ECON3009
10 units
3000 level
Course handbook
Description
This course will introduce students to the economics of the built environments of cities, models of land use and growth, the role of regulation and planning and the economics of private developments, housing and infrastructure. This course explores the economics of property and land use in cities, with a focus on NSW, especially the Lower Hunter Region and Sydney, in addition to international examples. The course explores four interrelated themes. First the course investigates the major economic drivers or urban, metropolitan and regional growth and development. Second, the course explores some of the main economic theories used to understand economic and regional growth, property economics and land use. Third, the course investigates the economics of infrastructure, commercial, industrial and housing projects. Finally, the impacts of property development on wealth and equity are explored. By using case studies, students will gain an understanding of the complex economic, environmental, social and political processes that shape land use in cities.
Availability2024 Course Timetables
Newcastle City Precinct
- Semester 2 - 2024
Learning outcomes
On successful completion of the course students will be able to:
1. Apply economic theories to understand the operation of urban and regional property economics, what factors influence the cost and uses of land, what is built, and how people live and work; and be able to apply these theories in context to Australian and international examples.
2. Analyse the roles of key stakeholders, motivations, and outcomes in urban property economics, and gain confidence in interacting with these players.
3. Evaluate the role of government, policy, and planning on urban property economics through a range of appropriate methodologies.
4. Apply this knowledge of the private and public roles involved with property economics to specific and relevant local issues.
5. Transfer their economic competencies to other subject and employment areas, including the interpretation of policy and planning resources; the presentation of material, data interpretation, critical evaluation, essay writing, oral presentation and facilitation skills; and an ability to work in groups and individually.
Content
The content in this course includes the following:
- Macroeconomics of real estate markets
- Urban land use and pricing
- Transport systems
- Property development and Investment
- Housing markets
- Commercial/ industrial markets
- Retail real estate
- Economic growth and metropolitan real estate
- Local government, externalities, development regulation
Assumed knowledge
ECON1001 Microeconomics for Business Decisions or ECON1002 Macroeconomics in the Global Economy
Assessment items
Tutorial / Laboratory Exercises: Group Tutorial Work
Quiz: Mid semester Test
Project: Team Project
Formal Examination: Final Exam
Contact hours
Semester 2 - 2024 - Newcastle City Precinct
Integrated Learning Session-1
- Face to Face On Campus 2 hour(s) per week(s) for 13 week(s) starting in week 1
- 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.
Course outline
Course outline not yet available.
The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.