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374016: Real Estate and Land Economics
MGMT-X 476.15

  • Summer 2020
  • Section 1
  • 4 Credits
  • 06/22/2020 to 08/31/2020
  • Modified 06/29/2020


This course covers the economic foundations of real estate value, as well as location theory; the economics of spatial patterns--the forces that shape cities and influence the real estate industry and land uses; and theories of growth and decay of local areas, cities, and regions. Other topics include real estate cycles, business fluctuations, and identification of specific urban land use and land values.


Upon successful completion of the course the student will be able to 

  1. Demonstrate an understanding of supply and demand forces
  2. Apply property productivity analysis using highest and best use decisions
  3. Analyze regional and local market trends
  4. Identify competitive, complementary and interim uses
  5. Understand the dynamics of real estate development
  6. Understand CA Property Tax Proposition
  7. Reconstruct operating income statements and perform cash flow analysis


Essentials of Real Estate Economics

  • Author: Richard M. Betts and Monte Cicino
  • Publisher: OnCourse Learning, Format: Paperback 564 pages 
  • Edition: 7th, 2019
  • ISBN: 978-1-62980-197-1
  • Availability: Campus Bookstore, Amazon, Publisher

Required Supplies and Software

A computer installed with Microsoft Office including PowerPoint, internet connection and proficiency using Microsoft Office (Word, Excel & PowerPoint) are required.  Note: Term paper City Project must be uploaded as a word or pdf document and the presentation as a PowerPoint Presentation or a pdf file.  Also required are Adobe Acrobat Reader, a calculator or calculator app and the ability to conduct targeted research via internet, local newspapers and trade publications. The following browsers are highly recommended: Firefox and Chrome.


Students must complete two Case Study problems and write a short paper on CA Property Taxes.  Additionally, there will be a City Project term paper and a live in class presentation of this research paper will be required.  This will demonstrate that you can do original research, write about it and are able to present and answer questions in front of a live audience.



Types of evaluations and related weights
Type Weight Topic Notes
City Project term paper 20%

City Project term paper and PowerPoint Presentation

PowerPoint presentation 10%

Live PowerPoint presentation in class or live online of your City Project term paper

Case Studies 15%

Case Studies (Rent Stabilization, Cash Flow Analysis ), CA Property Tax paper

Midterm 25%

Fifty Questions Multiple Choice (100 minutes online CANVAS)

Final Exam 30%

Sixty Questions Multiple Choice (120 minutes online CANVAS)


100 %
to 95.0%
< 95.0 %
to 90.0%
< 90.0 %
to 87.0%
< 87.0 %
to 84.0%
< 84.0 %
to 80.0%
< 80.0 %
to 77.0%
< 77.0 %
to 74.0%
< 74.0 %
to 70.0%
< 70.0 %
to 1.0%

Students are expected to come to live class on time, read chapters in advance, complete projects on time, take quizzes, midterm and final exams in Canvas and participate in the discussion board topics and in class. 

Late Assignments (50% credit maximum)

Institutional Policies

Student Conduct

Students are subject to disciplinary action for several types of misconduct or attempted misconduct, including but not limited to dishonesty, such as cheating, multiple submission, plagiarism, or knowingly furnishing false information to the University; or theft or misuse of the intellectual property of others or violation of others' copyrights. Students are encouraged to familiarize themselves with policy provisions which proscribe these and other forms of misconduct at:

Services for Students with Disabilities

In accordance with the Americans with Disabilities Act of 1990, UCLA Extension provides appropriate accommodations and support services to qualified applicants and students with disabilities. These include, but are not limited to, auxiliary aids/services such as sign language interpreters, assistive listening devices for hearing-impaired individuals, extended time for and proctoring of exams, and registration assistance. Accommodations and types of support services vary and are specifically designed to meet the disability-related needs of each student based on current, verifiable medical documentation. Arrangements for auxiliary aids/services are available only through UCLA Extension’s Service for Students with Disabilities Office at (310) 825-7851 or by email at access[email protected]. For complete information see:


Your instructor may post the interim grade Incomplete/I if at the end of the class your overall work is of passing quality but a portion could not be submitted for understandable reasons (e.g. illness). It is your responsibility to petition your instructor for permission to submit work late and to provide an explanation, and it is his or her sole decision whether to accept the explanation. If permitted, the Incomplete/I grade will be posted and a time frame defined for you to submit the missing work, ranging from one to twelve weeks. Incomplete/I grades that remain unchanged after twelve weeks will lapse to F, NP or U. Receiving an I grade entitles you to submit only the missing work your instructor has agreed to accept late, and does not allow other work to be retaken or oblige UCLA Extension to provide continuing access to course materials via Canvas. The Incomplete/I grade is not an option for courses that do not bear credit, such as 700, 800, or 900-level courses. For complete information, see:

All Grades are Final

No change of grade may be made by anyone other than the instructor, and then, only to correct clerical errors. No term grade except Incomplete may be revised by re-examination. The correction of a clerical error may be authorized only by the instructor of record communicating directly with personnel of Student and Alumni Services.

Sexual Harassment

The University of California is committed to creating and maintaining a community where all individuals who participate in University programs and activities can work and learn together in an atmosphere free of harassment, exploitation, or intimidation. Every member of the community should be aware that the University prohibits sexual harassment and sexual violence, and that such behavior violates both law and University policy. The University will respond promptly and effectively to reports of sexual harassment and sexual violence, and will take appropriate action to prevent, to correct, and when necessary, to discipline behavior that violates our policy.

All Extension students and instructors who believe they have been sexually harassed are encouraged to contact the Department of Student and Alumni Services for complaint resolution: UCLA Extension, 1145 Gayley Ave., Los Angeles, CA 90024; Voice/TTY: (310) 825-7031. View the University’s full Policy on Sexual Harassment and Sexual Violence at

Additional Items

Protecting Privacy and Data During Remote Instruction

This class/meeting is being conducted over Zoom or Conference Room Adobe Connect. As the host, I may be recording this session. The recording feature for others is disabled so that no one else will be able to record this session. No recording by other means is permitted. This session will be posted on the Canvas class website unless otherwise notified. If you have privacy concerns and do not wish to appear in the recording, do not turn on your video. If you also prefer to use a pseudonym instead of your name, please let me know what name you will be using so that I know who you are during the session. If you would like to ask a question, you may do so privately through the Zoom chat by addressing your chat question to me only (and not to ""everyone""), or you may contact me by another private method. If you have questions or concerns about this, please contact me.

Pursuant to the terms of the agreement between the vendors (Zoom/AdobeConnect) and UCLA Extension, the data is used solely for this purpose and the vendor is prohibited from re-disclosing this information. UCLA Extension also does not use the data for any other purpose. Recordings will be deleted when no longer necessary. However, the recording may become part of an administrative disciplinary record if misconduct occurs during a video conference.

Course and Instructor Evaluation

UCLA Extension values your feedback on course and instructor evaluations. We ask all students to take a few minutes to complete an end-of-course evaluation survey. Updates to the course and instruction are influenced by your feedback. Understanding your student experience is essential to ensure continuing excellence in the online classroom and is appreciated by your instructor and the UCLA Extension academic leadership.

Your participation in a survey is voluntary, and your responses are confidential. After instructors submit grades, they will be given an evaluation report, but this report will not contain your name.

About Your Online Course Materials

Please note the following about online course components at UCLA Extension:

  • Students must have basic computer skills, including the use of word processing software, email, and the ability to use internet browsers, such as Safari, Firefox, or Chrome.
  • Students are responsible for meeting the technical requirements of Canvas and familiarizing themselves with the Canvas Learning Management System.
  • Students are responsible for keeping a copy of all assignments and work submitted, and to be aware of all assignments, due dates, and course guidelines.
  • Students are encouraged to keep and/or download a local copy of their assignment files, as access to the online environment of a specific course is limited to 30 days after the final course date, as listed in the course catalog.

    To download all your assignment submissions in Canvas, please refer to the online support guide. for more information or contact Canvas Support via the help menu within Canvas.

UCLA Extension Canvas and Learning Support

For immediate 24/7 Canvas technical support, including holidays, click on Help (located on the menu to the left) where you can call or chat live with a Canvas Support representative.

UCLA Extension Instructional Design and Learning Support
The UCLA Extension Learning Support staff assists both students and instructors with Canvas-related technical support, as well as general and administrative questions.

Learning Support staff is available Monday through Friday, from 8 AM to 5 PM (Pacific Time), except holidays:

Campus Safety Escorts

For students taking classes held on the UCLA campus and in and around Westwood Village, the UCLA Police Department provides a free walking escort service every day of the year from dusk until 1 a.m. Community Service Officers (CSOs) are available to walk students, faculty, staff members and visitors to and from anywhere on campus, in Westwood Village, and in the village apartments. CSOs are uniformed students who have received special training and are employed by the UCLA Police Department. To obtain an escort, please call (310) 794-9255 and allow 15 to 20 minutes for your escort to arrive. For complete information, see:


Midterm and Final Exams will be done online in Canvas.

All papers and presentation assignments will be uploaded into CANVAS  

For Help with Canvas

Meeting Dates and Location



Do Quizzes in textbook

Readings Chapter #/Topics, 

Due Dates for  Exams and Assignments

June 22, Monday

Live Stream with

6:30 - 9:30 PM

Get textbooks, 

Log into Canvas,

Chapter Quiz #1 

#1 Introduction to Real Estate Economics & Economic Principles of Capitalism

June 29, Monday

Live Stream with

6:30 - 9:30 PM


Chapter Quiz #2 & #3

Rent Stabilization Case Study


#2 Government’s Role in the Economy

#3 Money, Credit and Real Estate

 July 6,  Monday

Live Stream with

6:30 - 9:30 PM

Chapter #5  Quiz

#4) Important Economic Features of Real Estate

July 13, Monday

Live Stream with

6:30 - 9:30 PM

Chapter #6 & #7 Quizzes

Start research: City Project for your essay & presentation


#5 Regional and  Community Analysis

#6 Community Growth Patterns

Rent Stabilization 

Due, Sunday July 19, 11:59 PM 

Upload into CANVAS

July 20, Monday

Live Stream with

6:30 - 9:30 PM 

Chapter #7 quiz

# 7  Neighborhoods: Clusters of Land Use. Value

July 27, Monday

Live Stream with

6:30 - 9:30 PM

Chapter 8 Quiz



Review, Chap. 1-7

 # 8: Housing Markets

Midterm CANVAS (100 min)

Available July 30, 12:00 PM

Midterm due Sunday August 2,

at 11:59 PM

August 3, Monday

Live Stream with

6:30 - 9:30 PM


Chapter #9 Quiz

Chapter #10 Quiz

Instructor will go over midterm exam

# 9: Commercial, Industrial Rural and Recreational Real Estate Markets

# 10 Economics of Real Property Taxation

August 10, Monday 

Live Stream with

6:30 - 9:30 PM


Chapters #11 & 12  Quizzes

# 11: Land-Use Controls

#12 Real Estate Development

CA Property Tax Due, Sunday August  16, 11:59 PM Upload into CANVAS

August 17, Monday

Live Stream with

6:30 - 9:30 PM


Chapter #13 Quiz

Presentations In Class


# 13 Summary of  Real Estate Investment Principles.

Upload Presentations into CANVAS by Sunday August 30, 11:59 PM

August 24, Monday

Live Stream with

6:30 - 9:30 PM

Chapter #14 & 15 Quiz

Pre-Tax Cash Flow Analysis Case Study to be upload, CANVAS

City Project  Presentations to the Class Using Zoom

# 14: Income Tax Aspects of Investment Real Estate

#15 Applied Real Estate Economics

Upload  Essays into CANVAS by Sunday September 6, 11:59 PM

August 31, Monday

Live Stream with

6:30 - 9:30 PM


City Project  Presentations to the Class Using Zoom

Review For Final Exam

Chapter (8-15))

#16 Anticipating  Change

Final Exam CANVAS (120 minutes) Available September 3 at  12:00 PM, due on Sunday Sept 6, 11:59 PM.

Pre-Tax Cash Flow Analysis Due Sunday Sept. 6 11:59  PM Upload into CANVAS