Module Provider: |
Real Estate and Planning |
Number of credits: |
10 [5 ECTS credits] |
Level: |
H (Honours) |
Terms in which taught: |
Spring |
Module Convenor: |
Prof
PJ
Byrne |
Pre-requisites: |
|
Co-requisites: |
|
Modules excluded: |
|
Module version for: |
2006/7 |
Aims:
The aims of this module are to give student an understanding of the importance of risk and uncertainty in the real estate decision-making process; to understand which are the important or risk bearing factors in particular kinds of real estate decision and to describe their influence and significance. The associated practical work is designed to show the extent to which these issues can be recognised, analysed and managed. |
Assessable learning outcomes:
By the end of the module it is expected that the student will be able to:
appreciate the significance of uncertainty and therefore risk, in the (investment) appraisal process
identify what are the important and/or risk bearing variable factors
understand how risk may be managed in a variety of circumstances
use the appropriate methods for isolating and studying the effects that these variables have on the performance of a decision problem. |
Additional outcomes:
Students will enhance their report writing skills. They will have an introduction to the use of specialised risk analysis spreadsheet add-in software, in the context of real estate analyses. |
Outline content:
There will be eight lectures. Following a general introduction to, or rehearsal of, conventional definitions and views of uncertainty and risk, the first part of the module develops a more rigorous and systematic consideration of risk. This will be associated with the ideas of decision methodology and the development of formal and systematic approaches to assessing and dealing with risk. It will consider the description of variables and their measurement under conditions of uncertainty.
The second part of the module will look at ways of dealing positively with the presence of uncertainty, understanding and managing its effects. The lecture content will include:
Risk and decision-making
Risk assessment
Risk analysis: the basics
Applying risk analysis in practice |
Brief description of teaching
and learning methods:
There is one one-hour lecture per week; the coursework assessment is supported by a one-hour practical. |
Contact hours:
| |
Autumn |
Spring |
Summer |
| Lectures |
|
8 |
|
| Tutorials/seminars |
|
|
|
| Practicals |
|
10 |
|
| Other contact (eg study visits) |
|
|
|
| |
|
|
|
| Total hours |
|
18 |
|
| |
|
|
|
| Number of essays or assignments |
|
1 |
|
| Other (eg major seminar paper) |
|
|
|
|
Assessment:
Coursework
There will be one assessment. The assessment will be handed out in week 1 of the Spring Term, to be handed in during week 2 of the Summer Term. It will be based around computerised analyses using EXCEL and specialist risk analysis software, and will be capable of being done in staged parts.
Relative percentage of coursework : 100%
Examinations
None
Requirements for a pass
A mark of 40% in course work
Reassessment arrangements
Reassessment by coursework to be submitted on a predetermined date agreed by the Examination Board. |
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