In a competitive international business environment, real estate professionals need a sophisticated understanding of finance, economics and law to succeed. The MPhil in Real Estate Finance has been designed to provide rigorous training in the latest concepts from these three key areas as applied to international real estate markets.
The course is aimed at those who may already have some experience or interest in real estate markets, banking or investment and wish to upgrade their skills or for those who are looking to commence a career in this area. The programme offers an opportunity to study theoretical and practical finance, investment and law applied to global commercial real estate markets, while enjoying the cultural, social and recreational facilities of Cambridge. The course takes students from a wide variety of backgrounds: finance, geography, economics, law, biology, international business, mathematics. These students have in common a strong desire to work in property and investments coupled with strong academic skills.
Tuition in the programme is based around classroom lectures, case studies and field trips to ensure students can apply the theoretical concepts taught. The programme can also serve as an entry point into PhD training for those interested in pursuing research in real estate finance in greater depth.
MPhil courses offered by the Department of Land Economy share common aims. These are:
i) to enable students of a high calibre to pursue their education at an advanced applied level drawing on the primary disciplines of economics, planning and environmental policy, with additional specialisms in finance and law;
ii) to provide students with opportunities both to build on and develop material which they may have studied at undergraduate level as well as to broaden their knowledge base;
iii) to equip students with the necessary skills to pursue careers at a high level in a range of areas, including business and finance, civil service, public service, property professions, environmental agencies and organisations, national/international agencies and further study;
iv) to provide opportunities for education in a multidisciplinary environment so as to advance the understanding of cognate disciplines and their applications;
v) to provide opportunities for learning with colleagues from different social, economic and legal systems;
vi) to provide students with appropriate skills and experience to enable them to use information and resources critically and to equip them with the means to undertake their own research;
vii) to provide an educational environment with a strong research ethos that brings together students from a wide variety of backgrounds and fosters an international approach to common problems.
On completion of the course, students will have acquired the following skills: i) Knowledge and understanding of the subject matter of the various components of their course.
ii) Intellectual skills: the ability to study steadily, assimilate issues and large amounts of literature swiftly, evaluate countervailing positions and to produce succinct arguments to tight deadlines and to engage with those with whom they disagree. Particular methodologies used include: data evaluation, case evaluation, legal analysis, textual analysis, the convergence o theory and empirical data and advanced critical evaluation.
iii) Practical skills: identification and use of bibliographic materials, via libraries and electronically; taking notes effectively, thorough IT skills.
iv) Transferable skills: the ability to communicate effectively both orally and in writing; to work to deadlines and under pressure; to manage time; to set priorities; to formulate an argument; to work independently and with initiative; basic IT skills (email, data analysis and internet use); critical analysis; to present material in a seminar context; skills of analysis and interpretation; self-discipline, self-direction; and respect for other views. The ability to develop and present a major piece of written work.
v) Research skills: the ability to locate, utilise and organise a wide range of materials independently, on paper and electronically. The ability to assess and evaluate such material, to develop and pursue a critique of existing material. The ability to develop, structure and sustain a line of argument. The establishment of relationships with researchers in related areas. The ethical use of research material.
vi) Communication skills: the ability to marshal arguments and present them succinctly and lucidly. The ability to effectively criticise the views of others powerfully but fairly. The presentation of written material in a persuasive and coherent manner.
vii) Interpersonal skills: the ability to work with others in seminars and smaller groups towards common goals. The ability to share research data ethically. The ability to respect the views of others and to acknowledge deficiencies in one's own argument.
Candidates study a total of eight modules, some of which are compulsory, and submit a 12,000 word dissertation.
The modules offered for this course are confirmed on an annual basis but may include: - Quantitative research methods I - Introduction to real estate finance - Real estate securities, securitisation and investment - Private real estate investment - Real estate development - Legal issues in land use and finance - The macroeconomy and housing - Real estate project modelling and decision methods - Urban and environmental planning - Spatial economics
Plus optional modules from other taught MPhil courses offered by the Department of Land Economy.
Continuation to the PhD degree - Approval of an application to continue to the PhD degree will depend on three criteria:
1. Availability of a supervisor 2. The approval by the Degree Committee of a research proposal 3. The achievement of a minimum overall mark and minimum dissertation mark in the MPhil Examination as prescribed by the Degree Committee in any offer of admission