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 or FINC11002
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 - 2026
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 Scholarship
Embracing artificial intelligence (AI)
There is potential to refine the first assessment task and incorporate a simulated community forum, where students engage with prominent property economists (AI) in an aim to solve a wicked problem.
Feedback from Unit outlines
Unit refinements
There are a series of refinements due to accommodate a new assessment task and update learning outcomes and mapping.
- 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 government intervention, 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
- Conceptualise different models of regional development and how these interact with markets for land resources
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 1 - Case Study - 40% | ||||||
| 2 - Take Home Exam - 60% | ||||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 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 - First Nations Knowledges | ||||||
| 11 - Aboriginal and Torres Strait Islander Cultures | ||||||
Textbooks
Urban Land Economics
- Edition: 6th edn (2019)
- Authors: Harvey, J & Jowsey, E
- Palgrave Macmillan
- Hampshire Hampshire , England , UK
- ISBN: 9781403900012
This resource will be made available online for enrolled students.
- Binding: Paperback
This resource will be made available online for enrolled students.
Additional Textbook Information
In this unit you will be using generative artificial intelligence (AI). In particular, one of the assessment tasks requires you to form a virtual forum and engage with AI 'actors'.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Microsoft Office (Word, Excel, PowerPoint)
- Zoom access: microphone and webcam required
- Microsoft CoPilot Generative Artificial Intelligence tool.
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
Week 1
Begin Date: 09 Mar 2026Module/Topic
Scope of economics and economic efficiency
Chapter
Chapter 1
Events and Submissions/Topic
Week 2
Begin Date: 16 Mar 2026Module/Topic
The market mechanism for real property
Chapter
Chapters 2 and 3
Events and Submissions/Topic
Week 3
Begin Date: 23 Mar 2026Module/Topic
The operation of real property markets
Chapter
Chapters 3 (partial) and 4
Events and Submissions/Topic
Week 4
Begin Date: 30 Mar 2026Module/Topic
The property development process
Chapter
Chapter 6
Events and Submissions/Topic
Week 5
Begin Date: 06 Apr 2026Module/Topic
Cost benefit analysis of property development
Chapter
Chapter 11
Events and Submissions/Topic
Week 6
Begin Date: 13 Apr 2026Module/Topic
The economics of planning controls
Chapter
Chapter 12
Events and Submissions/Topic
Vacation Week
Begin Date: 20 Apr 2026Module/Topic
Chapter
Events and Submissions/Topic
Week 7
Begin Date: 27 Apr 2026Module/Topic
The economics of the construction industry
Chapter
Chapter 13
Events and Submissions/Topic
Week 8
Begin Date: 04 May 2026Module/Topic
Sustainable development of the built environment
Chapter
Chapter 17
Events and Submissions/Topic
Week 9
Begin Date: 11 May 2026Module/Topic
Regional real estate markets
Chapter
Chapter 19
Events and Submissions/Topic
Week 10
Begin Date: 18 May 2026Module/Topic
The impact of government policies
Chapter
Chapter 20
Events and Submissions/Topic
Week 11
Begin Date: 25 May 2026Module/Topic
Taxation of real estate
Chapter
Chapter 22
Events and Submissions/Topic
Week 12
Begin Date: 01 Jun 2026Module/Topic
Market based instruments
Chapter
Study materials available in the Unit Moodle site
Events and Submissions/Topic
Exam Week
Begin Date: 08 Jun 2026Module/Topic
Chapter
Events and Submissions/Topic
Vacation/Exam Week
Begin Date: 15 Jun 2026Module/Topic
Chapter
Events and Submissions/Topic
1 Case Study
Using Microsoft Copilot, establish a virtual stakeholder forum to solve the presented current and complex real estate problem.
Engage with the virtual stakeholders to better understand the presented problem and impact of the suggested solutions.
Reflect on the activity using Boud’s DIEP model and share your findings in a 6-8 minute video recording. The video should have you visible and feature your own voice. You are welcome to use visual aids and/or slides.
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 should use AI creatively to solve the task, potentially co-designing new approaches with your instructor. That said, the reflections forming the basis of your video recording are yours alone and your final submission should show how you have developed and refined these ideas.
Further information including the stakeholders to include and the specific problem will be available in Moodle.
Week 7 Friday (1 May 2026) 11:45 pm AEST
Online submission through Moodle.
Week 9 Friday (15 May 2026)
The video should have you visible and feature your own voice. The assessment focuses on graduate attributes and learning outcomes as identified. A more detailed rubric will be available in Moodle.
- 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 government intervention, and how these operate at different levels
- Identify how congestion and environmental problems are issues in urban planning and development, and how they may be addressed
- Conceptualise different models of regional development and how these interact with markets for land resources
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 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.
The assessment focuses on graduate attributes and learning outcomes as identified.
- 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
- 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
- Conceptualise different models of regional development and how these interact with markets for land resources
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?
