The University of Newcastle, Australia
Available in 2020
Course code



10 units


3000 level

Course handbook


Most business activity and people reside within urban physical regions, where their real estate markets are critical to economic efficiency, equity and wealth creation. Students gain an understanding of the economic forces that shape urban economies and their property markets. The introduction of the urban scale to student’s learning is grounded in their daily lived experience and bridges the gap between their micro and macro understanding of economics. Students will gain valuable insights into the operation of urban land and housing property markets, transport systems, and factors driving metropolitan and regional growth. The commercial, industrial and retail property markets are explored with examples drawn from the Lower Hunter Region. Student will also gain an appreciation of how local and state governance impacts their region through its land markets.

Availability2020 Course Timetables

Newcastle City Precinct

  • Semester 2 - 2020

Learning outcomes

On successful completion of the course students will be able to:

1. Utilise economic models to understand the operation of urban real estate markets

2. Recognise the key stakeholders involved in the urban development process

3. Critically evaluate the role of government policy on urban real estate systems

4. Apply their acquired knowledge to commercial and public policy roles involved with the built environment


The content in this course includes the following:

  1. Macroeconomics of real estate markets
  2. Urban land use and pricing
  3. Transport systems
  4. Property development and Investment
  5. Housing markets
  6. Commercial/ industrial markets
  7. Retail real estate
  8. Economic growth and metropolitan real estate
  9. Local government, externalities, development regulation

Assumed knowledge

ECON1001 Microeconomics for Business Decisions or ECON1002 Macroeconomics in the Global Economy

Assessment items

In Term Test: Mid Semester Test

Written Assignment: Written Assignment

Formal Examination: Final Examination

Contact hours

Newcastle City Precinct

Integrated Learning Session

Face to Face On Campus 2 hour(s) per Week for Full Term

Students are expected to complete 4 hours of guided learning via online preparation, lectures, interactive workshops, tutorials, discussion groups or self-directed learning and an additional 6 hours of independent study per week.