PROPERTY ECONOMICS

SHE Level 1
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M1K225354
Module Leader Steven Latta
School School for Work Based Education
Subject SCWBE
Trimesters
  • A (September start)
  • B (January start)
  • C (May start)

Summary of Content

Macroeconomic and microeconomic analysis and its application to the construction and property markets. UK financial and economic institutions in domestic and overseas trade in relation to the property industries. The comparative performance of the UK construction and property markets. Government intervention: goals, measures and achievement; current policy initiatives and their sectoral impact. The percentage of Work Based Learning for this module, as represented by the Independent Learning "Activity Type", is84 %. There is no Work Based Assessment, but reflective learning is encouraged.

Syllabus

The scope and nature of economics and economic analysis. The basic economic problem. Economic systems and their evolution. The market economy and changes in market price for products and resources. The determination of rewards to factors of production. Applications in the property market. The theory of the firm and its relevance in UK and international markets. The organisation of industry: features and trend; markets, productivity, labour force, capital investment, finance and land Definitions, measurement and determination of national income; trends and relationship with the property cycle. Finance and the money supply: forms and sources of money; institutions and their regulation. International trade and finance; the impact of international capital flows for the property and construction industry. Government macroeconomic and microeconomic intervention in the economy: objectives, means and trends.

Learning Outcomes

On completion of this module, the apprentice should be able to:1. Apply an analytical approach to human and organisational behaviour.2. Understand market forces and relationships.3. Supply a context for the study of UK and international industry.4. Prepare and present a formal report/essay.5. Explain the basic economic problem and its implications for individuals and organisations.[A3, A6, B4]

Teaching / Learning Strategy

In the context of a work based ethos, teaching and learning methods use authentic work based scenarios to promote action learning, inquiry based learning, problem based learning and peer learning. These approaches directly involve the apprentice in the process of learning and also encourage collaborative learning. The module will begin with 2 days of introductory seminars to provide the apprentices with a clear understanding of the curriculum and assessment requirements of the module and to engage in question / answers sessions. The remainder of the module is delivered online via GCULearn. The online component is structured using a week by week template and guides the apprentice through the subject learning and assessment requirements of the module. A range of resources such as PowerPoint, Camtasia, video clips, web links and other tailored learning relevant to the module topics are used.. Learners will be supported throughout by the module team. This includes the lecturers, work based / industrial mentors and Academic Development Tutors. Clear sign posting will ensure that module learning outcomes are progressed, reinforced though a carefully mapped formative assessment of concepts / strategies and the application of critical subject matter. This facilitates an evaluation of the level of comprehension attained by the apprentice and also enables the module team to provide support and guidance as required through email, GCULearn announcements, blogs, skype of Collaborate discussions. Summative assessments are compulsory. A mark of 35% must be achieved for each summative assessment and an overall / aggregate mark of 40% must be achieved.

Indicative Reading

Essential texts Grant, S. J., (2000), Stanlake's Introductory Economics 7th edn, Longman, ISBN 0582405483 Manser J. E., (1994), Economics: A Foundation Course for The Built Environment, Taylor & Francis, ISBN 0419182608 Recommended texts Beardshaw J., Brewster D., Cormack P., and Ross A., (2001), Economics: A Student's Guide, Prentice Hall, ISBN: 0273651404 Begg, D., (2013), Foundations of Economics 5th edition, McGraw-Hill Higher Education, ISBN: 0077121880 Biggs W.D., Hillebrandt P. M., and Cannon J., (1990), The Modern Construction Firm, Palgrave Macmillan, ISBN-0333467256 Jowsey E. and Harvey J.;( 2003), Urban Land Economics 6th revised edn. Palgrave Macmillan ISBN 1403900019 Myers D., (2016), Construction Economics 4th Edition, Taylor & Francis, ISBN-10: 0415462290 Sloman J. and Garratt D. ; (2009) Essentials of Economics; FT Prentice Hall ISBN 0273722417

Transferrable Skills

Effective communication: written, graphical and oral Effective use of IT Time management and self-motivation Planning, monitoring, reviewing and evaluating own learning Independent and group working [C1,C2,C3,C5,D1,D3,D4,D5,E1,E5,E6,E7]

Module Structure

Activity Total Hours
Independent Learning (FT) 168.00
Seminars (FT) 12.00
Assessment (FT) 20.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 100.00 35% Coursework