Course descriptions

Descriptions of all courses offered by the Real Estate Division are found in this section, listed by course numbers. For a detailed course outline, click on the course number below.

Some notations:

• BUSI denotes a course in the Diploma in Urban Land Economics Program or Bachelor of Business in Real Estate Program, AIC Program, or Certificate Program in Real Property Assessment.
• (3) denotes designation of academic credits to course.
• (Prerequisite BUSI 121) denotes required prerequisite(s) for a particular course.
• (Recommend BUSI 121) denotes a course that is recommended to be completed prior to enrolling, but is not a prerequisite.
• [WTI, WTII, STI] denotes the terms a course is offered in:
• WTI - Winter Term I: September to December
• WTII - Winter Term II: January to April
• STI - Summer Term I: May to September

BUSI 100 (3) Micro Foundations of Real Estate Economics  Hi hi hi

This course introduces the basic principles of microeconomics and applies these concepts to current real estate issues. Topics covered include opportunity costs, supply and demand, elasticity, market equilibrium, efficiency and equity, the role of the government, consumer choice, externalities, imperfect competition, and monopolies. Textbook sold separately: Principles of Microeconomics (8th Canadian Edition), Mankiw, $125 (plus taxes, study guide included). Can be purchased directly from the Real Estate Division's Online Bookstore. [WTI, WTII, STI]

BUSI 101 (3) Capital Markets and Real Estate  Hi hi hi

This course examines the impact of current monetary and fiscal policies on real estate investment decisions. The overall quality of production and the overall price level are used to monitor developments in the economy as a whole. The monetary system is studied as a crucial element in determining the long-run behaviour of price levels, the inflation rate, and other nominal variables. Monetary and fiscal policy is analyzed through open and closed economies. Textbook sold separately: Principles of Macroeconomics (8th Canadian Edition), Mankiw, $125 (plus taxes, study guide included). Can be purchased directly from the Real Estate Division's Online Bookstore. (Prerequisite BUSI 100) [WTI, WTII, STI]

BUSI 111 (3) British Columbia Real Property Law and Real Estate Ethics Hi hi hi

This course is designed for individuals entering the real estate sales field. The course examines questions such as: What is real property? How are assets and interests in real property created and traded? BUSI 111 also examines a broad range of legal topics, including contracts, agency, mortgages, residential and commercial tenancies, registration of real property, overview of tort law, condominium law, and the legislation which affects real property transactions. The role of professionalism and ethical standards will also be dealt with in a general context as well as in the specific context of the real estate industry. The BCFSA recognizes this course for licensing education exemption purposes. For details on licensing education exemptions, please see the BCFSA Education Guidelines. [WTI, WTII, STI]

BUSI 112 (3) Canadian Real Property Law and Real Estate Ethics Hi hi hi

This course covers similar topics as BUSI 111, but focuses the application of real property law across Canada and in sectors of real estate other than sales. However, please note that the majority of cases relied upon are from British Columbia. If you would prefer to take a law course specific to your province, see the Course Equivalency Matrices for recognized college or university courses available in your area. Note that the BCFSA does not recognize this course for licensing education exemption purposes. [WTI, WTII, STI]

BUSI 121 (3) Foundations of Real Estate Mathematics Hi hi hi

This course introduces the techniques of investment and statistical analysis in a real estate context. Topics include: statistical techniques, cash flow analysis, discounting, compounding, and the mathematics of real estate finance and investment analysis. There is also a brief overview of graphing and surveying. A personal computer with spreadsheet software is required. [WTI, WTII, STI]

BUSI 221 (3) Real Estate Finance in a Canadian Context Hi hi hi

The supply of and demand for mortgage funds in the Canadian mortgage market is examined. Students will apply the principles of real estate financial analysis to a variety of topics, including: residential and commercial loan underwriting, loan refinancing, and creative real estate financing methods. Students will learn the evolution of financing techniques in light of both the inherent risks in mortgage lending and the external influences of inflation and government policy. (Prerequisite BUSI 121) [WTI, WTII]

BUSI 293 (3) Introductory Financial Accounting Hi hi hi

Introduction to the construction and interpretation of financial reports prepared primarily for external use. If you would prefer to take an accounting course in your location, see the Course Equivalency Matrices for recognized courses available in your area. [Please note, BUSI 293 is offered through the Diploma in Accounting Program (DAP) and separate program regulations and fees apply; contact the DAP office for more information and registration instructions. Please also note that the textbook for this course must be purchased separately through the UBC Bookstore ] [WTI, WTII]

BUSI 300 (3) Urban and Real Estate Economics Hi hi hi

This course examines urban and real estate economics, illustrating how economic principles affect the demand for real estate, the operation of real estate markets, and the relationship between land use, land value and location. The overall objective of the course is to introduce the most important issues and topics in the study of cities and real estate markets, and to show how microeconomic principles can be used to critically analyze these problems. (Prerequisite BUSI 100; Recommend BUSI 121) [WTI, WTII, ST1]

BUSI 330 (3) Foundations of Real Estate Appraisal Hi hi hi

Introduction to concepts and techniques for the valuation of real estate. This course begins with an introduction to the appraisal profession in Canada and an overview of the valuation process. The three classic approaches to value are presented and analyzed as they may be applied to residential and commercial properties. Textbook sold separately: Appraisal of Real Estate (Canadian Edition) is required for BUSI 330 and recommended for BUSI 331, 352, 442 and 452. (Recommended BUSI 100, 101, 121; note that BUSI 121 is an elective for AIC's CRA designation)[WTI, WTII, STI].

BUSI 331 (3) Real Estate Investment Analysis and Advanced Income Appraisal Hi hi hi

Valuation techniques for income real estate, including income method of appraisal, tax consequences of real property ownership, and portfolio analysis methodology. A personal computer with spreadsheet software is required for this course. (Prerequisite BUSI 121 & 330) [WTI, WTII, STI]

BUSI 344 (3) Statistical and Computer Applications in Valuation Hi hi hi

Explores creative, practical uses of statistical and computer applications in determining and analyzing real estate value. Through case studies and hands-on computer work (e.g., using SPSS/PASW, NCSS, Excel), students will learn the fundamentals of exploratory data analysis and appraisal valuation modeling (AVMs). Additional requirements: statistical software required. (Recommend BUSI 121 and 330) [WTI, WTII, STI]

BUSI 352 (3) Case Studies in Residential Appraisal Hi hi hi

This course illustrates the practical application of techniques for residential real estate appraisal. The case studies build upon foundational appraisal principles in examining a wide range of valuation assignments, including: market and feasibility studies, land valuation, multiple-unit residential buildings, rural properties, expropriation, review appraisal, and an assortment of specialized areas in real estate valuation practice. (Prerequisites BUSI 330. Recommend BUSI 121 and/or BUSI 344) [WTI, WTII, STI]

BUSI 398 (4) Residential Property Guided Case Study Hi hi hi

This two term course will guide students through the appraisal process for residential properties, focusing both on valuation techniques as well as general research and report writing skills. This course fulfils the Appraisal Institute of Canada’s guided case study requirement for CRA designation, and is designed to be completed as the final course in the CRA designation program. Textbook sold separately: The Appraisal of Real Estate, Third Canadian Edition. Can be purchased directly from the Real Estate Division. (Prerequisite BUSI 330 & 352 - Required as of January 1, 2016). Students are responsible for additional fees for title searches and other necessary documents [WTI, WTII, STI]

BUSI 400 (3) Residential Property Analysis Hi hi hi

This course is designed to give real estate professionals, particularly appraisers, a working knowledge of the physical aspects of residential properties. The course covers how houses are sited, designed, and constructed in Canada, as well as how factors such as design, material selection, and construction type affect their value. Also covered will be the identification and evaluation of problems due to design, construction, or deterioration, their effect on value, and how problems should be reported. [WTI, WTII, STI]

BUSI 401 (3) Commercial Property Analysis Hi hi hi

This course covers the underlying theory and techniques used in the design, construction, and inspection of commercial properties. The course will examine office, retail, apartment, industrial, and agricultural properties, as well as environmental issues and space measurement. [WTI, WTII, STI]

BUSI 425 (3) Land Use Regulation: Local Government Law and Planning Hi hi hi

This course provides a general understanding of the land use regulatory process and the laws that govern that process. (Under development; normally an additional. "Real Estate Specialty/Elective Course", may be taken in lieu until such time as it is available)

BUSI 433 (3) Real Estate Business Hi hi hi

Overview of business and management principles involved in establishing and operating a business in real estate. Topics include entrepreneurship, business strategy, client relations, finance, accounting, human resources, marketing, technology, and succession planning. [WTI, WTII, STI]

BUSI 441 (3) Residential Property Management Hi hi hi

This course is devoted to topics relevant to the management of rental and condominium residential properties. The fundamentals of property management law, financial statements and budgeting, marketing and leasing, maintenance and procurement, personnel issues, insurance and risk management, security and safety concerns, and design and construction are covered. (Prerequisite BUSI 331, Recommend BUSI 400) [WTI, WTII]

BUSI 442 (3) Case Studies in Appraisal I Hi hi hi

This course illustrates the practical application of techniques of real estate appraisal. The case studies build upon foundational appraisal principles in examining a wide range of valuation assignments, including: multiple-unit residential buildings, industrial uses, office buildings, retail properties, land valuation, agricultural uses, expropriation, and review appraisal. Investment decisions will be analyzed from various perspectives. (Prerequisites BUSI 121, 330, & 331) [WTI, WTII, STI ]

BUSI 443 (3) Foundations of Real Property Assessment and Mass Appraisal Hi hi hi

This course examines the basis for real property assessment and taxation systems and the administration of the mass appraisal function. Topics include assessment law, mass appraisal processes, data collection and management, strategic management, quality assurance, public relations, and human resource management. The course offers background on computer-assisted mass appraisal, outlining valuation foundations, and geographic information system integration. (Recommend BUSI 330) [WTI, WTII, STI]

BUSI 444 (3) Advanced Computer Assisted Mass Appraisal Hi hi hi

This course builds on computer-assisted mass appraisal techniques introduced in BUSI 344. Students use statistical software to develop models designed to improve the consistency and quality of real property assessments. Note that this course has a take-home examination that extends beyond the end of term. Additional requirements: statistical software required. (Prerequisite BUSI 121 & 344; Recommend BUSI 330 & 443) [WTI, WTII] 

BUSI 445 (3) Real Estate Development I Hi hi hi

Introduces the student to the real estate development process, providing an overview from the project idea to the cursory feasibility stage. The steps in development planning that will be investigated are analysis, design, and evaluation. Topics include evaluating development potential, land acquisition, and site planning. (Recommend BUSI 330 and 331) [WTI, WTII]

BUSI 446 (3) Real Estate Development II Hi hi hi

Continues the analysis of the real estate development process introduced in BUSI 445, with an examination of economic feasibility studies, approval processes, project financing, construction, project management, and marketing phases. (Prerequisite BUSI 445) [WTI, WTII]

BUSI 451 (3) Commercial Property Management Hi hi hi

This course explores topics relevant to the management of commercial properties. Topics covered include tenant relations, budgeting, marketing, insurance, and remedying disputes. Textbook sold separately: Managing and Leasing Commercial Properties is required. $119.00 (plus GST). (Prerequisite BUSI 331; Recommend BUSI 441) [WTI, WTII]

BUSI 452 (3) Case Studies in Appraisal II Hi hi hi

This course continues BUSI 442's study of practical applications of real estate appraisal techniques. The case studies build upon foundational appraisal principles in examining a wide range of valuation assignments, including: business valuation, machinery and equipment, hotels, impaired properties, market analysis/feasibility studies, and an assortment of special purpose properties. The readings conclude with an examination of various specialized areas in real estate valuation practice. (Prerequisites BUSI 121, 330, & 331; Recommend BUSI 442) [WTI, WTII, STI]

BUSI 460 (3) Real Estate Consulting Fundamentals Hi hi hi

This course develops the real estate professional's capabilities for offering high-level advisory services. With a focus on critical analysis, the course will delve into two quantitative decision making methodologies: decision analysis and forecasting. These methodologies will be explored through a problem solving framework. (Prerequisite BUSI 121; Recommend BUSI 330) [WTI, WTII]

BUSI 497 (6) Agricultural Guided Case Study Hi hi hi

An agriculturally-focused version of BUSI 499 Income Property Guided Case Study course. This course fulfils the Appraisal Institute of Canada's guided case study requirement. (Prerequisite BUSI 330, 331, 442, & 452). Textbook sold separately. Can be purchased directly from the Real Estate Division's Online Bookstore. Students are responsible for additional fees for title searches and other necessary documents.[WTI, WTII, STI]

BUSI 499 (6) Income Property Guided Case Study Hi hi hi

This two term course will guide students through the income property appraisal process, focusing both on valuation techniques as well as general research and report writing skills. This course fulfils the Appraisal Institute of Canada's guided case study requirement, and is designed to be completed as the final course in AIC’s designation program. (Prerequisite BUSI 330, 331, 442, & 452). Textbook sold separately: Appraisal of Real Estate (Canadian Edition). Can be purchased directly from the Real Estate Division's Online Bookstore. Students are responsible for additional fees for title searches and other necessary documents[WTI, WTII, STI]

URST 400 (3) Urban Studies

This course examines: urbanization and the Canadian urban system, including urban metropolitan areas and their relationship to their hinterland; and the evolution of the metropolitan form and the inner workings of the city, including the process of social differentiation, the role of transportation in city building and the major land-use markets. Contemporary issues facing cities, which fall under the purview of local government and community planning, are also addressed. [not presently offered; alternative offering GEOG 350]

Professional Development Courses
(No prerequisites) [Open enrollment]