The Economics of Housing

The Economics of Housing

Year: This course will not run in 2018-19.
Course code: ECON4024
Course credits: 15
Taught: Semester 1
Course co-ordinatorJeanette Findlay
Entry requirements: Normally admission to an honours programme in Economics.
Available to visiting students:Yes
Contact from more information: Gillian Weir

Course description

This course is an applied microeconomic course that contains a detailed examination of all three tenures within the housing market.  Models of housing demand and supply will be examined and linked to the institutional and legal framework of the various parts of the UK.  The nature of housing as a good and its relationship to other goods and markets (such as the mortgage finance market and the labour market) will be examined, as will the main drivers of the housing market.  Finally, the relationship between the housing market and the wider macroeconomy will be considered.

Learning and teaching methods

20 hours of lectures (10 x 2 hours), Wednesday, 09:00-11:00

Course texts

  • Green, R.K. and Malpezzi, S. (2003). A Primer on U.S. Housing Markets and Housing Policy, Washington, DC: Urban Institute Press.
  • Muth, R.F. and Goodman, A.C. (2002). The Economics of Housing Markets, London: Routledge.
  • O’Sullivan, T. and Gibb, K. (eds.) (2003). Housing Economics and Public Policy, Oxford: Blackwell.
  • Oxley, M (2004), Economics, Planning and Housing, Palgrave McMillan, New York

Assessment

An essay of 2,000 words (30%)
A 2-hour degree exam in April/May (70%)