MPRE-732 Real Estate Economics

Frank Nothaft

This course applies economic analysis to the study of urban real estate markets. The goal of the course is for students to understand and apply economic principles to the analysis of real estate. The course provides an overview of real estate in the U.S. relative to other asset categories, and examines unique aspects of both residential and nonresidential property in urban markets. Topics covered include growth of the urban core, determination of rent and vacancy, loan-product choice, property price indexes, and economics of the real estate cycle.

Previous coursework in economics is expected, preferably through intermediate economics, and familiarity with basic terms and concepts in economics. Calculus is not required, but a good understanding of algebra and comfort in interpreting graphs is important. Format is lecture with occasional guest speakers.

Required texts for this course are: Urban Economics and Real Estate Markets by Denise DiPasquale and William C. Wheaton (Prentice-Hall); A Primer on U.S. Housing Markets and Housing Policy by Richard K. Green and Stephen Malpezzi (Urban Institute Press).

Credits: 3

Prerequisites: MPRE621

Course syllabi
The following syllabi may help you learn more about this course (login required):

Spring '12: Nothaft F (file download)

Additional syllabi may be available in prior academic years.

MPRE-732-01 Real Estate Economics

Frank Nothaft

Course Description

This course applies economic analysis to the study of urban real estate markets. The goal of the course is for students to understand and apply economic principles to the analysis of real estate. The course provides an overview of real estate in the U.S. relative to other asset categories, and examines unique aspects of both residential and nonresidential property in urban markets. Among topics covered include growth of the urban core, determination of rent and vacancy, loan-product choice, property price indexes, and economics of the real estate cycle.

Previous coursework in economics is expected, preferably through intermediate economics, and familiarity with basic terms and concepts in economics. Calculus is not required, but a good understanding of algebra and comfort in interpreting graphs is important. Format is lecture with occasional guest speaker.

Texts

Urban Economics and Real Estate Markets by Denise DiPasquale and William C. Wheaton (Prentice-Hall); A Primer on U.S. Housing Markets and Housing Policy by Richard K. Green and Stephen Malpezzi (Urban Institute Press).

Credits: 3

Prerequisites: MPRE621

Other academic years
There is information about this course number in other academic years:

• 2009-2010 Fall and Spring
• 2010-2011 Fall and Spring
• 2012-2013 Fall and Spring
• 2013-2014 Fall and Spring

More information
Look for this course in the schedule of classes.

The academic department web site for this program may provide other details about this course.