You will be introduced to economic concepts and theory and to the economic environment in which the private sector, government and public organisations operate. This course is aimed specifically at students of Land Economy and aims to give students a rigorous foundation in economics as well as the intellectual tools to take the applied economics courses in later years of the course.

In the Michaelmas Term, the focus is first on Microeconomics, which continues into the first week of Lent term (16 lectures in total).

Following on from the first part of paper 1, you will focus on Macroeconomics and will learn the application of different analytical tools and models to different timeframes of policy analysis.

This course is taught in the Lent term (16 lectures in total).

You will study constitutional and administrative law, including the European Union, Parliament, the Executive, the public sector, the Human Rights Act and Judicial review. You will focus on and understand the constitutional and legal foundations and basis of political, public institutional and administrative practice in the modern British state, within its wider context and in its impact upon citizens (through judicial review and the Human Rights Act).

The course is also an introduction to legal method and problem solving through the analysis of statutory texts and reported cases and to comparative law.

The course aims to provide students with a toolbox of basic mathematical, statistical and legal techniques, so that they will be of use for papers across all three years of the Tripos. In doing so, the course also seeks to build student confidence both in applying mathematical tools to problems relevant to the study of Land Economy and in handling different forms of quantitative data. Students will also develop familiarity with the data handling and statistical capabilities of Microsoft Excel.

You will learn about major economic, demographic, institutional, and technological changes and their impact upon the natural and built environments. You will be taught to understand how analytical approaches to the study of land, development and sustainability have developed over time. How the origins and relevance of current schools of thought in urban and regional economics, natural resource and environmental economics, and real estate economics and finance.

Finally, you will gain an understanding of the value of multi-disciplinary approaches to addressing policy issues related to land, its development, and the sustainability of the natural and built environments.

You will be introduced to the theory and practice of environmental economics and international and EU environmental law; the creation and implementation of environmental policy; and urban and rural environmental management. This paper aims to develop in students the capacity to analyse environmental challenges within economic and legal frameworks and the tools to develop and implement sustainable environmental policy.

You will learn methods of financial and investment analysis used in corporate and real estate business and policy decisions. You will be provided with an understanding of corporate finance theory and practice with a focus on real estate finance & investment markets developing analytical skills for financial management and corporate policy decision making.

This paper explores theories relating to regional growth, and the analysis of local and regional policies designed to influence patterns of growth and development. You will be taught to understand and apply economic theories to the study of local and regional problems and the respective roles of market mechanisms and policy interventions.

This paper aims to give you an understanding of the principles of title to land in England and Wales, encompassing both the formal and informal means of acquiring title (ownership) of land and questions relating to its sale or transfer.

You will learn the effect of transfers of ownership on the rights and interests in that land (including those informally acquired). The paper starts with the essence of property rights and then turns to the reforms of property law in 1925 and 2002. It considers how economic and social changes have required further reform. Recent legislation and the further reform of property law are considered.

The overall aim is to present land law as a coherent system within a practical context.

This course aims to introduce you not only to the content of fundamental legal topics such as tort law and contract law, but also to deepen your understanding of common law reasoning. You will be expected to show competence in the techniques of common law reasoning, although there will also be opportunities to think about law in a broader context and to take a critical stance towards established doctrines.

This Paper aims to examine the history, theories and key characteristics of the built environment in relation to the development of cities and societies. The Paper is expected to equip you with 1) a multi-disciplinary perspective for appreciating the complexity of the built environment, and 2) the basic theoretical and analytical approaches for identifying and evaluating key factors and processes that shape the built environment.

You will learn the economics of land markets and policies for public intervention in land markets, urban economics, the economics of housing and housing policy, and commercial property. The course will provide you with an understanding of the economics of cities, especially the principles that underlie the inter and intra-urban organisation of economic activity, city growth and decline and finally an understanding of the economic rationale for and consequences of intervention in land and housing markets and urban areas.

This Paper consists of an introduction to basic concepts and techniques in the growing body of literature on law and economics and a study of the application of economic analysis in a number of specific subject areas. You will learn the relationship between the disciplines of law and economics, including economic theories and analysis of law, behavioural economics, the part played by economic theory in legal reasoning, the role of law in allocating resources and in correcting market failures, and economic and legal theories of value and compensation.

This paper considers the law of landlord and tenant in England and Wales. First, it deals with the common law concerning the creation and operation of leases, the contractual relationship of landlord and tenant and the rights and obligations of the parties to leases, including remedies for breach. Secondly, it analyses the statutory regulation of residential and business leases, considering both public sector and private sector leases.

This paper explores the legal and institutional arrangements, procedures, policies, methods and practices of the statutory system of town and country planning in the UK. The course has a practical bias, drawing upon case studies in lectures and supervision assignments. You will gain an understanding on the rationale for planning in the UK, the legal and institutional frameworks through which it operates, the interaction between planning policy and practice, the way it relates to theory, and the perceptions of the success or failure of the system.

This course will provide you with an introduction to key topics in real estate investment and finance, developing insights from Papers Four and Six, inter alia.

First, the nature of commercial and residential real estate is explored. Next, you will examine valuation and appraisal methods in real estate and the models and techniques that are used to price property and to assess investment potential. The role of real estate as an investment asset in the mixed asset portfolio is discussed and you will consider the use of real options models in developing an understanding of property market processes.

In Lent, you will examine real estate debt and borrowing and its relationship to risk and return, you will look at the economic drivers of real estate performance and the cyclical nature of property markets and finish by examining how investors can understand the risks inherent in their real estate portfolios and measure fund performance.

This paper examines patterns of ownership, management and policy relating to rural land and its uses, particularly in the UK. The approach draws concepts and analytical tools from applied and institutional economics, and policy analysis and evaluation. The paper looks at the history and context of contemporary policies and reflects on current debates and future options and prospects. These are currently areas of fundamental debate and opportunity. Building on the applied areas of economics in Part IB, the Paper is concerned with the ways in which institutions, history and culture influence the design and implementation of policy in practice.

This paper will set out and explain the contemporary planning and policy environment in the global south. The key areas that will be explored will be rural-urban migration, industrial policies, land policy, human development, poverty and hunger, environment and sustainability and their relation to global and international development agendas and objectives.

The course is designed as a conceptual introduction to planning issues and policy analysis, bringing together theoretical debate and practical application.