Course Outline

BUSI 344: Statistical and Computer Applications in Valuation

General Objective: Introduce statistical and computer applications appropriate to valuation work, in all areas of real estate practice. Course will cover theory and principles, illustrations and examples of practical application, plus case studies requiring hands-on computer work (e.g., SPSS/PASW, NCSS, Excel).

Course structure: Weekly multiple choice assignments (10% of final grade), two term projects (40% of final grade, in total), and a final examination (50%).

Prerequisites: No mandatory prerequisites. Recommend BUSI 121 and BUSI 330.

Software: Requires Microsoft Excel and either SPSS/PASW or NCSS. See the Statistical Software page for more information.

Syllabus:

LESSON NO. 1 - Statistical Foundations for Real Estate Analysis

LESSON NO. 2 - Statistical Software Applications for Real Estate Analysis

LESSON NO. 3 - Exploratory Data Analysis

LESSON NO. 4 - Market Identification and Property Characterization

LESSON NO. 5 - Statistical Analysis and Computer Applications Case Studies

LESSON NO. 6 - Basics of Model Building

LESSON NO. 7 - Model Building using Multiple Regression Analysis

LESSON NO. 8 - Comprehensive Model Building – Data Screening and Testing

LESSON NO. 9 - Automated Valuation Models (AVMs)

LESSON NO. 10 - Geographic Information Systems (GIS)

Projects:

Weekly multiple choice assignments (10% of final grade)

Project 1: Statistical and Computer Valuation Applications (15% of final grade)

Project 2: Valuation Modelling Case Study (25% of final grade)

Final exam: Multiple choice and short-answer, written questions (50% of final grade)

Additional Resources