GY458 Half Unit
Real Property Market Practice
This information is for the 2025/26 session.
Course Convenor
Dr Felipe Carozzi
Availability
This course is compulsory on the MSc in Real Estate Economics and Finance. This course is available with permission as an outside option to students on other programmes where regulations permit. This course uses controlled access as part of the course selection process.
How to apply: Priority: MSc Real Estate Economics and Finance. Priority is typically for students enrolled in Geography and Environment programmes, or joint degree programmes, however course specific availability is indicated via the 'Availability section' on the LSE course guide webpages. Guidance on how to apply to individual controlled access courses can also be found on LSE for You in the Graduate Course Selection system.
Please note: The number of students that can be accommodated is limited. If a course is over-subscribed, places will be allocated at the Department's discretion and a waiting list may be created. It is advised to have an alternative course in mind as a back-up in case you are unable to secure your first-choice course selection.
Deadline for application: Further guidance and information on course selection for Geography and Environment courses (GY4xx) will be available on the Geography and Environment Course Selection Moodle page which will go live from Monday 8 September and will be updated with course availability information daily throughout the course selection period. This page includes information on the timeline for course selection decisions in the Geography and Environment Department as well as the individual course application processes and requirements
A list of all taught master's courses in this Department are listed on LSE's course guide webpages.
For queries contact: geog.reef@lse.ac.uk
It is available by arrangement with the teacher responsible as an option to other students on other programmes who have an appropriate academic background and an interest in real estate markets.
The number of students that can be accommodated is limited. If the course is over-subscribed, places will be allocated at the Department’s discretion and a waiting list may be created. For further details, please contact your relevant Programme Coordinator
Requisites
Additional requisites:
Background (UG level) in basic statistics is required. Basic or Intermediate courses in econometrics (at the UG level) will be advantageous.
Course content
The course aims to introduce students to the analysis of real estate markets from two separate but related perspectives: that of academic empirical research and that of practitioners and professionals. In doing so, the course introduces students to the types of methods, questions and language that are employed in both fields when investigating the operation of Real Estate Markets. It will also introduce students to the types of data available and provide substantive training in econometrics and data science methods for the analysis of this data. Finally, it provides a stepping stone in the development of skills for applied economics research.
Teaching
In the Department of Geography and Environment, teaching will be delivered through a combination of classes/seminars, pre-recorded lectures, live online lectures, in-person lectures and other supplementary interactive live activities.
This course is delivered through a combination of seminars, workshops and lectures across Autumn Term
Indicative reading
There is no course text. Specific readings (papers and textbook chapters) will be provided in class. Readings on econometric methods will be mostly based on the following texts:
1) Angrist, J. D., & Pischke, J. S. (2014). Mastering'metrics: The path from cause to effect. Princeton university press.
2) Angrist, J. D., & Pischke, J. S. (2008). Mostly harmless econometrics. Princeton university press.
3) Wooldridge, J. M. (2015). Introductory econometrics: A modern approach. Cengage learning.
Assessment
Essay (100%, 3000 words)
The course is assessed with a 3,000 word research project identifying a research problem in real estate markets on a specific issue (e.g., ‘Does Mortgage Credit Supply Affect House Prices in Spain?’, ‘Are Council Tax Differentials Capitalised into Housing Prices?’, ‘Which Side of Beijing-Tianjin High-Speed Railway Benefits Most in terms of Housing Prices?’) which will require the student to investigate data sources and implement quantitative methods in order to provide a suitable answer. Students should discuss their intended topics with their academic advisors and the teachers responsible.
Research projects should include a submission of estimation codes, the data used in the final estimation and a log-file or some other source that allows markers to check that the statistical output corresponds to the results reported in the submitted report. Students who use restricted access data (data that cannot be shared with the LSE) need to submit a document including a description of the dataset, the source of the data provided and an active contact point with the institution that provided the data which enables markers to confirm the data was indeed provided under restricted access agreement. Estimation files exceeding 120Mb in size need to be submitted separately. Students using this type of large dataset in estimation should submit a form indicating how they can make the data available to markers after submission.
Key facts
Department: Geography and Environment
Course Study Period: Autumn Term
Unit value: Half unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: 53
Average class size 2024/25: 13
Controlled access 2024/25: NoCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Personal development skills
- Self-management
- Team working
- Problem solving
- Application of information skills
- Communication
- Application of numeracy skills
- Specialist skills