Economics for Planners
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. The core course introduces concepts and techniques of economics that pertain to urban planners. The government’s role in the economics of cities and in development, national welfare and housing policies, public and private finance, and the cost-benefits associated with development are addressed. The course addresses state and regional economic policies that affect cities and regional economies, as well as finance, investment, fiscal resources and redevelopment initiatives. Real estate development case studies from a variety of innovative local projects in the Washington region are included in the course content. 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. Problem sets, case studies, tests, and class participation are included in grading.
Note: Required course for URP students.