Browse Hierarchy ESTM4001: Economics of Built Environment

This module provides an introduction to the micro-economics of markets, in particular the market for land and property. Students analyse prices and markets and the organisations operating in property market and how their decisions need to be guided by the planning system. Students examine land and capital in the context of this economic and organisational framework. Using the description of the macro-economy as a foundation, students investigate the inter-relationships between the property market and the activity of the whole economy. The role of government, and selected government policies are examined, particularly in terms of the property market. Investment markets are examined as well as the role that real estate plays in investment strategy by government and the private sector. Successful completion of this module provides students with the pre-requisites required for more advanced Real Estate and Construction Management and Planning modules.