82458 - CONSULTING IN RURAL APPRAISAL

Learning outcomes

At the end of the course, the student knows the methods for the valuation of rural assets and environmental goods, being aware of the complex economic relationships behind market functioning. He/she is able to carry out professional activities applying the more advanced valuation techniques both for privat transactions and for legal procedures.

Course contents

PREREQUISITES

Basic knowledge of Rural Appraisal, with reference to the contents of courses of Bachelor degrees L-25 at the University of Bologna. Those that did not study Rural Appraisal before, or that would like to review the topic, can refer to the textbook  Gallerani et al., 2011. In partocular the prerequistes of the course are: Content, scope and methods of rural appriasal (cap. 1); Valuation of rural assets (cap. 2); Land cadastre (cap. 25); Elements of financial calculus (cap. 27)

 

MODULE 1 (6 hours)

• Review of estimation criteria and valuation techniques. Depending on the different studies and preparation of the students in rural valuation, the main estimation methods are reviewed and the bases of the valuation of rural assets are consolidated.

 

MODULE 2 (20 hours)

• International Valuation Standards (IVS): introduction, basic concepts, types of value, valuation methods, report format.
• Private project valuation. Definition, typology of investments, principles and valuation methods.
• Public project valuation. Object of the valuation and methodological differences in comparison to the private project valuation. Phases of valuation.
• Environmental valuation. Introduction to environmental valuation, estimation criteria, main monetary and non-monetary valuation techniques

 

MODULE 3 (34 hours)

Development of a case study of evaluation by students according with the following modalities:

• the case study is developed during dedicated classes starting almost at the beginning of the course
• Each case is developed by 2 students (max 3)
• The case is chosen by students and can be: a) a real case known by the students; b) a case delivered by the teacher on a topic of interest by the students
• the work is carried out in class using the laptop and with the support of the teacher and assistants, going through the different steps of the analysis of the evaluation question, identification of the evaluation method, data collection, calculation, writing, revisions
• There will be 2 intermediate and one final opresentation, with the objective of sharing the work done and discuss the contents
• The evaluation report will be finalised after the end of the course and sent to the teacher before the exam.

Non of these activities will contribute per se to the final evaluation.

 

Readings/Bibliography

Gallerani V. (2011). Manuale di estimo, McGraw-Hill

Case studies of valuation, available on the book website.

Teaching methods

Module 1 will be a participated lecture with interactive review of the the topics addressed (question, tentative answers, clarifications, summing up)

Module 2 is organised in classroom lectures. Given the practical objectives of the course this will include lectures, presentation of case studies and discussion with students, seminars with professionals (3-4).

Module 3 will consist in practical activities by students; it will include:

• discussion of the topic;
• discussion on information sources;
• calculation;
• writing of the report;
• grup presentation;
• reciprocal comments and dicussion of valuations report.

 

Assessment methods

The evalution is based on the combination of three components:

1. 60% based on a case of valuation developed as a groupwork by students
2. 20% based on individual comments to an aevaluation carried out byother students; comments are presented in written form (1 pag max) and discussed with the teacher during the exam
3. 20% based on a final oral exam on international evaluation standards.

The evaluation of point 1 is based on correctness of setting up, calculation, quality and accuracy of written presentation, language precision.

The evaluation of point 2 is based oin correcteness of observations, calculations and quality and accuracy of writing, language precision.

The evaluation of point 3 is based on the knowldge of the topic and language appropriateness.  

It is possible to carry out the exam in english

 

Students with learning disorders and\or temporary or permanent disabilities: please, contact the office responsible (https://site.unibo.it/studenti-con-disabilita-e-dsa/en/for-students) as soon as possible so that they can propose acceptable adjustments. The request for adaptation must be submitted in advance (15 days before the exam date) to the lecturer, who will assess the appropriateness of the adjustments, taking into account the teaching objectives.

Teaching tools

Textbook, teacher presentation, handouts, data bases

Office hours

See the website of Davide Viaggi