CRP341 URBAN ECONOMICS
| Course Code: | 1210341 |
| METU Credit (Theoretical-Laboratory hours/week): | 3 (3.00 - 0.00) |
| ECTS Credit: | 4.0 |
| Department: | City and Regional Planning |
| Language of Instruction: | English |
| Level of Study: | Undergraduate |
| Course Coordinator: | Assoc.Prof.Dr. ÖZGÜL BURCU ÖZDEMİR SARI |
| Offered Semester: | Fall Semesters. |
Course Objectives
Throughout this course, students develop an understanding of value formation in land and property as a consequence and determinant of human activities in a free market economy, and recognize explanations of why and how it may vary in space and time. They also develop an expertise to measure the level of value, and to manipulate it through physical planning, correlating it to other control means like taxation, rent control, and constraints imposed by means of the institution of ownership.
Course Content
Economic theory and purposes of urban planning; functions of urban planning in market economies. Formation and distribution of value in the physical environment; approaches in the explanation of rent relations; measurement of value in urban land and property. Behavioral patterns in property markets; investment, development, renewal and rehabilitation decisions. Planning decisions to monitor values and behavior in property markets; implications of development rights, tenure forms, rent control and `other channels of control`.
Course Learning Outcomes
By the end of this course, the students will be able to develop an expertise of calculating the consequences of physical development and planning decisions. The student could master a capacity to establish the feasibility of any development investment, changes in land-use patterns, and carry out calculations of flows of return, break-even points, timing of redevelopment decisions, comparative analyses of different development investment options, and construct long-term strategies for efficient property management.
Program Outcomes Matrix
| Level of Contribution | |||||
| # | Program Outcomes | 0 | 1 | 2 | 3 |
| 1 | Knowledge and internalization of the concepts of social responsibility and public interest | ✔ | |||
| 2 | Giving priority to these concepts in planning and practice | ✔ | |||
| 3 | Commitment to professional ethics and values | ✔ | |||
| 4 | Capacity to independently carry out individual tasks and studies | ✔ | |||
| 5 | Ability to work as a responsible team member as well as a leader in team works | ✔ | |||
| 6 | Professional competency to carry out plans and projects with the utmost quality | ✔ | |||
| 7 | In the fields of planning and design: * Knowledge of planning theories * Ability to integrate theory and practice * Competency in problem definition, critical approach, and usage of analysis methods and techniques * Skills of inter-disciplinary and multi-dimensional thinking, analysis, synthesis, implementation, and development of alternative plans and design solutions | ✔ | |||
| 8 | In both Turkish and English: * Knowledge of professional terminology * Ability to carry out and present original studies * Skills of expressing oneself | ✔ | |||
| 9 | Lifelong learning skills and attributes | ✔ | |||
| 10 | Competency in process design and management | ✔ | |||
0: No Contribution 1: Little Contribution 2: Partial Contribution 3: Full Contribution