Capstone Case Study

Course Code

CASE820

Program or Programs for which course is part

Master in Real Estate (MRE) Executive Master in Real Estate (E-MRE) Master in Real Estate and Finance (MRE(Fin)) Executive Master in Real Estate and Finance (E-MRE(Fin)) Master in Real Estate and Finance (MRE (Fin)) Semester Abroad Master in Real Estate and International Business (MRE Int-Bus) Master in Real Estate and Marketing (MRE-Mkt) Master in Real Estate and Project Management (MRE-PM)

Level (I, H, or M)

M

Number of Credits

This course carries a weight of 20 credits of the Homburg Academy, which is equal to 10 ECTS (European Credit Transfer System credits).

Learning Time This course requires approximately 200 hours of learning time. This includes all taught and supervised classes and all private study and research.

Stage (I or II, where applicable)

Stage I

Is this Course Core, Specialist or Elective

Core for all programs

Courses that are pre-requisite or co-requisite

This is a summative course. It is therefore intended that students will take this course as the last, or near to the last, course of Part 1.

Name of Course Convenor

This course is supervised by both academics and practitioners in real estate. Where practical, the actual managers and executives involved in the case study under analysis are involved in student mentoring. This can include introducing the case to students, or participating in a Panel of Judges at the end of the course to which students present their group findings.

Brief Course Summary This is a capstone course, meaning that it is intended to be taken as the last course before students undertake their independent research project (the dissertation, or final project). This course is a group simulation of an actual case in real estate that enables students to bring to bear all of their previous course experience on a real-world case in real estate. It is intended that this case study will enable students to appreciate the multiple facets of a real estate development, and the need to call upon a range of different skills that they have learned in their previous courses. In this course, students are presented with a case study about a real-world real estate development. Students are given the ‘facts’ about the case, including the key data that they will need to begin the simulation. Details about the process and the outcome of the actual case are withheld from students until the end. The objective is to enable the students to put themselves in the position of the real estate developer, and to see how they would approach the project. At the end, the real outcome of the case is revealed, and students have the opportunity to compare their decisions and performance in the simulation with the actual outcome of the case. Actual cases are used, usually drawn from extensive interviews and case materials of the Homburg Group of Companies about a complex Real Estate development. Students work in groups, in a supportive environment supervised by academic staff. Students work in teams to develop innovative and imaginative scenarios, and present their work before their peers and a panel of expert academic and professional judges.

Course Objectives This course is intended to enable students to use their subject-specific knowledge as well as knowledge of methodologies through a practical case study, along with a ‘debriefing’ in which students can analyse reflect critically upon their performance in the case, as compared with the actual outcome of the case in the real world. The intended learning outcomes of this course are as follows:

1. To enable students to ‘learn by doing’ by re-creating a real world case study, and working in groups to accomplish a specified goal;

2. To enable students to gain an appreciation of how the substantive courses that they have taken in their Masters program relate to one another through the examination of a real estate development project;

3. To enable students to gain an appreciation of real estate development as a process, including notions of timing and sequencing;

4. To enable students to appreciate the complexity of the issues, as well as the influence of the unplanned, random, and unintended events that an arise during a real estate development project;

5. To enable students to reflect critically on their own learning, and the ways in which the models and

methods in the field of real estate are appropriate, or inappropriate, to aspects of real estate development practice;

6. To develop the transferable skills that will enable students to apply conceptual analysis to a range of situations.

These specific learning outcomes contribute to achieving the learning outcomes of the relevant programs by demonstrating knowledge of the following (mapped to the Program Specification): A. Advanced knowledge and understanding of: 12.A.1: Business strategy in Real Estate and how subject-specific knowledge of different disciplines can be drawn upon to assist strategic business decisions as these relate to the process of Real Estate acquisition, development, management, and the divestiture of Real Estate assets and holdings; 12.A.2: The highly inter-disciplinary nature of Real Estate as a subject of study, and be able to identify the special characteristics of each discipline as they relate to different practices in Real Estate;

12.A.3: The need for sustainable development and the means of gaining sustainability throughout the process of development from planning to design; 12.A.4: How to apply general theoretical and conceptual frameworks to the analysis of specific issues; B. Intellectual skills: 12.B.1: Develop general research skills, especially bibliographic and computing skills in finding, selecting, and analysing materials for the independent project; 12.B.2: Learn to gather, organise and deploy evidence, data and information from a variety of secondary and some primary sources; 12.B.4: Learn to identify, investigate, analyse, formulate and advocate solutions to problems; 12.B.5: Develop problem solving skills, including the ability to identify and define problems, and to establish strategies for dealing with them including criteria for success, mapping optimum and alternative solutions, and exercising critical judgement to discriminate between the ranges of alternatives; 12.B.6: Synthesise relevant information and exercise critical judgement in the development of reasoned arguments; 12.B.7: Enable students to reflect upon and manage their own learning, and seek to make use of constructive feedback from staff and peers to enhance their performance and personal skills. C. Subject-Specific Skills

12.C.2: Understand the development process as one that is inherently interdisciplinary, and draws, in different stages of the development process, or cycle in the business strategy, on different kinds of knowledge and understanding and different forms of subject specific skills;

D. Transferable skills: 12.D.1: Develop autonomy in learning, work independently demonstrating initiative and self organisation; 12.D.2:. Work co-operatively on group tasks, understand how groups function, collaborate with others and contribute effectively to the achievement of common goals; 12.D.3: Use communication and information technology for the retrieval and presentation of information, in the form of prose or numeracy as appropriate; 12.D.4: Develop communication skills, both orally and in writing. Communicate clear, succinct, analytical ideas; 12.D.5: Prepare and deliver oral presentations individually and as part of a group.

List of Lecture Topics There are no formal lectures for this course, however students are provided with a number of ‘briefings’ about the case study to familiarise them with the facts of the case.

Learning and Teaching Methods This is a ten week course that is offered entirely online in which students interact using the collaborative utilities of the learning management system.

Indicative Reading List Case readings as appropriate.

Method of Assessment (and how the chosen method of assessment is related to learning outcomes) Students will be assessed on the basis of their final presentation, their written submission of their presentation, and contributions to their group (participation).

Written Project Submission provides students with an opportunity to undertake a structured investigation, to analyse complex issues in real estate, and to present their decisions through structured reasoned argumentation. This enables students to demonstrate acquired knowledge and understanding of the key concepts, display an ability to find organise and use information, and interpret this material in a creative fashion. Students will have the opportunity to bring to bear competing explanations and positions to a coherent argument that demonstrates their ability to reflect critically on their own work. The Final Presentation is an opportunity for students to present their work orally to a panel of judges, and to gain valuable feedback on their presentation. This enables students to hone their skills in presenting their ideas orally, to communicate their ideas clearly, and to present well-structured visual presentations using PowerPoint slides and other visual communication tools as appropriate. Contributions to group work (participation) provides students with an opportunity to demonstrate their preparation, through presentations designed to lead discussion and to engage debates and other issues in a scholarly manner.

Summary of Assessed Elements, and Percentage Weight of Each Element

Final Project Presentation 30%

Group Project Sumbmission 55%

Class Participation 15%