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UNIT INFORMATION

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  • 1. Curtin Business School School of Economics and Finance Real Estate Market Analysis 550 (REMA 550) Unit Outline Semester 2, 2006 Unit Index Number 307058 Hours per Week 3 hours Weekly Tuition Pattern 2 hour lecture, and 1 hour lab Credit Value 25 credits Lecturer David Cresp Lecturer’s Email Daivd.Cresp@colliers.com Unit Controller Michelle Twigger Unit Controller’s office 402.415 Unit Controller’s email Michelle.Twigger@cbs.curtin.edu.au Contact Telephone Numbers 9226 3502 School Telephone & Fax Numbers 9266 7756 (tel) or 9266 3026 (fax) Website for Unit Materials http://elearn.cbs.curtin.edu.au Student Consultation Times (UC) Tuesday 12-2, Thursday 10-12 Lecturer Available after lectures/labs if pre-arranged via email IMPORTANT NOTICE The Unit Outline (this document) gives the student important information about the unit, aims, outcomes, syllabus, materials, timetable, program and assessment. Note that important information relating to policies, expectations, examinations, copyright, referencing, academic misconduct, plagiarism, assistance with communication skills, guidelines for assessment, and CV development is contained in the CBS Student Handbook. This document is available for collection from CBS Student Services or can be downloaded from: http://www.business.curtin.edu.au/business/enrolled-students/student-handbook You are required to be aware of, and fulfil, your responsibilities under the University's statutes, rules, policies and procedures so it is important that you review the content of the Handbook in detail. June 2006 CRICOS provider code 00301J UNIT INFORMATION............................................................................................................3 1. Aims.....................................................................................................................................................................3 2. Outcomes..............................................................................................................................................................3 School of Economics and Finance Page 1 of 7 July, 2006
  • 2. 3. Syllabus................................................................................................................................................................4 4. Materials...............................................................................................................................................................4 5. Timetable of Classes............................................................................................................................................4 6. Program Semester Two.......................................................................................................................................5 7. Assessment...........................................................................................................................................................6 8. General Information.............................................................................................................................................7 9. Supplementary Instructions and Materials...........................................................................................................7 School of Economics and Finance Page 2 of 7 July, 2006
  • 3. UNIT INFORMATION 1. Aims The aims of this unit are to: 1. Gain an insight into factors influencing the structure and behaviour of real estate markets. 2. Further develop the application of statistical techniques to real estate data. 3. Introduce basic concepts for real estate development project feasibility analysis. 4. Further develop general computer skills associated with the analysis of real estate transaction data. 2. Outcomes 2.1 Learning Outcomes On successful completion of this unit, students will have: 1. Developed an understanding of important factors influencing the structure and behaviour of real estate markets. 2. Acquired some useful statistical skills for the analysis of real estate transaction data. 2.2 Professional Skills Outcomes Employers worldwide want graduates who have developed effective professional skills. The CBS professional skills program includes communication (writing, interpersonal interactions and cultural awareness, and presenting), critical and creative thinking (problem solving and decision making), team work, IT literacy and information literacy. On successful completion of this unit, students should be able to: 1. Communicate effectively in writing, for a range of purposes and demonstrate this skill by effectively answering test, assignment, and exam questions. 2. Analyse real estate markets through the use of statistical techniques and demonstrate these skills in practice exercises, computer lab sessions and by correctly answering exam questions. 3. Select appropriate technology to create, store, exchange and use real estate information in its various forms and demonstrate these skills in computer lab sessions and by successfully completing an individual computer lab assignment. 4. Identify potential sources of information in a variety of formats and develop appropriate search strategies. This skill will be achieved through students accessing relevant library information, understanding library catalogue records and managing real estate data sources. School of Economics and Finance Page 3 of 7 July, 2006
  • 4. 3. Syllabus Real estate market plan, analysing local economies, export base models, employment multipliers, market segmentation, absorption analysis, statistical processes in market analysis, market analysis and real estate valuation, and marketing real estate products. http://handbook.curtin.edu.au/units/30/307058.html 4. Materials 4.1 Texts A Schmitz & D L Brett, Real Estate Market Analysis, ULI 2001 Shelf Number: 333.332SCH The selected chapters from this book will only be available on e-reserve during the weeks shown in the semester programme. It is essential that students download the chapters as they become available, as the availability expires after the week ends! Check the Blackboard website frequently for details on e-reserve availability. There is a copy of the book on Reserve in the library. This is the alternative resource it you miss the e- reserve period of availability. N Carn, J Rabianski, R Racster, M Seldon, Real Estate Market Analysis, Prentice Hall 1988. Shelf Number: 333.33REA 4.2 References A useful reference for statistics: Keller, G., Warrack, B., (1997) Statistics for Management and Economics, 4th ed. Belmont, CA ; Pacific Grove, CA : Duxbury Press, c1997 Shelf number: 658.4033KEL Additional sources of information will be provided through Blackboard. 4.4 Other Resources The course is fully Blackboard dependent. Students must check the unit’s blackboard at least once a week. Access: http://elearn.cbs.curtin.edu.au 5. Timetable of Classes Class timetable for Semester 2 2006 Class ID Day Start Time End Time Class location 307058 Lab 001 Wednesday 20:00 21:00 402.223 307058 Seminar 001 Wednesday 18:00 20:00 402.223 School of Economics and Finance Page 4 of 7 July, 2006
  • 5. 6. Program Semester Two Pre-readings are a minimum prescribed requirement for weekly student preparation. Week Lecture/Seminar Pre-readings Tutorial/ Assessment No. Begin Lab. 1. 31 Jul Introduction – What is Use of real estate Details of oral market analysis, who uses web sites. presentation. market analysis, sources of data and intro presentation skills. 2. 7 Aug Basic Approach to Real Schmitz (Real Estate Analysis of Valuer Estate Market Analysis. Market Analysis), Generals data and Chap. 2. pivot tables. E-reserve Quiz 3. 14 Aug Analysing economic factors Carn (Real Estate ABS data analysis, Lab that affect the property Market Analysis), charting and tables assignment market. Chap. 3 Quiz available. E-reserve 4. 21 Aug Residential Market Analysis Schmitz (Real Estate Analysis of census Residential Market Market Analysis), data and charting. Presentation Chap. 3 Quiz E-reserve 5 28 Aug Tuition Free Week 6. 4 Sept Guest Speaker – Carn (Real Estate Land subdivision Major Residential Development Market Analysis), data and pivot Assignment analysis Chap. 7 tables. Details E-reserve Quiz 7. 11 Sept Guest speaker – Trish Innes Variable outgoing Lab Analysis within property benchmarking and assignment management. charting. due Lab work 8. 18 Sept Office market analysis. Schmitz (Real Estate Analysis of Office market presentation. Market Analysis), economic data and Chap. 4 charting. E-reserve Quiz 9. 25 Sept Tuition Free Week 10. 2 Oct Retail Market Analysis. Schmitz (Real Estate Turnover Retail market presentation. Market Analysis), benchmarking and Chap. 4 charting. E-reserve Quiz 11. 9 Oct Guest speaker – Tim Carn (Real Estate Use of IF Mazzerol Market Analysis), statements. Use of questionnaires, Chap. 14 surveys and focus groups for property analysis. E-reserve 13. 23 Oct Guest speaker – John Del ABS Data & Super Dosso Analysis within Table valuations and consulting and risk analysis. 14. 30 Oct Review of course. No lab this week. Assignment Due 15. 6 Nov Study Week 16. Exams Week 1 17. Exams Week 2 School of Economics and Finance Page 5 of 7 July, 2006
  • 6. 7. Assessment 7.1 Summary To pass this unit you must: a) Receive an overall grade of 5 or above and a mark greater than or equal to 50, AND b) Submit all assessment activities. No. Assessment Activity Percentage % 1 Oral presentation 30% 2 Laboratory Assignment 25% 3 Participation 5% 4 Major Assignment 40% Total 100% The assessments are due as per the Program above. Assessments should be submitted to lecturer in class. 7.2 Assessment Details 7.2.1 Reading tests Students will be required to give a 5 minute oral presentation. Details of this assignment will be made available in week 1. 7.2.2 Computer lab assignment The assignment will involve applying techniques to specific data sets. This will be an individual assignment. Instructions and data for the assignment will be available in week 3. The assignment is due in week 8 of semester. 7.2.3 Participation The participation mark is not an attendance mark. Neither is it a reflection on a student’s verbal participation. It is a general mark that relates to the unit controller’s opinion as to an individual’s effort and application during the semester. Regular attendance and a good assignment contribution will constitute good participation. A participation mark will not be awarded to a student until all areas of assessment for the semester have been considered. For this reason participation marks will not be made available until final results are released. Students will be informed of their participation mark if they contact the unit controller after final results have been released. 7.2.4 Major Assignment The major assignment will involve preparing a major market assessment of a commercial property. Details of this assignment will be made available in week 6. You should retain a copy of your assignment if you wish to refer to it prior to the final exam. It is strongly recommended that students enclose with their assignment a stamped self-addressed envelope to ensure a safe return. If this is not included then assignments will only be available for collection from the Unit Controller, by the individual responsible for the work, during the consultation hours given above. 7.3 Assessment Compliance Information Due dates will be strictly adhered to. Extensions will be granted only in cases of demonstrated urgent need. It is your responsibility to check the due date. Official release results for this unit are published on Oasis on the Curtin website. https://portal.curtin.edu.au/http://sm-portal4.curtin.edu.au:8080/amserver/UI/Login? gw=portal.curtin.edu.au&org=students 7.4 Penalty for Late Submission of Assessments If assignments are not submitted by the due date, a penalty of 5% per day will be deducted from the assessment mark and after seven (7) days a zero mark will be recorded. It is the student’s responsibility to keep appropriate copies/backups of every assignment submitted. School of Economics and Finance Page 6 of 7 July, 2006
  • 7. 7.5 Relationship of Assessment Activities to Learning Outcomes and Professional Skills This table illustrates how the assessment activities relate to the assessment of the learning outcomes and professional skills. Outcomes Assessment Activity Learning Outcomes Oral Lab Participation Major Presentation Assignment Assignment 1. Developed an understanding of important factors influencing the structure and behaviour of     real estate markets. 2. Acquired some useful statistical skills for the analysis of real estate transaction data.     Professional Skills 1 Communicate effectively in writing, for a range of purposes and demonstrate this skill by  effectively writing a major assignment. 2. Analyse real estate markets through the use of statistical techniques and demonstrate these skills in practice exercises, computer lab sessions and    by correctly answering exam questions. 3. Select appropriate technology to create, store, exchange and use real estate information in its various forms and demonstrate these skills in computer lab sessions and by successfully   completing an individual computer lab assignment. 4. Demonstrate oral presentation skills and learn to give constructive feedback to others.  5. Identify potential sources of information in a variety of formats and develop appropriate search strategies. This skill will be achieved through students accessing relevant library   information, understanding library catalogue records and managing real estate data sources. 8. General Information Please see the CBS Student Handbook as described on Page 1 of this document for important general information. 9. Supplementary Instructions and Materials Warning 1: Advanced Excel skills will be expected when you get a job so use this unit to help you improve your skills. Warning 2: The course is Blackboard dependent. All the details, lecture notes, required data for Excel labs, course content, dates, deadlines, information and available software will be available in Blackboard. Warning 3: Lecture notes will be available on Blackboard. Market presentations will not be available as this information is commercially sensitive. END OF UNIT INFORMATION School of Economics and Finance Page 7 of 7 July, 2006

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