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

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.
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

L. Gaeta, Il mercato immobiliare. Beni, diritti, valori, Carocci, 2009.



Reference Bibliography

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

Type of delivery of the course

Lectures, case studies debated in the classroom, presentation of key words, listening to testimonies from privileged actors

Attendance

Attendance is mandatory for 75% of the hours

Type of evaluation

Oral examination on the recommended bibliography. For students attending the course and seminars it is possible to write a paper on topics presented in the lectures or applying some of the research methods to two urban projects. The paper should review part of the recommended bibliography and/or other relevant literature. In this case the examination becomes a discussion about the paper and the relevant literature.