This is an archived handbook for a previous year. The current undergraduate and postgraduate handbooks can be viewed using the links above.
Undergraduate Handbook 2016-2017 (archived)
Module ECOS3351: Real Estate Finance
Department: Business School (Economics and Finance) [Queen's Campus, Stockton]
ECOS3351: Real Estate Finance
| Type | Level | Credits | Availability | Module Cap | Location |
|---|---|---|---|---|---|
| Tied | 3 | 20 | Not available in 2016/2017 | None. | Queen's Campus Stockton |
Tied To
- N204: Accounting and Management with Business Placement
- N206: Accounting and Management with Study Abroad
- N302: Accounting and Finance with Business Placement
- N304: Accounting and Finance with Study Abroad
- N305: Finance
- N306: Finance with Business Placement
- N307: Finance with Study Abroad
- N401: Management Accounting
- N402: Financial Accounting
- N403: Financial Accounting with Business Placement
- N404: Management Accounting with Business Placement
- N405: Financial Accounting with Study Abroad
- N406: Management Accounting with Study Abroad
- NN42: Accounting and Management
- NN43: Accounting and Finance
Pre-requisites
- Foundations of Finance (ECOS1011) and Corporate Finance (ECOS2011)
Corequisites
- None
Excluded Combinations
- None
Aims
- The module seeks:
- To provide students with knowledge and understanding of questions in real estate finance linked to appropriate methodologies for their analysis.
- To enable students to rigorously explore issues in real estate finance by using computer programming and professional data sources.
- To become familiar with the valuation techniques employed in the real estate finance industry.
- To prepare students to make sound decisions concerning real estate use and investment.
- To provide students with the opportunity to develop the ability to appreciate academic and applied literature relating to real estate finance.
Content
- Introduction to real estate finance and investment
- Legal and regulatory determinants of value
- Market valuation and appraisal including: Market determinants of value; Forecasting ownership benefits and value; Valuation using the sales comparison and cost approaches; Valuation using the income approach.
- Laws and legal contracts in real estate finance
- Real estate financing including: The mortgage contract; Residential mortgage calculations and decisions; Commercial mortgage types and decisions.
- Real estate brokerage and listing contracts
- Lease and rental contracts and payments
- Real estate development: creating and maintaining value
Learning Outcomes
Subject-specific Knowledge
- On completion of this module students should have:
- developed an advanced knowledge of the central issues and questions in real estate finance;
- developed an advanced knowledge of the transaction processes in the real estate industry;
- developed an advanced knowledge of the techniques used to evaluate real estate investment projects.
Subject-specific Skills
- On completion of this module students should be able to:
- apply relevant software packages to rigorously explore issues in real estate finance and investment.
- identify relevant data sources for real estate valuation analysis.
- critically evaluate the appropriateness of different valuation techniques used by real estate professionals.
Key Skills
- Examples are provided to demonstrate how students will have the opportunity to develop the following key skills:
- Written Communication - through the formative and summative assignments;
- Planning and Organising - observing the strict assignment deadlines; revising relevant material in preparation for examinations;
- Problem Solving - e.g. by applying appropriate analytical and quantitative skills to evaluate theoretical concepts using real data;
- Initiative - e.g. by searching relevant literature, identifying recent developments and information in preparation of the summative assignment;
- Numeracy - e.g. by analysing real estate market data;
- Computer Literacy - e.g. by using Excel to analyse financial data and evaluate measures of risk and return. In addition, word-processing the assignments; downloading assignment information and notes from DUO.
Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module
- Teaching is by lectures and workshops. Learning takes place through attendance at lectures and participation in workshops, including independent study in solving assigned problems beforehand.
- Formative assessment is by means of an assignment. Feedback will be provided to each individual student which can then be built upon and developed for the summative coursework assignment. Overall feedback and general suggestions for improvements will be posted on DUO.
- Summative assessment is by means of an assignment designed around the development of an Excel spreadsheet to analyse a real estate valuation problem.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total Hours | Attendance Monitored |
|---|---|---|---|---|---|
| Lectures | 22 | 1 per week | 1 hour | 22 | |
| Seminars | 8 | fortnightly | 1 hour | 8 | Yes |
| Preparation and Reading | 170 | ||||
| Total | 200 |
Summative Assessment
| Component | Component Weighting | Element | Length/Duration | Element Weighting | Resit Opportunity |
|---|---|---|---|---|---|
| Examination | 60% | Written exam | 2 hours | 100% | same |
| Assignment | 40% | Assignment | 1500 words max | 100% | same |
Formative Assessment
One assignment of not more than 1,500 words, this will be centred around problem solving using Excel.
Students who do not attend monitored activities shown under Teaching Methods
and Learning Hours, or who fail to complete the summative or formative
assessment(s) specified above, may be subject to the Academic Progress
procedures defined in the University's General Regulation V, and may be
required to leave the University.