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;
To achieve credit for this module, students must be able to:
- 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. Demonstrate a sound understanding of the global economic significance of land and property.
- 3. Demonstrate a sound understanding of how resources are allocated in conditions where markets do not operate.
|Coursework||1500 word term paper||50%|
- 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.