This course will consider the economic and financial issues that are of fundamental importance in the analysis of real estate investment. The objective is to combine the analytic framework of financial economics with the real-world features of real estate investment and financing markets. The course will 1) help students understand residential housing price movements; 2) familiarize students with the key elements of the real estate investment decision process in both commercial and residential real estate markets; and 3) establish a meaningful framework within which students can identify real estate opportunities and manage the associated risks.