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Housing Economics and Finance

Unit Code: HAS488




Duration

Contact Hours

Campus

Prerequisite

Corequisite

1 Semester

Three hours per week or equivalent

Off-Campus

Nil

Credit Points: 12.5 Credit Points

Related Course/s:

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Aims & Objectives:

Aims:
An understanding of the economics of housing is fundamental, irrespective of which sector a worker is employed in. This unit reviews the major economic and financial techniques used in housing analysis and examines key issues in terms of their economic implications. No prior knowledge of economics is assumed.
 
Learning Objectives:
After successfully completing this unit, students should be able to:
1. Examine and describe the basic elements of how housing markets work
2. Demonstrate an ability to identify and argue the reasons for government intervention in housing markets
3. Demonstrate an ability to use conceptual tools for problem-solving around nominated housing issues, i.e. Affordability, planning and homelessness
4. Demonstrate an ability to provide statistical analysis of housing market trends and patterns
5. Analyse current housing policy within an economic framework
6. Demonstrate an ability to research and write a critique of housing economics

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Teaching Methods:

The unit will be taught using a distance education approach, with modules available to students via the Blackboard system. Learning materials and resources are included in each of the modules. Regular face-to-face tutorials and learning opportunities are provided. Students also communicate regularly with tutors by email, Blackboard communication and by telephone.

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Assessment:

Assessment for this unit will comprise:

  • Two essays (1,500 words each) to assess the student’s understanding of Australian or New Zealand housing markets (equally weighted, overall 50%); and
  • A financial analysis project where the student is to work out the financial implications of a housing development with different funding and expenditure streams as affected by different construction cost structures and rent revenues (50%).

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Generic Skills Outcomes:

Graduates:

  • Are capable in their chosen professional areas
  • Operate effectively and ethically
  • Are adaptable and manage change
  • Are aware of environments
  • Are entrepreneurial

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Content:

Week 1 Economics, Economies and Economists: An Introduction
Week 2 Neoclassical Economics and the Market Model: Principles, Concepts and Problems
Week 3 Neoclassical Economics and the Housing Market
Week 4 Market Failure in Housing Markets
Week 5 Economics of Housing Subsidy 1
Week 6 Economics of Housing Subsidy 2
Week 7 Housing and Taxation
Week 8 Economics of Home Ownership
Week 9 Economics of Land Development
Week 10 Housing Affordability
Week 11 Housing Finance
Week 12 Cost Benefit Analysis
Week 13 Discounted Cash Flow and Cost Benefit Analysis

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References:

Texts and References:
Swinburne Housing Management and Policy readings on CD
Current housing and social policy journal readings as directed

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