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Module

TCP1019 : Economics of Development I

  • Offered for Year: 2021/22
  • Module Leader(s): Mr Aidan Oswell
  • Owning School: Architecture, Planning & Landscape
  • Teaching Location: Mixed Location
Semesters
Semester 2 Credit Value: 10
ECTS Credits: 5.0

Aims

• To introduce students to economic principles and their application to planning and property development.
• To introduce students to development financing and valuation, including public and private financial systems.

The Economics of Development module helps students develop a range of analytical tools to improve their understanding of planning and development processes. Although the module builds on economic principles, no previous study of economics is required. Basic theory and application are covered early in the course with later sessions building on these foundations. On completion of the module, a clear understanding of both the theory and practical application of economics to planning and development processes will have been developed. Student satisfaction with the course is consistently high, with many reporting that they have effectively applied skills gained here to work set elsewhere within the degree programme.

Outline Of Syllabus

•       Module Induction and Introduction
•       The Structure of the Macro Economy.
•       When Markets Fail.
•       First Principles in the Economics of Development – Land.
•       First Principles in the Economics of Development – Property.
•       The Economics of the Property Development Process – Investment Appraisal.
•       The Economics of the Property Development Process: Investment Constraints.
•       Private and Public Financing of Development.
•       Introduction to the Economic Environment
•       The Planning System in Action.
•       Review/Revision Session

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Structured Guided LearningLecture materials300:3015:00Standard podcast style lecture material
Guided Independent StudyAssessment preparation and completion124:4024:40Reading and research specifically focussed on assessment preparation and completion.
Structured Guided LearningStructured research and reading activities100:020:20Short two minute trailer videos setting out topic and reading for the week ahead
Structured Guided LearningStructured research and reading activities127:0027:00Reading as set out in both the video and VLE containers
Scheduled Learning And Teaching ActivitiesWorkshops112:0022:00Weekly timetabled 2 hour PiP sessions (66% of total contact hours)
Scheduled Learning And Teaching ActivitiesScheduled on-line contact time111:0011:00Zoom workshop sessions (33% of total contact hours)
Total100:00
Teaching Rationale And Relationship

The Structured Guided Learning Activities provide a detailed explanation of the key issues and an examination of important literature. The Scheduled Learning and Teaching Activities provide support for discussions about the relationship of the content to planning issues. The Guided Independent Study will enable students to both achieve the intended knowledge and skills outcomes identified for the module, as well as enabling to help them prepare for the creation of their assessment submission.

Assessment Methods

The format of resits will be determined by the Board of Examiners

Other Assessment
Description Semester When Set Percentage Comment
Essay2M1001,500 word essay
Assessment Rationale And Relationship

The Structured Guided Learning Activities provide a detailed explanation of the key issues and an examination of important literature. The Scheduled Learning and Teaching Activities provide support for discussions about the relationship of the content to planning issues. The Guided Independent Study will enable students to both achieve the intended knowledge and skills outcomes identified for the module, as well as enabling to help them prepare for the creation of their assessment submission.

Reading Lists

Timetable