This course focuses on the built environment and land-use policy. The course combines readings from the real estate economics academic literature with conversations with active commercial real estate professionals to offer GSD students an opportunity to learn how to measure, evaluate and understand real estate market forces—trends and cycles. These factors shape and determine urban planning and urban form, and determine the success or failure of an architect’s, or designer’s, or urban planner’s vision or project. Both the space and capital markets for real estate are studied.
The course addresses two questions:
- How do urban land and real estate markets function in the global macro-economy? and,
- How should a designer/developer/planner/investor evaluate these markets both with regard to the macro and the micro aspects of a specific project?
The course assumes no economic course prerequisite knowledge and is presented in a lecture format. Evaluation is based on an in-class mid-term, a take home final exam, and a course project/paper.
Upon completion of the course, students will be able to:
- Measure, evaluate and understand real estate market forces that shape and determine urban planning and urban form, and determine the success or failure of an architect’s/designers/urban planner’s vision or project
- Analyze how urban land and real estate markets function and compete in the global macro-economy
- Evaluate markets both with regard to the macro and micro aspects of specific project