Module: Land and Property Economics

Module details

  • Module code

    1321
  • Module leader

    Alan Butler
  • Module Level

    4
  • Module credits

    15
  • Min study time

    150 hours
  • Contact hrs

    36 hours
  • Teaching Period

    Semester 2

Module content

The module will consider:

  • Basic principles of microeconomics;
  • Land as a social and economic resource - the significance of the UN Sustainable Development Goals;
  • Property rights and markets – land prices and values;
  • The functioning of a property market;
  • The role of property markets in the wider economy;
  • Basic principles of macroeconomics;
  • The demand for, and supply of, land for housing;
  • The price and value of agricultural land;
  • The economics of the environment: challenges to conventional economic theory;    
  • International property markets;
  • The circular economy;

Module outcomes

To achieve credit for this module, students must be able to:

  1. 1. Demonstrate a sound understanding of basic macro and micro economic concepts with particular reference to land and property and the functioning of local, national and international property markets;
  2. 2. Demonstrate a sound understanding of the global economic significance of land and property.
  3. 3. Demonstrate a sound understanding of how resources are allocated in conditions where markets do not operate.

Assessment

Assessment Description Weighting
Coursework 1500 word term paper 50%
Examination 1.5hr examination 50%

Key texts

  • Hanley, N., Shogren, J. and White, B. (2019) Introduction to environmental economics, 3rd edn. Oxford University Press.
  • Jowsey, E. (2011). Real Estate Economics. 1st edn. Palgrave Macmillan.
  • Myers, D. (2018) Economics and property, 4th edn. London: Routledge.
  • Ryan-Collins, J., Lloyd, T. and Macfarlane, L. (2017) Rethinking the economics of land and housing. London. Zed Books.
  • Wu, J. and Duke, J.M. (2014) The Oxford handbook of land economics. Oxford University Press.