COURSE SYLLABUS

Real Estate Economics 7.5 Credits

Samhällsekonomi inom fastighetsförmedling
First cycle, N0025N
Version
Course syllabus valid: Autumn 2017 Sp 1 - Present
The version indicates the term and period for which this course syllabus is valid. The most recent version of the course syllabus is shown first.

Syllabus established
The syllabus was established on December 17, 2007 and is valid from the autumn term 2008.

Last revised
by Director of Undergraduate Studies Daniel Örtqvist, Department of Business Administration, Technology and Social Sciences 15 Feb 2017

Education level
First cycle
Grade scale
U G VG
Subject
Economics
Subject group (SCB)
Economics

Entry requirements

In order to meet the general entry requirements for first cycle studies you must have successfully completed upper secondary education and documented skills in English language + Swedish upper secondary school courses Mathematics 3b/3c , Social Studies 1b/1a1 +1a2 (specifik entry A4). Or: Swedish upper secondary school courses English B, Mathematics C, Social Studies A (specifik entry 4)


More information about English language requirements


Selection

The selection is based on final school grades or Swedish Scholastic Aptitude Test.



Course Aim
After participating in the course the student should have gained knowledge about how real estate prices are affected by both micro- and macroeconomic factors. Furthermore the student should be able to undertake basic forecasting of the development of property prices. Specifically this means that after finishing the course the student should be able to:
• Account for the price formation in real estate markets with the aid of microeconomic models, with emphasis on the local and regional real estate markets.
• Account for and analyse the effects of different types of market regulations.
• Undertake basic analysis and forecasting of real estate price developments in the local and regional property markets.
• Account for the mechanisms driving the macroeconomic development concerning for instance economic growth, unemployment and inflation. The student should also be able to explain how such factors affect for example real estate prices and construction activities.
• Account for the interest rate formation in a small open economy such as Sweden both in the short and in the long run. Furthermore the student should also be able to analyse how interest rates affects price formation in the real estate markets and construction activities in the economy.

Contents
• Models of partial market equilibrium, with emphasis on markets for real estate and apartments and the interaction between these markets.
• Demand for and supply of real estate.
• Income and price sensitivity analysis.
• The impact of consumer behavior on the demand for goods and services, with emphasis on the demand for real estate.
• The impact of property construction on the general supply of goods and services, given the restriction posed by technology and market regulations within the real estate sector of the economy.
• The behaviour of the firm given market structure.
• Introduction to markets failures and their importance for the price formation within the real estate sector.
• Introduction to different macroeconomic concepts such as GDP, economic growth, unemployment, inflation, exchange rates and savings.
• Business cycles and growth policies in a small open economy and their impact on the real estate sector.
• Interest rate formation in a small open economy in the short and long run and its impact on the real estate sector.
• Market analysis techniques

Realization
The course consists of lectures, seminars and project work.

Examination
Written exam corresponding to 6 course points. Written project corresponding to 1,5 course points.

Remarks
Students must register for the courses themselves or contact ETS educational administration, eduets@ltu.se not later than three days after the quarter commences. Failure to do so can result in the place being lost. This rule also applies to students with a guaranteed place.

Transition terms
4416

Examiner
Jerry Blomberg

Literature. Valid from Autumn 2009 Sp 1 (May change until 10 weeks before course start)
Klas Eklund, Vår ekonomi - En introduktion till samhällsekonomin, Norstedts, latest edition.

Course offered by
Department of Business Administration, Technology and Social Sciences

Items/credits
NumberTypeCreditsGrade
0001Written exam6.0U G VG
0002Written project1.5U G#

Study guidance
Study guidance for the course is to be found in our learning platform Canvas before the course starts. Students applying for single subject courses get more information in the Welcome letter. You will find the learning platform via My LTU.