Economics and Cities (PROP10001)

Undergraduate level 1Points: 12.5On Campus (Parkville)

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Overview

Availability
Semester 2
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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 in the context of real-life authentic examples.
  • Describe cities in terms of spatial distribution of economic activities, pattern of land uses and land values using the economic concepts of demand, supply, market equilibrium, substitution, and others.
  • Test hypotheses related to urban outcomes by identifying and interpreting economic data relevant to land and property markets.
  • Explain the behaviour of economic agents (such as landlords, developers) in land and property markets using firm theory.
  • Evaluate land and property market outcomes against economic theories, the role of government agencies and emerging trends in equitable and sustainable development of the society.
  • 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: 14 March 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: 14 March 2025

Assessment

DescriptionTimingPercentage

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

  • 1 hours
Week 520%

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

  • 1600 words (each)
Week 1040%

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

  • 1600 words
Week 1440%

Last updated: 14 March 2025

Dates & times

  • Semester 2
    CoordinatorPiyush Tiwari
    Mode of deliveryOn Campus (Parkville)
    Contact hours1 hour Seminar involving Q&A session and 1 hour Self directed learning and 1 hour tutorial per week
    Total time commitment170 hours
    Teaching period22 July 2024 to 20 October 2024
    Last self-enrol date 2 August 2024
    Census date 2 September 2024
    Last date to withdraw without fail20 September 2024
    Assessment period ends15 November 2024

    Semester 2 contact information

    Subject coordinator

    Piyush Tiwari 

    Email: Piyush.Tiwari@unimelb.edu.au

Time commitment details

170 hours

What do these dates mean

Visit this webpage to find out about these key dates, including how they impact on:

  • Your tuition fees, academic transcript and statements.
  • And for Commonwealth Supported students, your:
       -  Student Learning Entitlement. This applies to all students enrolled in a Commonwealth Supported Place (CSP).
     

    Subjects withdrawn after the census date (including up to the ‘last day to withdraw without fail’) count toward the Student Learning Entitlement.

Last updated: 14 March 2025

Further information

Last updated: 14 March 2025