This course aims to provide students with knowledge and techniques to formulate and solve models in modern urban and real estate economics. Emphasis will be placed on models which generate testable implications and carry important policy implications. In the term project, students are expected to be able to critically evaluate the existing literature, or even propose new research possibilities. In the final examination, students are expected to solve economic models, which are variants of the existing literature, and to relate the implications of those models to the empirical stylized facts. The course will strengthen students' discovery skills when they examine issues related to demographic trends, changing economic activities, financial market volatility and local government behavior as they affect the real estate markets. The project presentation and examinations will reflect their accomplishments in discovery and innovation.

The essay questions in final examination will help students integrate theories and concepts and develop their problem solving skills. The final examination emphasizes the applications of their analytical skills. This reflects the accomplishments of discovery and innovation.

The topic of the group projects must be based on scenarios related to current issues and will develop students' ability in making use of information they collected for analysis.

Students are required to pass both coursework and examination components in order to pass the course.