Real Estate Management

Transcription

Module Description for MSc. in Real Estate Management
Content
Course Structure Overview: Real Estate Management (MSc.) ................................... 1
Module Title: Research Methods & Statistics .............................................................. 3
Module Title: Real Estate Investments, Finance and Funds ....................................... 5
Module Title: International Valuation & Accounting ..................................................... 7
Module Title: Legal Issues in Real Estate Management ............................................. 9
Module Title: Compulsory Electives .......................................................................... 10
Module Title: Construction: Property Life Cycles & Sustainability ............................. 11
Module Title: International Real Estate: Europe & America ...................................... 12
Module Title: Elective I: Real Estate Development I ................................................. 13
Module Title: Elective I: Facilities Management I ...................................................... 14
Module Title: Elective I: Portfolio Management I ....................................................... 15
Module Title: Elective I: Investment Banking I .......................................................... 18
Module Title: Real Estate Development Contract Management ............................... 20
Module Title: Legal Issues Regarding Loan Contracts & Real Estate Investments .. 21
Module Title: Project ................................................................................................. 23
Module Title: Technical Facilities & Intelligent Buildings ........................................... 24
Module Title: International Real Estate Management: Asia Pacific ........................... 26
Module Title: Elective II: Real Estate Development II ............................................... 27
Module Title: Elective II: Facilities Management II .................................................... 28
Module Title: Elective II: Portfolio Management II ..................................................... 29
Module Title: Elective II: Investment Banking II ........................................................ 32
Module Title: Real Estate Industry Seminar .............................................................. 34
Module Title: Management........................................................................................ 35
Module Title: MSc Dissertation ................................................................................. 37
Status April 2013
Course Structure Overview: Real Estate Management (MSc.)
1. Semester
2. Semester
3. Semester
4. Semester
MSc Dissertation
Real Estate Development
Contract Management
Research Methods
and Statistics
M IW 5 S 310
3 cP
Technical Equipment and
Intelligent Buildings
Legal Issues Regarding Loan
Contracts & Real Estate
Investments
M IW 2 S 066
6 CP
Real Estate
Investments, Finance
und Funds
M IW 4 S 244
6 CP
International
Valuation und
Accounting
M IW 4 S 245
6 CP
Legal Issues In Real
Estate Management
M IW 5 S 309
6 CP
M IW 5 S 311
3 CP
International Real
Estate: Europe &
America
M IW 4 S 246
6 CP
Elective I
M IW 3 S 185
6 CP
International Real
Estate Management:
Asia Pacific
M IW 4 S 251
6 CP
Elective II
M IW 4 S XXX
6 CP
Construction: Real
Estate Life Cycles &
Sustainability
M IW 3 S 184
6 CP
M IW 4 S XXX
6 CP
Real Estate Industry
Seminar
M IW 4 S 256
6 CP
Compulsory Electives
Project
Management
M IW 6 S 4XX
M IW 7 S 355
M IW 4 S 257
3 CP 3 CP
Status April 2013
6 CP
M IW 9 S 005
6 CP
Seite 1 von 39
Electives
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Real Estate
Development I
Real Estate
Development II
M IW 4 S 247
M IW 4 S 252
Facilities
Management I
Facilities
Management II
M IW 4 S 248
M IW 4 S 253
Portfolio
Management I
Portfolio
Management II
M IW 4 S 249
M IW 4 S 254
Investment Banking I
Investment Banking
II
M IW 4 S 250
M IW 4 S 255
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M IW 2 S 066
Module Title: Research Methods & Statistics
Faculty of Management, Social Work and Construction
Learning outcomes:
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In-depth proficiency in empirical research and familiarisation with independent
scientific working methods and the methods of inductive and deductive
modelling
Methodically analyse and evaluate scientific methods and apply them in new
areas of research
Using scientific methods, students are capable of collecting, interpreting and
critically reflecting on primary and secondary data relevant to the real estate
economy
Module Contents:
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Generating Hypotheses, measuring and scales, data collection, tests and
surveys, data protection and security, hypotheses’ testing
Data entry using simple questionnaires, SPSS menu functions, Syntax Editor,
basic principles of descriptive statistics, analysis of descriptive statistics,
SPSS graphics, introduction to inductive statistics, simple mean comparison
tests using data samples, comparison of means using several groups,
parameter-free tests, autonomy tests, correlation tests, regression tests,
factor analysis
Module Supervisor: Prof. Dr. Bernhard Funk
Module Assistant: Dipl.-Psychologe Carsten John
Tuition: 60 hours
Self-Study: 120 hours
(Total Workload: 180 hours)
Assessment: written examination (K1,5) and two written research projects (S)
Module Credit Points: 3 + 1.5 + 1.5
Participation Prerequisites: preferably a foundations in descriptive statistics
Language: German
Teaching Methods: seminars with practical exercises using computers
Frequency: weekly block course
Location: Computer laboratories
Reading List:
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Lecture notes
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Bortz, J., Döring, N. (2006), Forschungsmethoden und Evaluation für Humanund Sozialwissen-schaftler, (4th revised ed.) Berlin, Heidelberg: Springer
Medizin Verlag Heidelberg
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Eid, M., Gollwitzer, M. & Schmitt, M. (2010), Statistik und
Forschungsmethoden. Lehrbuch, (1st ed.) Weinheim: Beltz
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Field, A. (2009), Discovering statistics using SPSS. (and sex and drugs and
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rock'n'roll), (3rd ed.) Los Angeles: Sage
RICS Red Book, current edition
RICS Rules of Conduct
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M IW 4 S 244
Module Title: Real Estate Investments, Finance and Funds
Learning outcomes:
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Knowledge of the full range of established investment appraisal methods
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Ability to assess the advantages and disadvantages of each investment appraisal
method
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Ability to compile complex cash flow models and produce methodical and
mathematically correct results
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Ability to develop risk models for investment decisions
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Knowledge of the full range of financing solutions for the real estate industry
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Understand of the significance of refinancing of assets and balance sheet
management and how banks calculate spread
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Ability to assess the impact of regulatory frameworks and market practices on
lending policy (Basel Accords II and III, ratings, scorings - including the German
Schufa scoring system, etc.)
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Application of knowledge of operational issues, independently, to case studies
and projects (often within companies and organisations)
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Ability to express themselves logically and persuasively in oral and written form,
and communicate with peers in English about real estate investment and
management issues
Module Contents:
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Investment appraisal under no risk conditions
Investment appraisal with risk and uncertainty
Comparison of static, dynamic and VOFI methods
Real estate investment cash flow modelling and Excel training
Taxes, index-linking and inflation in capital budgeting
Traditional and structured instruments for financing real estate
Provider groups for real estate financing and bank refinancing management
Fee structures, effective yield calculations and typical loan agreement covenants
Forms of real estate financing (recourse, non-recourse, SPVs, etc.)
Consumer protection rules for home-owner mortgages (investor protection) and
liability for incorrect advice
Introduction to the concepts and structure of open-ended real estate funds,
closed-end real estate funds and stock-market listed vehicles
Provider structures for funds, market performance figures and the market
importance of certain types of funds
Fund documentation, prospectus liability, fund reporting, fund distribution and
business ethics
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Tuition: 60 hours
Assessment: research project with oral examination (R) and written examination (K1,5)
Module Credit Points: 3 + 3
Participation Prerequisites: none
Language: German and English
Teaching Methods: lectures, exercises, group work, case studies and workshops
Frequency: weekly
Location: lecture halls or seminar rooms
Reading List:
Kruschwitz: Investitionsrechnung, current edition
Schulte/Thomas/et. al.: Handbuch Immobilien-Investition, current edition
Lauer: Strukturierte Immobilienfinanzierung
Schulte et. al.: Handbuch Immobilien-Banking
Schäfer/Conzen: Praxishandbuch Immobilieninvestition, current edition
Kofner: Investitionsrechnung für Immobilien
Zeitschrift Immobilien und Finanzierung
EXCEL software
ARGUS software
Case studies and cash flow models in EXCEL and ARGUS
Various up-to-date online resources
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M IW 4 S 245
Module Title: International Valuation & Accounting
Learning outcomes:
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Knowledge of the legal foundations and application requirements for
international valuation and accounting methods
Understanding of the differences between German and international norms
and standards
Ability to explain and calculate the comparative method, asset value method
and income approach in an international context
Analysis of the paradigms of accounting
Understanding of the structures of international accounting
Interpretation of real estate relevant norms and evaluation of their impact on
balance sheets and profit and loss accounts
Module Contents:
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Legal foundations of international real estate valuation
Comparative method
Asset value method
Income Approach
Legal foundations of international accounting
IASB
IFRS
Real estate relevant IFRS
Module Supervisor: Prof. Dr. Matthias Weppler
Module Assistant:
Tuition: 60 hours
Assessment: written examination (K1,5) and a research project with oral examination
(R)
Language: English
Teaching Methods: lectures, workshops, projects
Frequency: weekly
Reading List:
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Appraisal Institute : The Appraisal of Real Estate Appraisal, Chicago 2008
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Appraisal Institute : The Dictionary of Real Estate Appraisal, Chicago 2010
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Baumuck, H./Böckem, H./Schurbohm-Ebneth, A.: Die Bilanzierung von
Immobilien nach International Accounting Standards, in: Zeitschrift
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Grundstücksmarkt und Grundstückswert (GuG), No. 6, 2002, pp. 354-362
Betts, R.M. / Ely, Silas J. : Basic Real Estate Appraisal – Principals and
Procedures, Mason 2008
Birk, A.: Ziele und Grundsätze der Rechnungslegung nach HGB, US-GAAP
und IAS, in: Kremin-Buch, B./Unger, F./Walz, H. (Ed.), Internationale
Rechnungslegung, Sternenfels 2003, pp. 13-30
Huschke, Ch.: Immobilienbewertung im Kontext der IFRS, Wiesbaden, 2007
RICS Red Book, current edition
Theile, C.: Übungsbuch IFRS, Wiesbaden, 2010
Wöltje, J.: IFRS, Freiburg im Breisgau, 2008
Wolverton, M.L.: An Introduction to Statistics for Appraisers, Chicago 2009
Zwirner, Ch.: IFRS Bilanzierungspraxis, Berlin 2007
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M IW 5 S 309
Module Title: Legal Issues in Real Estate Management
Learning outcomes:
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Understanding of the major elements of real estate law regarding real estate
development, the brokerage system and portfolio management
Ability to apply skills acquired in the module to the management of common
hold, freehold or strata ownership
Ability to apply knowledge to accurately assess brokerage issues
Acquisition of in-depth knowledge of tenancy law and state subsidies, and of
the public procurement laws for facilities management services
Comprehension of problems caused by contradictory laws or regulations and
finding solutions
Module Contents:
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The German condominium or common hold act (WEG), common holder
meetings, settling utility bills, costs and charges, proxies, liability, advisory
committees
Brokerage and the German law on real estate agents and contractors (MaBV)
The German civil code (BGB) and the German landlord and tenant act (MHG)
The German regulations governing the placing and content of contracts for
public authorities (VOL)
Facilities management: EU public procurement law, calls for bids, tendering,
procedures, inspections, drawing up contracts
Module Supervisor: Dr. Hundertmark
Tuition: 60 hours
Assessment: written examination (K3)
Module Credit Points: 6
Language: German
Teaching Methods: seminars with cases and exercises
Frequency: weekly
Reading List:
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Bub/von der Osten, Mietrecht aktuell und kompakt, current edition
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Collisi, Grundzüge des Maklerrechts, current edition
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Stürzer u. a., Praxishandbuch Wohnungseigentum, current edition
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Wietersheim/Schranner, Das neue Vergaberecht, current edition
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M IW 6 S 492
Module Title: Compulsory Electives
Learning outcomes:
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Ability to identify and resolve complex problems in the technical, legal and
commercial fields of real estate with partly new or unknown variables
Understanding and ability to evaluate the economic, political, social and legal
frameworks of real estate management
Module Contents:
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Selected subjects from project management
Interdisciplinary real estate research
Selected subjects from IT in the real estate industry
Selected topics from facilities management
Selected subjects from marketing
Selected subjects from financial controlling and accounting
Selected topics from valuation
Selected subjects from portfolio and inventory management
Interdisciplinary topics from other MA courses
Languages
Module Supervisor: Prof. Dr. Jens Oeljeschlager
Tuition: 60 hours
Assessment: any examination type x 2
Languages: German, English and others
Teaching Methods: lectures, seminars and group work
Location: lecture halls, seminar rooms, computer laboratories, laboratory and
workshop
Reading List:
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Faculty staff will issue relevant reading lists
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M IW 3 S 184
Module Title: Construction: Property Life Cycles & Sustainability
Learning Outcomes:
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Understanding of the complex relationship between sustainable and energy
efficient construction, and of the entire life cycle of a building or house
Understand of the connection between investment and operating costs,
between design, durability and value, and alternatives in use and conversion
Ability to assess a building with regard to redevelopment concepts
Understanding and ability to critically assess the various certification systems
for sustainable construction
Module Contents:
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Energy efficiency, calculation and assessment methods
Sustainability, life cycles, certification systems: BNB and DGNB (in Germany),
BREEAM (in the UK), LEED (in the USA)
Assessing the fabric of a building, redevelopment, refurbishment, renovation,
structural damage research
Subsidies: calculation and certification processes
Module Supervisor: Prof. Lamers
Tuition: 60 hours
Assessment: written research project (S) and/or portfolio (PF)
Language: German
Teaching Methods: lectures, seminars and exercises
Frequency: weekly
Reading List:
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Makkie: Green Building. Nachhaltigkeitszertifikate im Bausektor –
Konsequenzen für die Bau- und Immobilienwirtschaft
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Ebert; Essig; Hauser: Zertifizierungssysteme für Gebäude
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Bauer, et al: Nachhaltiges Bauen. Zukunftsfähige Konzepte für Planer und
Entscheider
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Guidelines for sustainable building (DGNB, LEED, BREEAM) and other
relevant literature
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Weller; Fahrion; Jakubetz: Denkmal und Energie
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GdW Arbeitshilfe 64: Energieeffizientes Bauen und Modernisieren
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M IW 4 S 246
Module Title: International Real Estate: Europe & America
Learning Outcomes:
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Acquisition of a deeper understanding of international real estate management
especially regarding Europe and America
Understanding economic, legal, social, cultural and environmental factors
Understanding the various legal traditions
Awareness of the special features of the various real estate markets
Understanding and use of technical terms in foreign languages
Ability to communicate effectively and to work together with people under any
conditions, at home and abroad
Ability to articulate oneself logically and persuasively in oral and written form,
and, mastering foreign language skills and enhancing cross-cultural
awareness, ability to discuss real estate management issues with both
professional colleagues and a wider public
Application of management techniques in international and cross-cultural
environments
Module Contents:
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International real estate law
International agreements
Cross-cultural aspects of conducting negotiations
International economic history
International architecture and building history
International market structures
International market trends
Tuition: 60 hours
Assessment: presentation (P)
Language: English
Teaching Methods: lectures, workshop, project
Reading List:
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Mayrzedt, H./Geiger, N./Klett, E./Beyerly, Th.: Internationales
Immobilienmanagement, München 2007
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M IW 4 S 247
Module Title: Elective I: Real Estate Development I
Learning Outcomes:
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Ability to organise and conduct real estate development site visits effectively
with professionals and/or institutions associated with the project
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Conduct of independent location analyses and market research to produce a
market analysis
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Design and development of use concepts
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Development of an urban real estate use concept, in which each successive
stage is clearly shown and which leads to a coherent project
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Calculation of the purchase price of a property using the residual method
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Ability to respond to a competitive call for bids; preparing a tender and holding
a presentation
Module Contents:
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Case: some years ago, several thousand square meters of land, the
Zollamtsstrasse, was put out to tender by Deutsche Bahn (the German
national railway company) and the city of Aachen in western Germany; the
property, used as a car park, adjacent to Aachen's main railway station
Requirements regarding the submission of a (fictional) response to this call for
bids, by developing a use concept, working out a property purchase price, and
drafting a written proposal
Module Supervisor: Prof. Dr. Jürgen Erbach
Module Assistant:
Tuition: 60 hours
Assessment: presentation (P), practical experience / project report (PB), case study
(FS), mediation (Mod)
Language: German
Teaching Methods: seminars with case studies
Frequency: Location: Reading List: -
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M IW 4 S 248
Module Title: Elective I: Facilities Management I
Learning Outcomes:
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Through seminars based on topical issues, students acquire an in-depth
proficiency in the objectives, responsibilities and functions of technical,
commercial and infrastructural facilities management (FM), and are able to
comprehend and discuss their impact on the various FM customer target
groups (e.g. occupiers, tenants, real estate owners, investors)
Module Contents:
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Selected, topical subject matter from strategic and operational FM
Tuition: 60 hours
Assessment: research project with oral examination (R), case study (FS), oral
examination (M)
Language: German
Teaching Methods: seminars
Reading List: -
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M IW 4 S 249
Module Title: Elective I: Portfolio Management I
Learning Outcomes:
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Knowledge of the scope and tools of portfolio management
Understanding the strategic options real estate investors are faced with
Module Contents:
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General strategic implications of portfolio theory in asset management
Modern portfolio theory and risk assessment based on statistical variance and
factor tests
Modern portfolio models, in particular the application of the Markowitz Portfolio
Theory in the capital asset pricing model (CAPM)
The Sharpe ratio
Determining optimal real estate portfolios (with a focus on quantitative
analysis)
Theoretical design of optimal solver solutions
Appraising real estate portfolios
Case studies
Module Supervisor: Verw.-Prof. Dr. Thomas Nern
Tuition: 60 hours
Assessment: research project with oral examination (R), case study (FS)
Languages: German and English
Frequency: weekly
Reading List:
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Allendorf, Georg J. / Kurzrock, Björn-Martin: Portfoliomanagement mithilfe
qualitativer Modell, in: Schulte, Karl-Werner / Thomas, Matthias (Ed.):
Handbuch Immobilien-Portfoliomanagement, Köln 2007
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Armonat, Stefan: Immobilienrenditen in finanzwirtschaftlichen Modellen Investmentorientierte Portfolio-Steuerung von Immobilienanlagen, Diss.,
Frankfurt am Main 2006
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Auckenthaler, Christoph: Theorie und Praxis des modernen
Portfolio-Managements, 2nd revised ed., Bern / Stuttgart / Wien 1994
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Benk, Kay / Haß, Lars Helge / Johanning, Lutz et al.: Portfoliooptimierung:
Korrelationen von Immobilien mit anderen Märkten und Anlageklassen effiziente Portfoliodiversifikation unter Berücksichtigung von
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Downside-Risiken, in: Junius, Karsten / Piazolo, Daniel (Ed.): Praxishandbuch
Immobilienmarktrisiken, Köln 2009
Bone-Winkel, Stephan: Strategisches Immobilien-Portfoliomanagement, in:
Schulte, Karl-Werner / Bone-Winkel, Stephan / Thomas, Matthias (Ed.):
Handbuch Immobilien-Investition, 2nd revised ed., Köln 2005
Bone-Winkel, Stephan / Thomas, Matthias / Allendorf, Georg J. et al.:
Immobilien-Portfoliomanagement, in: Schulte, Karl-Werner (Ed.):
Immobilienökonomie - Vol. I Betriebswirtschaftliche Grundlagen, 3rd revised
ed., München 2005
Breuer, Wolfgang / Gürtler, Marc, Schuhmacher, Frank: Portfoliomanagement I
- Grundlagen, 3rd revised ed., Wiesbaden 2010
Bruns, Christoph / Meyer-Bullerdiek, Frieder: Professionelles
Portfoliomanagement - Aufbau, Umsetzung und Erfolgskontrolle strukturierter
Anlagestrategien, 4th revised ed., Stuttgart 2008
Garz, Hendrik / Günther, Stefan / Moriabadi, Cyrus: Portfolio-Management Theorie und Anwendung, 2nd revised ed., Frankfurt am Main 1998
Gondring, Hanspeter: Risiko Immobilie - Methoden und Techniken der
Risikomessung bei Immobilieninvestitionen, München 2007
Gondring, Hanspeter / Wagner, Thomas: Real Estate Asset Management Handbuch für Studium und Praxis, München 2010
Haub, Christoph: Steuerung von Immobilienportfolios mit Kennzahlen, in:
Schulte, Karl-Werner / Thomas, Matthias (Ed.): Handbuch
Immobilien-Portfoliomanagement, Köln 2007
Isenhöfer, Björn / Väth, Arno / Hofmann, Philip: Immobilienanalyse, in: Schulte,
Karl-Werner (Ed.): Immobilienökonomie - Vol. I Betriebswirtschaftliche
Grundlagen, 3rd revised ed., München 2005
Kippes, Stephan / Sailer, Erwin (Ed.): Immobilienmanagement - Handbuch für
professionelle Immobilienbetreuung und Vermögensverwaltung, Stuttgart et al.
2005
Lehner, Claus: Erfolgreiches Portfolio- und Asset Management für
Immobilienunternehmen - Die 8 Werthebel, Diss., Wiesbaden 2010
Pfnür, Andreas / Armonat, Stefan: Immobilienkapitalanlage institutioneller
Investoren - Risikomanagement und Portfolioplanung, in: Arbeitsbereich
Öffentliche Wirtschaft, Fachbereich Wirtschaftswissenschaften, Universität
Hamburg (Ed.): Arbeitspapiere des Arbeitsbereichs Öffentliche Wirtschaft, Vol.
No. 26, Hamburg 2001
Poddig, Thorsten / Brinkmann, Ulf / Seiler, Katharina: Portfoliomanagement:
Konzepte und Strategien - Theorie und praxisorientierte Anwendung mit
Excel™, Bad Soden/Ts. 2005
Quante, Rainer: Praxishandbuch Immobilien Asset Management, Köln 2011
Rehkugler, Heinz: Grundlagen des Portfoliomanagements, in: Kleeberg,
Jochen M. / Rehkugler, Heinz (Ed.): Handbuch Portfoliomanagement Strukturierte Ansätze für ein modernes Wertpapiermanagement, 2nd revised
ed., Bad Soden/ts. 2002
Schmidt-von-Rhein, Andreas: Portfoliooptimierung mit der Ausfallvarianz, in:
Kleeberg, Jochen M. / Rehkugler, Heinz (Ed.): Handbuch
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Portfoliomanagement - Strukturierte Ansätze für ein modernes
Wertpapiermanagement, 2nd revised ed., Bad Soden/Ts. 2002
Schulte, Karl-Werner / Holzmann, Christoph: Investition in Immobilien, in:
Schulte, Karl-Werner / Ropeter-Ahlers, Sven-Eric: Investitionsrechnung und
Risikoanalyse, in: Schulte, Karl-Werner / Bone-Winkel, Stephan / Thomas,
Matthias (Ed.): Handbuch Immobilieninvestition, 2nd revised ed., Köln 2005
Schulte, Karl-Werner / Thomas, Matthias / Focke, Christian et al.:
Konzeptionelle Grundlagen des Immobilien-Portfoliomanagements, in:
Specht, Katja / Gohout, Wolfgang: Grundlagen der Kapitalmarkttheorie und
des Portfoliomanagements, München 2009
Spremann, Klaus: Portfoliomanagement, 3rd revised ed., München 2006
Stock, Alexandra: Risikomanagement im Rahmen des
Immobilien-Portfoliomanagements institutioneller Investoren, Diss., Köln 2009
Stier, Daniel Philippe: Moderne Ansätze im Immobilienportfoliomanagement,
Hamburg 2010
Thomas, Matthias / Wellner, Kristin: Portfoliomanagement mithilfe quantitativer
Modelle, in: Schulte, Karl-Werner / Thomas, Matthias (Ed.): Handbuch
Wellner, Kristin: Entwicklung eines Immobilien-Portfolio-Management-Systems
zur Optimierung von Rendite-Risiko-Profilen diversifizierter
Immobilien-Portfolios, Diss., Norderstedt 2003
Wellner, Kristin: Immmobilien-Portfoliomanagement - Portfoliomessung,
-diversifizierung und -streuung, in: BDO Deutsche Warentreuhand AG, (Ed.):
Praxishandbuch Real Estate Management- Kompendium der
Immobilienwirtschaft, Stuttgart 2005
Wellner, Kristin: Grenzen der Portfoliooptimierung in der Praxis: Korrelationen
und Cluster von Immobilienstandorten und Sektoren, in: Junius, Karsten /
Piazolo, Daniel (Ed.): Praxishandbuch Immobilienmarktrisiken, Köln 2009
Wüstefeld, Hermann: Strategische Asset-Allokation, in: Schulte, Karl-Werner /
Thomas, Matthias (Ed.): Handbuch Immobilien-Portfoliomanagement, Köln
2007
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M IW 4 S 250
Module Title: Elective I: Investment Banking I
Learning Outcomes:
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Knowledge of the modes of sourcing and structuring real estate equity and
debt
Understanding alternatives to real estate investment capitalisation through
instruments of equity and debt
Comprehension of the link between capital and real estate markets
Understanding the interdependences between certain financing structures
(e.g. Subprime Debt) and capital market instruments (e.g. CMBS), and the role
they played in the origins of financial crises
Insight into the structure, market significance and the legal or regulatory
requirements of real estate investment vehicles (e.g. listed real estate
companies, open-ended funds, specialised funds, closed-end funds, etc.)
By comparing countries – e.g. Germany with the USA - students gain an
understanding of the importance and heterogeneity of different legal systems
and capital market cultures regarding the functioning of capital markets
Ability to independently apply their knowledge acquired to case studies and
real-life situations - in part together with organisations and businesses
Additional business presentations and visits to companies help students to
assimilate the course material and deal with operational issues
Module Contents:
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The fields of real estate investment banking
Capital market analysis: financial crisis, stability in the financial markets and
regulations
The modes of sourcing and structuring real estate equity and debt
Open-ended real estate mutual funds, specialised open-ended real estate
funds and closed-end funds
Listed real estate and real estate investment trusts
Commercial mortgage underwriting
Real estate leasing, securitisation (RMBS / CMBS), REPE
Mezzanine financing, project financing, equity financing and banking collateral
Performance measurement and risk management
Inflation and currency risk management in real estate investments
Case studies, project work, group work, workshops
Working with businesses and visits to companies
Tuition: 60 hours
Status April 2013
Seite 18 von 39
Assessment: research project with oral examination (R), project work (PA)
Teaching Methods: lectures, workshops, case studies, group work
Frequency: weekly
Reading List:
·
Schulte et. al: Handbuch Immobilien-Banking.
·
Verband deutscher Pfandbriefbanken (various publications from German
mortgage companies)
·
Rottke et. al.: Management der Finanzkrise
·
Achtleitner: Handbuch Investment Banking
·
Lauer: Strukturierte Immobilienfinanzierung
·
Doll: Gewerbliche Immobilienfinanzierung
·
Zeitschrift Immobilien und Finanzierung
·
Rottke: Handbook Real Estate Capital Markets
·
Brealey / Myers: Principles of Corporate Finance
·
Fisher, Jeffrey: Real Estate Investments
Status April 2013
Seite 19 von 39
M IW 5 S 310
Module Title: Real Estate Development Contract Management
Learning Outcomes:
·
·
Understanding and evaluating the economic, social and legal frameworks of
real estate management and focussing on real estate development
Ability to think in an analytical, abstract way, drawing connections beyond the
remit of a brief, and to deal efficiently, methodically and systematically with
new and unfamiliar challenges
Module Contents:
·
·
·
·
·
Preparation and compilation of key contracts (real estate deed, architect’s
contract, leasehold agreement, general contractor’s agreement) for a complex,
real-life real estate development (the Zollamtstrasse real estate development
in Aachen, North Rhine Westphalia)
Identification of the commercial goals a real estate developer pursues when
drawing up a contract
Identification of the delimitation points between different project contracts
Drawing up clauses in contracts which define commercial goals and settle
boundaries with other contracts
Uniformity: the components of a contract form a homogenous whole
Tuition: 30 hours
Assessment: presentation (P), practical experience / project report (PB), case study
(FS)
Language: German
Teaching Methods: Frequency: weekly block course
Reading List:
• Copies of contracts to be provided
Status April 2013
Seite 20 von 39
M IW 5 S 311
Module Title: Legal Issues Regarding Loan Contracts & Real Estate Investments
Learning Outcomes:
·
·
·
·
·
Understanding of the legal structure of loan agreements in private and
commercial real estate financing, including contractual structure options
Familiarisation with types of collateral in the banking industry, through practical
applications and case studies
Understanding of the forms and structures of real estate investments
(especially funds and REITs), and assessment of their frameworks from the
point view of law, risk and taxation
Comprehension of the risks of financing and investments and the ways these
risks are counteracted through regulatory and contractual measures
Understanding of the legal framework of credit law and investor and consumer
protection, if required with the appropriate adjudication
Module Contents:
·
·
·
·
·
·
Mortgage liens, real estate collaterals, land charges and securities in loan
agreements
Additional securities, acknowledgement of debt, payment conditions
Special cases: collateral and the German MaBV, syndicate loans,
non-performing loans
The legal basis of open-ended and closed-end funds (the KAGB in Germany
for holding companies) and real estate investment trusts (REITs)
The German KWG banking act, investor and consumer protection, liability
risks, fund documentation, taxation of investment vehicles
Institutions and legal sources in the regulation of loans and real estate
investment vehicles, e.g. the KWG, PfandBG (German act regulating
mortgage-backed bonds), BaFin (a federal German supervisory agency),
consumer loan directives in Germany, EU directives, and the AIFM directive
Module Supervisor: Dr. Ulrich Hundertmark
Tuition: 30 hours
Assessment: written examination (K1,5) or research project with oral examination (R)
Language: German
Reading List:
Status April 2013
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·
·
·
·
·
·
·
Schaller/Vergho, in: Rechtshandbuch für die Immobilienpraxis, current edition,
m. w. N.
Rauch, W. / Zimmermann, S.: Grundschuld und Hypothek, current edition
Schimansky,H. / Bunte, H.-J./ Lwowski, H. J.: Bankrechts-Handbuch, current
edition
Lauer, J.: Strukturierte Immobilienfinanzierung, current edition
Schäfer/Conzen, Praxishandbuch der Immobilien-Investitionen, current edition
Schulte/Bone-Winkel/Thomas, Handbuch Immobilieninvestition, current edition
Status April 2013
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M IW 7 S 355
Module Title: Project
Learning Outcomes:
·
·
·
·
·
Ability to research source material and using the latest research findings
Ability to think analytically and in an abstract way, and show a quick,
methodical and systematic response to new and unfamiliar challenges
Ability to assume leadership roles in interdisciplinary and / or cross-cultural
teams and organisations, and pinpoint and resolve complex issues in
technical, legal and business situations
Ability work both by independently and in an interdisciplinary group, organising
and running projects effectively
Ability to apply scientific methods and the latest findings in real estate
management to research, taking into account economic, environmental,
technical and societal aspects
Module Contents:
·
·
·
·
·
Real estate development of residential or commercial real estate
Analysis of internet activities of real estate companies
Development of facilities management concepts
Concepts for marketing real estate
CRM studies
Module Supervisor: Prof. Dr. Susanne Ertle-Straub
Module Assistants: all HAWK teaching staff
Tuition: 60 hours
Assessment: research project with oral examination (R)
Teaching Methods: Frequency: weekly block course
Reading List:
• Depending on subject
Status April 2013
Seite 23 von 39
M IW 3 S 185
Module Title: Technical Facilities & Intelligent Buildings
Learning Outcomes:
·
·
·
Knowledge of the principles of technical facilities of buildings and of energy
efficiency of technologies related to the building envelope
Ability to assess facade improvement potential, including high-rise buildings
Understanding building automation
Module Contents:
·
Technical facilities of buildings
- Heating, cooling, ventilation
- Statutory requirements (the German EnEV and EEWärmeG regulations)
- Heating load
- Conventional heating (boiler and hot water storage technology, heating
systems)
- Heating with renewable energy
- Air conditioning systems
- Cooling load - cooling with renewable energy
- Energy efficiency optimisation of properties
- Installation technology
- Plumbing
- Lighting
·
Intelligent buildings
- Facade technology (double-skin facades / systems’ integration into facades)
- Intelligent building concepts / intelligent system concepts
- Building automation
Module Supervisor: Prof. Jutta Trautmann
Tuition: 60 hours
Assessment: research project with oral examination (R) and seminar paper (H)
Language: German
Teaching Methods: seminars with cases and exercises
Frequency: weekly
Reading List:
·
Handbuch der Gebäudetechnik, PISTOHL, Werner Verlag
·
BUDERUS Handbuch für Heizungstechnik, BEUTH
Status April 2013
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·
·
·
·
·
·
·
·
·
·
·
·
Heizungstechnik – Projektierung von Warmwasserheizungen, Industrieverlag
2006
Planungshilfen Lüftungstechnik, Achim Trogisch von Müller, CF
Erneuerbare Energien + Klimaschutz (Hintergründe, Techniken,
Anlagenplanung, Wirtschaftlichkeit) Carl Hanser Verlag
Erneuerbare Energien (Technologien, Anforderungen, Projektbeispiele) Weka
Media
Gebäude- + Grundstücksentwässerung, DIN BEUTH
Technische Regeln für Trinkwasserinstallation, DIN BEUTH
Grundlagen der Lichtplanung, Dietrich Gall, Pflaum Verlag
Clima Skin, Hausladen, Callway Verlag
Doppelfassaden, Ernst & Sohn – Verlag
Intelligente Glasfassaden, Birkhäuser Verlag
Digitale Gebäudeautomation, Springer Verlag
Gebäudeautomation: Kommunikationssysteme, Carl Hansen Verlag
Status April 2013
Seite 25 von 39
M IW 4 S 251
Module Title: International Real Estate Management: Asia Pacific
Learning Outcomes:
·
·
·
·
·
·
·
Ability to clarify aspects of international real estate management relating to the
Asian markets
Ability to discuss economic, legal, social, cultural and environmental issues
Understanding of the various legal traditions
Enhancement of the awareness of the special features of real estate
Knowledge of the technical terms in other languages
Ability to work effectively with people in a variety of situations, at home and
abroad
Ability to articulate oneself logically and persuasively in oral and written form,
and, mastering foreign language skills and enhancing cross-cultural
awareness, ability to discuss real estate management issues with both
professional colleagues and a wider public
Practice and application of management techniques in international and
cross-cultural environments
Module Contents:
·
·
·
·
·
·
·
International real estate and construction laws
International agreements
Cultural aspects of negotiating
International economic history
International history of architecture and construction
International market structures
International market trends
Tuition: 60 hours
Assessment: presentation (P)
Language: English
Teaching Methods: lectures, workshops and project work
Reading List:
Mayrzedt, H./Geiger, N./Klett, E./Beyerly, Th.: Internationales
Immobilienmanagement, München 2007
Status April 2013
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M IW 4 S 252
Module Title: Elective II: Real Estate Development II
Learning Outcomes:
·
·
·
·
·
·
Ability to organise and conduct real estate development site visits effectively
with professionals and/or institutions associated with the project
Conduct of independent location analyses and market research to produce a
market analysis
Design and development of use concepts
Development of an urban real estate use concept, in which each successive
stage is clearly shown and which leads to a coherent project
Calculation of the purchase price of a property using the residual method
Ability to respond to a competitive call for bids; preparing a tender and holding
a presentation
Module Contents:
·
Dependent on the project selected
Tuition: 60 hours
Assessment: case study (FS), practical experience / project report (PB) and a
presentation (P)
Language: German
Teaching Methods: Seminars
Reading List:
·
Material will be provided for discussion depending on project choice
Status April 2013
Seite 27 von 39
M IW 4 S 253
Module Title: Elective II: Facilities Management II
Learning Outcomes:
·
Knowledge on the objectives, scope and functions of strategic and operational
facilities management (FM), allows students to convert their knowledge
acquired into professional practice, especially in the sphere of FM corporate
governance
Module Contents:
·
Project work, either in association with a FM company or in companies with an
FM department, or using case studies
Tuition: 60 hours
Assessment: research project with oral examination (R), project work (PA) and a
presentation (P)
Language: German
Teaching Methods: project work
Frequency: Location: lecture halls or seminar rooms
Reading List:
·
Dependent on the project
Status April 2013
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M IW 4 S 254
Module Title: Elective II: Portfolio Management II
Learning Outcomes:
·
·
Understanding the scope and instruments of portfolio management
Understandng the strategic options real estate investors are faced with.
Module Contents:
·
·
·
·
·
The deeper strategic implications of portfolio theory
In depth study of modern portfolio theory and risk assessment, including
regression analysis
Determining optimal real estate portfolios (with a focus on qualitative analysis
using scoring model structures)
Theoretical design of optimal indicators and factor appraisals
Case study: calculating an optimal portfolio based on current real estate and
market data
Module Supervisor: Verw.-Prof. Dr. Thomas Nern
Tuition: 60 hours
Assessment: project work (PA)
Teaching Methods: seminars with case studies
Reading List:
·
Allendorf, Georg J. / Kurzrock, Björn-Martin: Portfoliomanagement mithilfe
qualitativer Modell, in: Schulte, Karl-Werner / Thomas, Matthias (Ed.):
Handbuch Immobilien-Portfoliomanagement, Köln 2007
·
Armonat, Stefan: Immobilienrenditen in finanzwirtschaftlichen Modellen Investmentorientierte Portfolio-Steuerung von Immobilienanlagen, Diss.,
Frankfurt am Main 2006
·
Auckenthaler, Christoph: Theorie und Praxis des modernen
Portfolio-Managements, 2nd revised ed., Bern / Stuttgart / Wien 1994
·
Benk, Kay / Haß, Lars Helge / Johanning, Lutz et al.: Portfoliooptimierung:
Korrelationen von Immobilien mit anderen Märkten und Anlageklassen effiziente Portfoliodiversifikation unter Berücksichtigung von Downside-Risiken,
in: Junius, Karsten / Piazolo, Daniel (Ed.): Praxishandbuch
Immobilienmarktrisiken, Köln 2009
·
Bone-Winkel, Stephan: Strategisches Immobilien-Portfoliomanagement, in:
Status April 2013
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·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Bone-Winkel, Stephan / Thomas, Matthias / Allendorf, Georg J. et al.:
Immobilien-Portfoliomanagement, in: Schulte, Karl-Werner (Ed.):
Immobilienökonomie - Vol. I Betriebswirtschaftliche Grundlagen, 3rd revised
ed., München 2005
Breuer, Wolfgang / Gürtler, Marc, Schuhmacher, Frank: Portfoliomanagement I
- Grundlagen, 3rd revised ed., Wiesbaden 2010
Bruns, Christoph / Meyer-Bullerdiek, Frieder: Professionelles
Portfoliomanagement - Aufbau, Umsetzung und Erfolgskontrolle strukturierter
Anlagestrategien, 4th revised ed., Stuttgart 2008
Garz, Hendrik / Günther, Stefan / Moriabadi, Cyrus: Portfolio-Management Theorie und Anwendung, 2nd revised ed., Frankfurt am Main 1998
Gondring, Hanspeter: Risiko Immobilie - Methoden und Techniken der
Risikomessung bei Immobilieninvestitionen, München 2007
Gondring, Hanspeter / Wagner, Thomas: Real Estate Asset Management Handbuch für Studium und Praxis, München 2010
Haub, Christoph: Steuerung von Immobilienportfolios mit Kennzahlen, in:
Isenhöfer, Björn / Väth, Arno / Hofmann, Philip: Immobilienanalyse, in: Schulte,
Karl-Werner (Ed.): Immobilienökonomie - Band I Betriebswirtschaftliche
Grundlagen, 3rd revised ed., München 2005
Kippes, Stephan / Sailer, Erwin (Ed.): Immobilienmanagement - Handbuch für
professionelle Immobilienbetreuung und Vermögensverwaltung, Stuttgart et al.
2005
Lehner, Claus: Erfolgreiches Portfolio- und Asset Management für
Immobilienunternehmen - Die 8 Werthebel, Diss., Wiesbaden 2010
Pfnür, Andreas / Armonat, Stefan: Immobilienkapitalanlage institutioneller
Investoren - Risikomanagement und Portfolioplanung, in: Arbeitsbereich
Öffentliche Wirtschaft, Fachbereich Wirtschaftswissenschaften, Universität
Hamburg (Ed.): Arbeitspapiere des Arbeitsbereichs Öffentliche Wirtschaft, vol.
no. 26, Hamburg 2001
Poddig, Thorsten / Brinkmann, Ulf / Seiler, Katharina: Portfoliomanagement:
Konzepte und Strategien - Theorie und praxisorientierte Anwendung mit
Excel™, Bad Soden/Ts. 2005
Quante, Rainer: Praxishandbuch Immobilien Asset Management, Köln 2011
Rehkugler, Heinz: Grundlagen des Portfoliomanagements, in: Kleeberg,
Jochen M. / Rehkugler, Heinz (Ed.): Handbuch Portfoliomanagement Strukturierte Ansätze für ein modernes Wertpapiermanagement, 2nd revised
ed., Bad Soden/ts. 2002
Schmidt-von-Rhein, Andreas: Portfoliooptimierung mit der Ausfallvarianz, in:
Kleeberg, Jochen M. / Rehkugler, Heinz (Ed.): Handbuch
Portfoliomanagement - Strukturierte Ansätze für ein modernes
Wertpapiermanagement, 2nd revised ed., Bad Soden/Ts. 2002
Status April 2013
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·
·
·
·
·
·
·
·
·
·
·
·
·
Schulte, Karl-Werner / Holzmann, Christoph: Investition in Immobilien, in:
Schulte, Karl-Werner / Ropeter-Ahlers, Sven-Eric: Investitionsrechnung und
Risikoanalyse, in: Schulte, Karl-Werner / Bone-Winkel, Stephan / Thomas,
Matthias (Ed.): Handbuch Immobilieninvestition, 2nd revised ed., Köln 2005
Schulte, Karl-Werner / Thomas, Matthias / Focke, Christian et al.:
Konzeptionelle Grundlagen des Immobilien-Portfoliomanagements, in: Schulte,
Karl-Werner / Thomas, Matthias (Ed.): Handbuch
Specht, Katja / Gohout, Wolfgang: Grundlagen der Kapitalmarkttheorie und
des Portfoliomanagements, München 2009
Spremann, Klaus: Portfoliomanagement, 3rd revised ed., München 2006
Stock, Alexandra: Risikomanagement im Rahmen des
Immobilien-Portfoliomanagements institutioneller Investoren, Diss., Köln 2009
Stier, Daniel Philippe: Moderne Ansätze im Immobilienportfoliomanagement,
Hamburg 2010
Thomas, Matthias / Wellner, Kristin: Portfoliomanagement mithilfe quantitativer
Modelle, in: Schulte, Karl-Werner / Thomas, Matthias (Ed.): Handbuch
Wellner, Kristin: Entwicklung eines Immobilien-Portfolio-Management-Systems
zur Optimierung von Rendite-Risiko-Profilen diversifizierter
Immobilien-Portfolios, Diss., Norderstedt 2003
Wellner, Kristin: Immmobilien-Portfoliomanagement - Portfoliomessung,
-diversifizierung und -streuung, in: BDO Deutsche Warentreuhand AG, (Ed.):
Praxishandbuch Real Estate Management- Kompendium der
Immobilienwirtschaft, Stuttgart 2005
Wellner, Kristin: Grenzen der Portfoliooptimierung in der Praxis: Korrelationen
und Cluster von Immobilienstandorten und Sektoren, in: Junius, Karsten /
Piazolo, Daniel (Ed.): Praxishandbuch Immobilienmarktrisiken, Köln 2009
Wüstefeld, Hermann: Strategische Asset-Allokation, in: Schulte, Karl-Werner /
Thomas, Matthias (Ed.): Handbuch Immobilien-Portfoliomanagement, Köln
2007
Status April 2013
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M IW 4 S 255
Module Title: Elective II: Investment Banking II
Learning Outcomes:
·
·
·
·
·
·
·
Understanding complex investment and financing structures
Acquisition of practical insights into the composition and organisation of real
estate funds via a business simulation game ("Fund Sourcing & Management")
Understanding the perspective of investors and banks in the negotiation of real
estate financing
Ability to estimate the influence of regulatory developments on the market
performance of equity and debt instruments
Knowledge on how to analyse and appraise risk-return profiles independently
through modelling
Ability to transfer the knowledge acquired into practice in cooperative projects
with companies
Confidence in issues of sourcing, modelling and decision-making in real estate
investment and financing
Module Contents:
·
·
·
·
·
·
·
·
·
·
Listed real estate companies: preparing an IPO, flotation, investor relations and
business reporting
Listed real estate companies: financial and accounting management, appraisal
and valuation (NAV, etc.), transparency and benchmarking
Real estate transactions: the acquisition process, due diligence and closing
Real estate transactions: investment management and performance
measurement
Commercial real estate financing: contracts, collateral, covenants
Commercial real estate financing: providers and regulations (Basel Accord III,
etc.)
Real estate funds: Regulations (AIFM, Solvency II, Investor Protection Act,
etc.)
Real estate funds: fund management simulation game ("Fund Sourcing &
Management")
Case studies, simulations, workshops, group work
Working with businesses and visits to companies
Tuition: 60 hours
Assessment: research project with oral examination (R), project work (PA)
Status April 2013
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Teaching Methods: lectures, workshops, project work, group work, etc.
Frequency: weekly
Reading List:
·
Bone Winkel et al.: Handbuch Real Estate Investment Trusts
·
Rehkugler: Die Immobilie als Kapitalmarktprodukt
·
Rehkugler: Die Immobilien AG
·
Schulte et. al.: Handbuch Immobilien-Projektentwicklung
·
Rottke: Handbuch Real Estate Private Equity
·
Wirtz: IPO-Management
·
Schäfer: German REITs. Praxisleitfaden.
·
Schuhmacher et. al.: Praxishandbuch Immobilienfondsmanagement und
Immobilieninvestment.
·
Junius / Piazolo: Praxishandbuch Immobilienmarktrisiken.
·
Business and organisation literature: EPRA, INREV, IPD, the German stock
exchange, etc.
·
Online material
Status April 2013
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M IW 4 S 256
Module Title: Real Estate Industry Seminar
Learning Outcomes:
·
·
Ability to research topical real estate industry issues and present and discuss
their independent findings in a seminar
Improved presentation and arguing skills
Module Contents:
·
Topical real estate industry subject matters
Module Supervisor: Prof. Dr. Jürgen Erbach, Prof. Dr. Susanne Ertle-Straub,
Prof. Dr. Bernhard Funk, Prof. Dr. Jens Oeljeschlager, Prof. Justus Vollrath,
Prof. Dr. Matthias Weppler
Tuition: 60 hours
Assessment: Research project with oral examination (R)
Language: German
Teaching Methods: seminars and lectures
Reading List:
·
A reading list of relevant literature will be provided before the module begins
Status April 2013
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M IW 4 S 257
Module Title: Management
Learning Outcomes:
·
·
Enhancement of management skills by dealing with topical management
issues and subsequently presenting and discussing the results in seminars
Enhancement of presentation and arguing skills
Module Contents:
·
·
·
·
·
·
·
·
·
·
·
·
Human resources (HR) management
The relationship between HR management and ethics in the real estate
industry
RICS rules of conduct
Management theories and leadership styles
HR management in a globalised world
Staff development and talent management
Careers in the real estate industry and testing career suitability
Gender issues in HR management
General principles and objectives of management, managerial accounting and
controlling
Corporate decision support system (DSS)
Analyses and forecasts
Modern approaches to management and management accounting
Indicators and controlling
Module Assistants: Prof. Dr. Susanne Ertle-Straub, Prof. Dr. Matthias Weppler
Tuition: 60 hours
Assessment: all examination methods are possible
Language: German
Teaching Methods: lectures, group work, seminars, blended learning
Frequency: 14 sessions, weekly block course
Reading List:
·
Various works on HR management (e.g. Holtbrügge, Dirk:
Personalmanagement, 2nd revised ed., Hamburg 2010)
·
Achouris, Cyrus: Systemic Leadership, München 2009.
·
Grasl, Friedrich: Konfliktmanagement: Ein Handbuch für Führungskräfte,
Status April 2013
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·
·
·
·
·
·
·
Berater und Beraterinnen, 9th ed., vol. 2, Wien/Stuttgart 2010
Horvath, Peter (Ed.): Wertschöpfung braucht Werte, Stuttgart 2006.
Küng, Hans: Anständig wirtschaften, München 2010
Meifert, Matthias, T.: Führen, 2nd ed., Freiburg/Breisgau 2011
Meifert, Matthias, T.: Strategisches Talent-Management
Waibl, Elmar: Angewandte Wirtschaftsethik, Wien 2005.
Wickert Ulrich: Redet Geld, schweigt die Welt, 1st ed., Hamburg 2011
Status April 2013
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MA IW 9 S 005
Module Title: MSc Dissertation
Learning Outcomes:
·
·
·
·
·
·
The dissertation reflects the knowledge and understanding students acquired
in the field of real estate management, serving as a platform for original
thinking in the development and application of ideas, especially in a research
context
Proof of the ability of students to apply their knowledge - and use
problem-solving strategies related real estate management - in new and
unfamiliar environments and in a broader or an interdisciplinary context
Ability to assimilate knowledge and handle complex issues, make valid
assessments based on partial information, and all the while bearing social and
ethical responsibility in mind
Ability to communicate conclusions - including their knowledge and logical
reasoning - to both professionals and non-professionals with precision and
without ambiguity
Students developed learning strategies that enable them to self-determine the
course of their studies and to be self-reliant
Students prove their time management and organisational skills to complete
their dissertation on schedule
Module Contents:
·
·
·
·
Independent work on an MSc dissertation, in accordance with exam
regulations, as part of the final examination
Independent organisation and time management of the dissertation
Regular feedback sessions with faculty staff whilst writing the dissertation
Reference to topic-related literature and other scientific material
Module Assistants: Faculty teaching staff
Tuition: 30 hours
Assessment: MSc dissertation (MT) and MSc oral examination (MK)
Participation Prerequisites: subject to university examination guidelines
Teaching Methods: independent research with faculty staff consultation
Frequency: n/a
Location: n/a
Status April 2013
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Reading List:
Although staff may point students in the right direction regarding relevant literature,
students are essentially required to compile their own source material
Status April 2013
Seite 38 von 39

Real Estate Management

Transcription

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