BUSI 460 reflects the increasing emphasis that professional organizations (such as AIC) are placing on preparing the next generation of property consultants and appraisers to develop the skill sets that are critical in successfully meeting the business needs of their clients.
Put one way, it is about thinking for a living. The course emphasizes the importance of and need for creative, critical thinking in problem solving. Such skills are learned and developed through constant effort, but they are difficult to examine (you will note that there is a major project required for the course but not an examination). You will be expected to demonstrate creative, critical thinking in all assignments.
You will find that the course is built within the framework of creative problem solving. The course introduces you to a variety of 'tools' that you can apply within a creative problem solving framework - i.e., decision analysis and forecasting techniques. You will not become a professional forecaster as a result of completing this course. But you will have a better understanding of decision-making processes and an ability to critically analyze forecasts - whether you or someone else prepares them.
BUSI 460 is less about providing "job ready" skills and more about facilitating critical thinking and making more effective decisions. An analogy for BUSI 460 is studying introductory macroeconomics. In this subject there is very little studied that will be directly applied in one's work, but there is no question the subject matter is effective in terms of better understanding how the market operates, the basis for value, and the "big picture". BUSI 460 focuses on similar big picture issues: not specific applications such as step-by-step how to forecast a cap rate for a hotel, but questioning the basis for why you might want to, what you should perhaps be doing differently, and then some basic resources for carrying out such a forecast should it be necessary. Rather than application specifics, it provides a grounding and then an informed starting point for further study on your own.
You will learn about solving the RIGHT problem, and then about solving that problem in the right WAY - all without losing sight of your client's business context. You will find that the client's perspective is emphasized throughout the course.