Economics and Cities (PROP10001)

Undergraduate level 1Points: 12.5Dual-Delivery (Parkville)

You’re viewing the 2022 Handbook:
Or view archived Handbooks
You’re currently viewing the 2022 version of this subject
Subjects taught in 2022 will be in one of three delivery modes: Dual-Delivery, Online or On Campus.
From 2023 most subjects will be taught on campus only with flexible options limited to a select number of postgraduate programs and individual subjects.
To learn more, visit COVID-19 course and subject delivery.

Overview

Availability
Semester 2 - Dual-Delivery
FeesLook up fees

This subject will allow students to gain an understanding of the development of cities, land use, land values, role of planning, property rights and property ownership within an economic context. Students will learn to apply principles of neoclassical and institutional economics to the dynamic interrelationship between the economy and the built environment of city. Students will learn about the role of governmental and other institutions: through an analysis of land and property market outcomes and through an economic critique of legislation affecting land and property markets. The subject also introduces students to emerging discourses on equitable and sustainable cities. 

This subject will provide a lens on the University’s Joining Melbourne Modules. These will be completed in parallel to the subject - unless already successfully completed. It will also support the Discovery goals for commencing students by introducing emerging concepts and research in the discipline area; ways to connect with the larger University community including peers, teachers and student groups; and awareness of academic expectations, and of wellbeing support offered at the University of Melbourne.

Intended learning outcomes

Having completed this subject it is expected that the student be able to:

  • Apply principles of economics to explain the development of cities and their built environment;
  • Apply firm theory to explain the behaviour of economic agents (such as landlords, developers) in land and property markets;
  • Apply the economic concepts of demand, supply, and market equilibrium to explain the outcomes for cities in terms of spatial location of economic activities, pattern of land uses and land values;
  • Identify and interpret economic data relevant to land and property markets to test various hypotheses related to urban outcomes;
  • Differentiate between the role of the market and government agencies in determining the outcomes for cities;
  • Familiarise themselves with emerging discourses on equitable and sustainable cities;
  • Explain land and property market outcomes using economic theories to both experts and non-experts;
  • Demonstrate an understanding of the Joining Melbourne Modules, and the learning outcomes of these, in relation to this subject's content and learning activities.

Generic skills

Upon successful completion of this subject students will have had the opportunity to develop the following generic skills:

  • Analytical skills - an enquiring and analytical approach to the determination of appropriate property economic decisions;
  • Communication skills - an enhanced ability to communicate property market data through written and oral presentations;
  • Problem solving skills - an increased body of knowledge associated with resolution of contemporary issues and practices in Property

Last updated: 9 April 2025

Eligibility and requirements

Prerequisites

None

Corequisites

None

Non-allowed subjects

None

Inherent requirements (core participation requirements)

The University of Melbourne is committed to providing students with reasonable adjustments to assessment and participation under the Disability Standards for Education (2005), and the Assessment and Results Policy (MPF1326). Students are expected to meet the core participation requirements for their course. These can be viewed under Entry and Participation Requirements for the course outlines in the Handbook.

Further details on how to seek academic adjustments can be found on the Student Equity and Disability Support website: http://services.unimelb.edu.au/student-equity/home

Last updated: 9 April 2025

Assessment

DescriptionTimingPercentage

Assessment 1: Multiple choice quiz on the principles of economics.

  • 1 hours
Week 525%

Assessment 2: Report comparing the outcomes of land and property markets for cities.

  • 1500 words (each)
Week 1037.5%

Assessment 3: Report to critically review equity and sustainability of cities.

  • 1500 words
Week 1437.5%

Last updated: 9 April 2025

Dates & times

  • Semester 2
    Principal coordinatorJyoti Shukla
    Mode of deliveryDual-Delivery (Parkville)
    Contact hours1X2 hour lecture and 1X1 hour tutorial per week
    Total time commitment170 hours
    Teaching period25 July 2022 to 23 October 2022
    Last self-enrol date 5 August 2022
    Census date31 August 2022
    Last date to withdraw without fail23 September 2022
    Assessment period ends18 November 2022

    Semester 2 contact information

    Subject Coordinator

    Jyoti Rao

    jyoti.rao@unimelb.edu.au

     

Time commitment details

170 hours

Last updated: 9 April 2025

Further information

Last updated: 9 April 2025