Topic outline

  • General

    Welcome to the Real Estate Economics course!

    • The course will introduce students to the basics of real estate economics and covers the following topics: 

      • Characteristics of real estate assets and markets
      • Actors in the real estate market
      • Market dynamics
      • Principles of real estate valuation
      • Valuation methods

      The course consists of in-class lectures, class exercises and discussions, assignment to apply the knowledge in practice and an exam. 

      All sessions will be held in-class. We start sessions at a quarter past the hour (see the times)

      Course requirements:

      In order to pass the course, students need to pass the exam (80% of the final grade)  and  hand in and pass the assignment in time (20% of the final grade).

      Participation in the lectures or tutorials is not compulsory.  However, if you do not participate in the sessions, it is your own responsibility to keep yourself informed about DL's, requirements etc. 

      We strongly recommend participating in the first lecture!

      Course schedule:

      Week Date Time                Room Learning session
      36 Ma 5 Sept  12:15 - 15:00 R001/U154  L1: Introduction to course
        Tue 6 Sept 12:15 - 15:00 R008/326 L1: Introduction to course, USP Students
        WED 7 Sept 13:15 - 16:00 R008/326 L2: Real estate markets and economic concepts
      37 TUE 13 Sept 12:15 - 15:00 R001/U154  L3: The 4Q model
        WED 14 Sept 13:15 - 16:00 R008/326 L4: Real estate as an investment
      38 TUE 20 Sept 12:15 - 15:00 R001/U154 L5: Real estate system 
        WED 21 Sept 13:15 - 16:00 R008/326 L6: Interventions concerning RE
      39 TUE 27 Sept 12:15 - 15:00 R001/U154  L7: Present value
        WED 28 Sept 13:15 - 16:00 R008/326 L8: Measuring returns
      40  TUE 4 Oct 12:15 - 15:00 R001/U154  L9: Cash flow proformas and
      discount rates
         WED 5 Oct     13:15 - 16:00 R008/326 L10: Leverage and use of debt
      41  TUE 11 Oct 12:15 - 15:00 R001/U154  L11: Market information and information asymmetries
         WED 12 Oct     13:15 - 16:00 R008/326 L12: Tutoring session (TBC)

      Exam: Tue 18th Oct 13.15 - 16.00, Room 216 at Konetekniikka 1.

      Retake exams will be arranged within ENG evening exams on 13th December 2022 and 2nd February  2023 from 16.30 to 19.30. Registration in SISU!

      Course teachers:
    • Teacher-in-charge: Assistant Prof. Oskari Harjunen, Teacher: Assistant Prof. Heidi Falkenbach

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