2 3. How does this course contribute to my learning? Specific Learning Outcomes Assessment Tasks Graduate Qualities On successful completion of this course you should be able to: You will be assessed on the learning outcome in task/s: Completing these tasks successfully will contribute to you becoming: Describe and discuss contemporary micro and macro property economic theory and the applicability to urban development. Reflect on property development theory and practice and consider the role of ongoing personal and professional development. Identify social, environmental, economic and political issues of property as sustainable personal, financial and community assets. 1, 2 and 3 Knowledgeable. 2 and 3 Empowered. 1 and 2 Sustainability-focussed. 4. Am I eligible to enrol in this course? Refer to the Coursework Programs and Awards - Academic Policy for definitions of pre-requisites, corequisites and anti-requisites 4.1 Enrolment restrictions Nil 4.2 Pre-requisites BUS102 or enrolled in Program AR382, SC410 or AR404 4.3 Co-requisites Nil 4.4 Anti-requisites PAM210 4.5 Specific assumed prior knowledge and skills This course applies economic theory to a property sector environment and consequently either a sound prior knowledge of economics fundamentals gained through academic pursuits or experience or the ability to rapidly secure that knowledge to lecture materials is required. 5. How am I going to be assessed? 5.1 Grading scale Standard High Distinction (HD), Distinction (DN), Credit (CR), Pass (PS), Fail (FL)
Page 3 5.2 Assessment tasks Task No. Assessment Tasks Individual or Group Weighting % What is the duration / length? 1 Essay Individual 20% 1500 words max 2 Applied theory report 3 Final examination When should I submit? Friday, Week 5, 5pm AEST Individual 30% 2000 words max Friday, Week 11, 5pm AEST Individual 50% 2 hours Central examination period 100% Where should I submit it? Electronically through SafeAssign Hardcopy into the assignment box In exam venue Assessment Task 1: Essay Goal: To be able to search out, collate, and present urban economic theory and research material. A concise and coherent summary of contemporary micro and macro property economic theory, relevant to the Australian urban environment (eg urban economic drivers of urbanisation and development patterns). Product: Essay Format: This is an individual assessment. See USC Portal (Blackboard) for more information. Criteria Describe and discuss contemporary micro and macro property economic theory and the applicability to urban development. Identify social, environmental, economic and political issues of property as sustainable personal, financial and community assets. Comprehensive coverage of relevant core concepts and effective analysis of key issues. Demonstrated ability to communicate effectively in writing. Provide an accurate piece of work in terms of presentation, layout, grammar, spelling, etc. Generic skill assessed Skill assessment level Communication Information literacy Assessment Task 2: Applied theory report Goal: To be able to apply property economic theory to a particular area exhibiting sound content knowledge, strong analytical and presentation skills. A structured report identifying how theory and concepts established in the first essay assignment have relevance to current development and longer term strategies for high growth areas citing examples from the Sunshine Coast or Brisbane regions. Product: Applied theory report Format: This is an individual assessment. See USC Portal (Blackboard) for more information. Criteria Describe and discuss contemporary micro and macro property economic theory and the applicability to urban development. Reflect on property development theory and practice and consider the role of ongoing personal and professional development.
Page 4 Identify social, environmental, economic and political issues of property as sustainable personal, financial and community assets. Provide an accurate piece of work to professional standard in presentation, layout, grammar, spelling, etc. Research use of the Harvard system of references and appropriate acknowledgement of sources. Generic skill assessed Skill assessment level Organisation Communication Assessment Task 3: Final examination Goal: This assessment will allow you to demonstrate your knowledge and understanding of the course material. Product: The final examination will examine your knowledge of the theoretical and conceptual material covered in the course. It will be in short answer questions and essay format. Format: This is an Individual Assessment. Criteria Marks for this assessment task will be allocated on the basis of the relevance and completeness of each answer. The marks allocated to each question will be indicated on the exam paper. Generic skill assessed Skill assessment level Problem solving Communication 5.3 Additional assessment requirements Plagiarism In order to minimise incidents of plagiarism and collusion, this course may require that some of its assessment tasks, when submitted to Blackboard, are electronically checked through SafeAssign. This software allows for text comparisons to be made between your submitted assessment item and all other work that SafeAssign has access to. Eligibility for Supplementary Assessment Your eligibility for supplementary assessment in a course is dependent of the following conditions applying: a) The final mark is in the percentage range 47% to 49.4% b) The course is graded using the Standard Grading scale c) You have not failed an assessment task in the course due to academic misconduct 5.4 Submission penalties Late submission of assessment tasks will be penalised at the following maximum rate: 5% (of the assessment task s identified value) per day for the first two days from the date identified as the due date for the assessment task. 10% (of the assessment task s identified value) for the third day 20% (of the assessment task s identified value) for the fourth day and subsequent days up to and including seven days from the date identified as the due date for the assessment task. A result of zero is awarded for an assessment task submitted after seven days from the date identified as the due date for the assessment task. Weekdays and weekends are included in the calculation of days late. To request an extension you must contact your course coordinator to negotiate an outcome.
6. How is the course offered? 6.1 Directed study hours On campus : 2 hours per week On campus : 1 hour per week 6.2 Teaching semester/session(s) offered Semester 2 Page 5 6.3 Course activities Teaching What key concepts/content will I Week / learn? Module 1 Introduction: Summary of economic principles and concepts - Microeconomics/ macroeconomics What activities will I engage in to learn the concepts/content? Directed Study Independent Activities Study Activities 2 Property and Microeconomic Theory 3 Location and Urban Growth Theories 4 Macroeconomic theory: Housing Case Study 5 Urbanisation The Australian Experience 6 Property and Property Market Characteristics 7 Infrastructure Provision and cost 8 Development, finance, and construction 9 Industry forum and workshop and guest speaker from industry Mid Semester Break 10 Monday, 2 nd October Queen's Birthday Public Holiday New models for urban development (Master planned communities, transport-oriented developments, strategic planning) 11 Demographics and Social Trends 12 Sustainability 13 Review Study Period Central Examination Period End of Semester Break Please note that the course activities may be subject to variation. Text and
Page 6 7. What resources do I need to undertake this course? 7.1 Prescribed text(s) Please note that you need to have regular access to the resource(s) listed below: Author Year Title Hefferan, M 2013 Real Property in Australia: Foundations and Application 5th Ed. 7.2 Required and recommended readings Lists of required and recommended readings may be found for this course on its Blackboard site. These materials/readings will assist you in preparing for tutorials and assignments, and will provide further information regarding particular aspects of your course. 7.3 Specific requirements N/A 7.4 Risk management Health and safety risks have been assessed as low. It is your responsibility to research and understand risks of specific courses and to review the USC s health and safety principles by viewing the online induction training for students. 8. How can I obtain help with my studies? In the first instance you should contact your tutor, then the Course Coordinator. Additional assistance is provided to all students through Peer Advisors and Academic Skills Advisors. You can drop in or book an appointment. To book: Tel: +61 7 5430 2890 or Email: studentcentral@usc.edu.au 9. Links to relevant University policies and procedures For more information on Academic Learning & Teaching categories including: Assessment: Courses and Coursework Programs Review of Assessment and Final Grades Supplementary Assessment Administration of Central Examinations Deferred Examinations Student Academic Misconduct Students with a Disability http://www.usc.edu.au/university/governance-and-executive/policies-and-procedures#academic-learningand-teaching 10. General enquiries In person: Sippy Downs - Student Central, Ground Floor, Building C USC SouthBank - Student Central, Building B, Ground floor (level 1) USC Gympie - Student Central, 71 Cartwright Road, Gympie USC Fraser Coast - Student Central, Building A Tel: +61 7 5430 2890 Email: studentcentral@usc.edu.au