Teaching

The Urban and Real Estate Economics course is part of the applied economics program at Eötvös University and was inspired by courses taught at MIT or Wharton. Since the course material is highly professional, similarly to MBA programs we also recommend it to specialists in the field. The course grew out of Urban and Real Estate Economics courses that were taught at István Széchenyi College for Advanced Studies and László Rajk College for Advanced Studies.

The goal of this course is to present and analyse the most common economic questions in the real estate market. After completing this course, students should be able to participate in decision making and critically read sectoral analyses. We start with the analysis of the long run trends of the real estate market, i.e. with some basic urban economics. A major part of the course is about the cyclical macro and micro analysis of the real estate sector. The semester ends with real estate project evaluation.

The course presents the analytical tools offered by the relevant economic literature which could be used by real estate developers, investors, or esperts at the municipalities. Most of the examples and exercises are based on Hungarian experiences and data. By the end of the course the students should be familiar with the major participants of the domestic real estate market, institutions and available datasets. The course relies on leading international textbooks and handouts based on Hungarian experience.
 
Below are the slideshows for each lecture
 
1. Real Estate Value
 
 
2. The effect of real estate attributes on the value of real estates
 
 
3. Why do cities exist?
 
 
4. City size
 
 
5. Spatial patterns in cities I: The monocentric city
 
 
6. Spatial patterns is cities II: Even distribution
 
 
7. Spatial patterns in cities III: Further patterns
 
 
8. The macroeconomics of the real estate market: the four-quadrant model
 
 
9. The macroeconomics of the real estate market II: A dynamic model
 
 
10. The macroeconomics  of the real estate market III: Transaction volumes and vacancies
 
 
11.  The macroeconomics  of the real estate market III: Forecasting
 
 
12. Finances of the real estate market: Cash flow evaluation
 
 
13. Finances of the real estate market II: Summarizing the course with respect to real estate market risk
 
 
 
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