Dr Felipe Carozzi CKK.4.27

This course is compulsory on the MSc in Real Estate Economics and Finance. This course is available with permission as an outside option to students on other programmes where regulations permit.

It is available by arrangement with the teacher responsible as an option to other students on other programmes who have an appropriate academic background and an interest in real estate markets.

The number of students that can be accommodated is limited. If the course is over-subscribed, places will be allocated at the Department’s discretion and a waiting list may be created. For further details, please contact your relevant Programme Coordinator

Background (UG level) in basic statistics is required. Basic or Intermediate courses in econometrics (at the UG level) will be advantageous.

The course aims to introduce students to the analysis of real estate markets from two separate but related perspectives: that of academic empirical research and that of practitioners and professionals. In doing so, the course introduces students to the types of methods, questions and language that are employed in both fields when investigating the operation of Real Estate Markets. It will also introduce students to the types of data available and provide substantive training in econometrics and data science methods for the analysis of this data. Finally, it provides a stepping stone in the development of skills for applied economics research.

In the Department of Geography and Environment, teaching will be delivered through a combination of classes/seminars, pre-recorded lectures, live online lectures, in-person lectures and other supplementary interactive live activities.

This course is delivered through a combination of seminars, workshops and lectures across Autumn Term

This course includes a reading week in Week 6 of Autumn Term and Week 6 of Winter Term. 

There is no course text. Specific readings (papers and textbook chapters) will be provided in class. Readings on econometric methods will be mostly based on the following texts:

1) Angrist, J. D., & Pischke, J. S. (2014). Mastering'metrics: The path from cause to effect. Princeton university press.

2) Angrist, J. D., & Pischke, J. S. (2008). Mostly harmless econometrics. Princeton university press.

3) Wooldridge, J. M. (2015). Introductory econometrics: A modern approach. Cengage learning.

Essay (100%, 3000 words).

The course is assessed with a 3,000 word research project identifying a research problem in real estate markets on a specific issue (e.g., ‘Does Mortgage Credit Supply Affect House Prices in Spain?’, ‘Are Council Tax Differentials Capitalised into Housing Prices?’, ‘Which Side of Beijing-Tianjin High-Speed Railway Benefits Most in terms of Housing Prices?’) which will require the student to investigate data sources and implement quantitative methods in order to provide a suitable answer. Students should discuss their intended topics with their academic advisors and the teachers responsible.