Overview
The purpose of this unit will be to introduce students to a range of economic principles relating to real estate and property issues. The unit will be organised in three main sections. The first section will involve an analysis of why economic, social and environmental problems occur, the second reviews some assessment tools that are available, and the third will involve an overview of urban and regional economic issues, with particular focus on the economics of infrastructure planning.
Details
Pre-requisites or Co-requisites
ECON11026
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2025
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from SUTE 2024
'[UC] is the best lecturer I have had throughout my degree. Very easy to reach and helpful. The only updated unit content I would have liked is a more recent textbook, as it was published in 2004 (20 years ago) and referenced some studies done in the 1960-1970's - one example of this related to government rent controls which was on the exam and I don't think it is accurate to today's rental market/rental controls required. In a property economics degree, which is arguably a constantly evolving industry, it would be helpful to have a more recent textbook to refer to. '
Current market trends and media articles were integrated into the weekly classes and the assessments. The format and approach to these classes and assessments is to be retained. That said, the foundation textbook is dated and will be revised for the 2025 offering.
- Identify how market mechanisms work to allocate resources, and how market demand and supply systems operate in real property markets
- Understand the development process, and how development proposals can be evaluated in economic terms
- Identify the economic arguments for planning controls and how these operate at different levels
- Develop an understanding of patterns of land use for different activities, including those in urban areas
- Identify how congestion and environmental problems are issues in urban planning and development, and how they may be addressed
- Identify the range of factors that drive housing markets
- Conceptualise different models of regional development and how these interact with markets for land resources
- Understand how governments impact on housing markets at both macro and micro policy levels
- Appreciate the potential for market-based instruments and other economic incentive mechanisms to be used in land resource markets
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | |
| 1 - Written Assessment - 40% | |||||||||
| 2 - Take Home Exam - 60% | |||||||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | |
| 1 - Communication | |||||||||
| 2 - Problem Solving | |||||||||
| 3 - Critical Thinking | |||||||||
| 4 - Information Literacy | |||||||||
| 5 - Team Work | |||||||||
| 6 - Information Technology Competence | |||||||||
| 7 - Cross Cultural Competence | |||||||||
| 8 - Ethical practice | |||||||||
| 9 - Social Innovation | |||||||||
| 10 - Aboriginal and Torres Strait Islander Cultures | |||||||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Written Assessment - 40% | ||||||||||
| 2 - Take Home Exam - 60% | ||||||||||
Textbooks
Urban Land Economics
Edition: 6th edn (2019)
Authors: Harvey, J & Jowsey, E
Palgrave Macmillan
Hampshire Hampshire , England , UK
ISBN: 9781403900012
Binding: Paperback
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Microsoft Office (Word, Excel, PowerPoint)
- Zoom access: microphone and webcam required
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
s.boyd@cqu.edu.au
Module/Topic
Scope of economics and economic efficiency
Chapter
Chapter 1
Events and Submissions/Topic
Module/Topic
The market mechanism for real property
Chapter
Chapters 2 and 3
Events and Submissions/Topic
Module/Topic
The operation of real property markets
Chapter
Chapters 3 (partial) and 4
Events and Submissions/Topic
Module/Topic
The property development process
Chapter
Chapter 6
Events and Submissions/Topic
Module/Topic
Cost benefit analysis of property development
Chapter
Chapter 11
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
The economics of planning controls
Chapter
Chapter 12
Events and Submissions/Topic
Module/Topic
The economics of the construction industry
Chapter
Chapter 13
Events and Submissions/Topic
Module/Topic
Sustainable development of the built environment
Chapter
Chapter 17
Events and Submissions/Topic
Module/Topic
Regional real estate markets
Chapter
Chapter 19
Events and Submissions/Topic
Module/Topic
The impact of government policies
Chapter
Chapter 20
Events and Submissions/Topic
Module/Topic
Taxation of real estate
Chapter
Chapter 22
Events and Submissions/Topic
Module/Topic
Market based instruments
Chapter
Study materials available in the Unit Moodle site
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Written Assessment
The assessment has been structured with tasks relating to property market analysis and planning controls in Australian cities and regions. These tasks will include profiling regions and undertaking calculations.
This assessment requires adherence to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity. You may use AI for planning, idea development, and research. Your final submission should show how you have developed and refined ideas.
See details in the unit Moodle site.
Week 7 Friday (2 May 2025) 11:45 pm AEST
Week 9 Thursday (15 May 2025)
Your assignment will be graded according to its overall quality with the following broad criteria:
- Appropriate methods and quality of analysis of figures/field data/information
- Strength of structured argument/discussion to conclude each of the exercise
- Presentation, structure, grammar, style, logical flow and brevity
The various levels of pass will typically display the following:
P – Pass
Used for a mark in the range 49.5% – 64%.
Evident as: a sound level of presentation, with a basic structure, adequate grammar & writing style that fulfils the basic requirements of the assignment. The methods and analysis will provide a standard account of the findings and/or relevant issues. The conclusion will contain basic array of relevant argument/discussion about the findings.
C – Credit
Used for a mark in the range of 64.5% – 74%.
Evident as: a professional level of presentation with an easily readable structure, use of grammar and writing style that comfortably fulfills the requirements of the assignment. The methods and analysis will provide a sound account of the findings and/or relevant issues. The conclusion will contain competent array of relevant argument/discussion about the findings.
D – Distinction
Used for a mark in the range of 74.5% – 84%.
Evident as: a professional level of presentation with a polished structure, use of grammar and writing style that very competently fulfills the basic requirements of the assignment. The methods and analysis will provide a very good account of the findings and/or relevant issues. The conclusion will contain comprehensive array of relevant argument/discussion about the findings.
HD – High Distinction
Used for a mark in the range 84.5% – 100%.
Evident as: an outstanding and faultless level of presentation with a polished structure, use of grammar and writing style that shows an excellent understanding of knowledge, skills and application required for the assignment indicating keen interest and considerable capacity in all aspects. The methods and analysis will provide an excellent account of the findings and/or relevant issues. The conclusion will contain comprehensive array and of relevant argument/discussion about the findings, with relevant supporting evidence (if required).
- Identify how market mechanisms work to allocate resources, and how market demand and supply systems operate in real property markets
- Understand the development process, and how development proposals can be evaluated in economic terms
- Identify the economic arguments for planning controls and how these operate at different levels
- Develop an understanding of patterns of land use for different activities, including those in urban areas
- Identify how congestion and environmental problems are issues in urban planning and development, and how they may be addressed
- Identify the range of factors that drive housing markets
- Conceptualise different models of regional development and how these interact with markets for land resources
- Understand how governments impact on housing markets at both macro and micro policy levels
- Appreciate the potential for market-based instruments and other economic incentive mechanisms to be used in land resource markets
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
2 Take Home Exam
The take home exam will focus of problem solving in property economics. Specifically you will need to analyse market information and complete a series of calculations in addition to sharing applied knowledge.
This assessment requires adherence to the guidelines on the use of artificial intelligence tools as specified in the Artificial Intelligence Assessment Scale (AIAS). Any misuse or lack of disclosure regarding the use of AI tools will be considered a breach of academic integrity. You may use AI to assist with specific tasks such as drafting text, refining and evaluating your work. You must critically evaluate and modify any AI-generated content you use.
The assessment criteria for the take home exam aligns with the prescribed learning outcomes.
A more detailed brief will be provided in week 10. Please see details about the tasks in the Unit Moodle site.
The proposed date, day and timing align as close as possible to the scheduling of weekly class. That said, it is only finalised in week 10 as we review study plans and work around timing conflicts.
The final assessment task grade is released at the same time as term grades are finalised. However, you are welcome to speak with your unit coordinator at any stage regarding your progress.
No Assessment Criteria
- Identify how market mechanisms work to allocate resources, and how market demand and supply systems operate in real property markets
- Understand the development process, and how development proposals can be evaluated in economic terms
- Identify the economic arguments for planning controls and how these operate at different levels
- Develop an understanding of patterns of land use for different activities, including those in urban areas
- Identify how congestion and environmental problems are issues in urban planning and development, and how they may be addressed
- Identify the range of factors that drive housing markets
- Conceptualise different models of regional development and how these interact with markets for land resources
- Understand how governments impact on housing markets at both macro and micro policy levels
- Appreciate the potential for market-based instruments and other economic incentive mechanisms to be used in land resource markets
- Problem Solving
- Critical Thinking
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
