TCP1019 : Economics of Development I

Semester 2 Credit Value: 10
ECTS Credits: 5.0


1. To introduce students to the principles of economics and their application to planning and property development.
2. 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

Theme 1: The Structure of the Macro Economy.
Theme 2: When Markets Fail.
Theme 3a: First Principles in the Economics of Development – Land.
Theme 3b: First Principles in the Economics of Development – Property.
Theme 4a: The Economics of the Property Development Process – Investment Appraisal.
Theme 4b: The Economics of the Property Development Process: Investment Constraints.
Theme 5: Private Financing of Development.
Theme 6: Public Financing of Development.
Theme 7: The Planning System in Action: Newcastle upon Tyne.
Theme 8: Review/Revision Session

Teaching Methods

Teaching Activities
Category Activity Number Length Student Hours Comment
Guided Independent StudyAssessment preparation and completion126:0026:00N/A
Scheduled Learning And Teaching ActivitiesLecture122:0024:00N/A
Guided Independent StudyDirected research and reading126:0026:00N/A
Guided Independent StudyIndependent study124:0024:00N/A
Teaching Rationale And Relationship

Emphasis on lectures and private study encourages the student to acquire the knowledge base. Use of exercises and practical examples in lectures develops skills and checks development of understanding.

Assessment Methods

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

Description Length Semester When Set Percentage Comment
Written Examination602A100Section 1 - 25 mandatory multiple choice questions (no negative marking). Section 2 - answer 1 from 2 data response questions
Assessment Rationale And Relationship

Exam tests breadth and understanding of principles and frameworks, plus a more detailed knowledge of project appraisal

Reading Lists