70468 - Economic Assessment of Projects

Learning outcomes

At the end of the course, the student knows the principles and techniques of economic analysis aimed to complete the training in architecture and town planning. In particular, it will be able to understand and apply: - the principles of economics; - the fundamentals of the discipline and the estimation procedures; - the useful evaluation techniques to express the judgments of feasibility and viability.

Course contents

This course supplements the architect's curriculum by correlating the design skills developed by students with the needs and requests expressed by either public or private customers, and by taking into consideration the cost and price system.

The above purpose is meant to encourage the students' awareness that architectural and town planning projects are conceived, defined and implemented within the framework of complex economic relations characterizing the real estate and construction markets. Students are also familiarized with the essential methodological tools for addressing problems linked to project feasibility regarding feasibility (compared to alternative investments) or viability (concerning the spending power).

The first series of lectures focuses on microeconomics, a branch of economics that studies how the behavior of producers and consumers contributes to price determination. The second series of lectures introduces students to the evaluation criteria and processes to be used for the appraisal of housing which already exists or is affected by production processes. The third series of lectures focuses on economic project evaluation techniques.

1. Fundamentals of microeconomics.

2. Real estate appraisal.

3. Evaluation of plans and projects.

Readings/Bibliography

Copiello S. (2011), Progetti urbani in partenariato. Studi di Fattibilità e Piano economico finanziario, Alinea, Firenze.

Realfonzo A. (1994), Teoria e metodo dell'estimo urbano, Nis, Roma.

Aa. Vv. (1995), Manuale di progettazione edilizia, vol VI, Hoepli, Milano.

Delbono F., Zamagni F. (1997), Microeconomia, Il Mulino, Bologna.

Teaching methods

Lectures on the listed topics. Students will be supervised during exercises/coursework.

Assessment methods

Assessment will focus on topics listed in the course program and on the discussion of coursework/exercises. Specifically, the exam will include both theoretical questions and exercises, aimed at verifying the following skills: functioning of the real estate and construction markets; application of the appraisal procedures; application of the valuation techniques. During the course, students will take two intermediate written tests, the results of which may partly replace the final examination.

Teaching tools

Presentations on the topics discussed made available prior to the lectures.

Office hours

See the website of Sergio Copiello