Course #: SES-05495


Mon Wed 11:30-1:00 Gund 109


Ray Torto

Course Description

This course builds upon the academic literature and the applied experiences which constitutes the accumulated knowledge of urban and real estate economics and finance to address two questions:

1. How does urban land and real estate markets mature and function in the global macro-economy and

2. How should/can a designer/developer/planner/investor analyze these markets both with regard to the macro and micro aspects of a specific project?
The course assumes no prior economic course background and the underlying course philosophy is to teach GSD students how they should evaluate markets and how market forces may/can shape the urban form, the built environment and a project’s success.

The analytical tools introduced in the course are universal and need to be understood to know what the real estate market is “telling” us. The coverage/discussion of the tools and markets will draw from current real estate market behavior and performance and examples will be drawn from across the world. The course will focus on the property and capital markets for the major commercial property types (residential, office, retail/industrial).

In addition to two weekly lectures and readings, the course will require a number of problem exercises, an in-class exam and two projects. The final evaluation of student performance for the course will be determined/weighted as follows:
Exercises and Class Discussions 15%
In class Exam 30%
Project 1 25%
Final Project 30%


Academics: Courses: Market Analysis and Urban Economics /Fall 2014

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