Economics of the Property Market

Together the team at Trinity Online Education, I have developed and launched an online course on the economics of the property market. Perhaps unusually, given the recent history of the Irish housing market, until now, there has been no introductory course to the economics of the property market in Ireland. Property is central to the work undertaken by a wide range of professionals, from engineers and architects to estate agents and solicitors. Professionals engaging with housing on an on-going basis are often under-resourced for their day-to-day work. My course aims to fill this knowledge gap. In addition to professionals working in the housing market, another key audience is interested members of the public, keen to understand the forces at work in one of the most important sectors of the economy and society. The content has a slight Irish bias but is suitable for people interested the property market from anywhere in the world.

This is an introductory e-learning course that explores how housing markets work and describes basic concepts behind the economics of property. The course is entirely online and self-paced, with students given six weeks to complete the four sessions. It aims to equip those taking it with the basic tools to apply economic analysis in the property market. Core concepts, such as shifts in demand and supply, opportunity cost, and general equilibrium effects, will be explored and applied.

  • Session 1: Understanding Markets
  • Session 2: Demand for Property
  • Session 3: Supply of Property
  • Session 4: Public Policy & the Property Market

What – and how – will I learn?

The course is designed so that by the end of it, those who take it will be able to:

  • Outline the basics of supply and demand analysis, and understand different mechanisms, including markets, that can be used to allocating resources.
  • Describe housing demand and its main components, at both an aggregate and an individual level, including the labour market, credit and amenities.
  • Describe housing supply, the importance of how it responds to demand, and its main determinants, including construction and land.
  • Explain the main ways in which housing policy affects housing market outcomes, including mortgage rules, construction sector efficiency, housing subsidies and land use.

The course is delivered through Trinity’s Virtual Learning Environment Blackboard, using videos, interactive presentations, case studies, and additional resources. One optional online tutorial will be made available to students at the end of the course.

Who is this course for?

In addition to interested members of the public, this course is particularly relevant to professionals with a work-related interest in housing and the property market. This includes Estate Agents, Valuers, Landlords, Solicitors, Chartered and Quantity Surveyors, Planners, Financial Analysts, Accountants, BER Assessors, Engineers, Construction Professionals, Active Fund Managers, Pension Fund Administrators, mortgage brokers and other professionals working with mortgages, and those employed in the social housing sector. This online course can be considered towards CPD for professionals, and certificates for completion of the course will be issued upon completion.

Who teaches the course?

I teach the course in its entirety and, if you’re reading this on my webpage, the chances are you know a bit about me. Just in case, here’s a quick overview: I am an Assistant Professor of Economics at Trinity College Dublin, where my research focuses on property markets, in particular long-run housing markets and sustainable real estate. My doctorate at Oxford was on Ireland’s Celtic Tiger housing market bubble and crash. Previously, I worked as an economist for IBM and for Ireland’s National Competitiveness Council. I am a frequent contributor to national and international media on Irish housing and the broader economy. In particular, I am the author of the quarterly Daft.ie Reports on the Irish housing market and a weekly column on the housing market in the Sunday Independent.

When and how do I start?

The number of intakes per year will vary with demand, but so far, there are approximately six per year. Registration is now open for the next intake, which starts on March 25th, and registration closes on Monday, March 11th at 5pm. Register for the course by clicking on the Paypal link on the course’s homepage. Course fees of €300 include access to the course via Blackboard for 6 weeks and a certificate of completion when all multiple choice questions have been attempted. Closing date for course registration is 5pm, Monday 11th of March.