21010005 - Urban markets and real estate developers

The central concern of the course is to identify ideas and methods of enhancing urban productivity while promoting sustainability and equity through public intervention at the city level. Bringing economic analysis to city planning and management, the course will focus on urban public policy & private economic development, mainly in the real estate sector. The course emphasizes the importance of the economic context, the understanding of the underlying rationale for policies, and the response private agents give to public action and incentives.
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Programme

Training objectives
The central concern of the course is to identify ideas and methods of enhancing urban productivity while promoting sustainability and equity through public intervention at the city level. Bringing economic analysis to city planning and management, the course will focus on urban public policy & private economic development, mainly in the real estate sector. The course emphasizes the importance of the economic context, the understanding of the underlying rationale for policies, and the response private agents give to public action and incentive.

Programme
Focusing on case studies will be the teaching core of the course and a rich basis for developing students’ problem solving and decision making skills will be provided.
In order to strengthen participants' analytical skills, the course also provides: a) training in the critical assessment and use of micro- and macro-economic data, b) the analysis of urban economic activity and the application of economic criteria to urban projects. The main learning goals are the following: a) to use simple empirical tools of economic analysis and evaluation, b) to articulate a critical analysis of competing viewpoints and cooperative assessments, and c) to integrate various analytic steps into some simple overall assessments of the relationship between markets and policy that relies on sound principles and is well argued. Mostly regarding the goal sub letter c), students will be expected to actively participate and make presentations.


Core Documentation

References
L. Gaeta, Il mercato immobiliare. Beni, diritti, valori, Carocci, 2009.
D.C. Ling, W.R. Archer, Real Estate Principles. A value approach, Mcgraw-Hill/Irwin, 2008 (chapters 1, 2, 6-9, 17, 18, 24).

Reference Bibliography

Gastone Ave, Città e strategie. Urbanistica e rigenerazione economica delle città, Maggioli editore, 2004. Fausto Curti, Lo scambio leale. Negoziazione urbanistica e offerta privata di spazi e servizi pubblici, Officina, 2006. Carlo Alberini, Urbanistica e real estate. Il ruolo della finanza nei processi di trasformazione urbana, Franco Angeli, 2010.

Type of delivery of the course

Through a series of lectures, seminars, workshops and case studies, the course endeavours to impart a critical understanding of the economics governing urban development and the real estate market, enabling students to appreciate and assess the contexts within which a city economy operates.

Type of evaluation

Verification of learning Oral examination on bibliography and lessons. Those attending can agree with the professor a case study, referring to a project carried out or in progress, on which to develop a rough financial & economic feasibility study, making use of the bibliography of the course and other specific sources.