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課程名稱 |
不動產融資與投資
Real Estate Finance and Investments |
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開課學期 |
108-2 |
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授課對象 |
管理學院 國際企業學系 |
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授課教師 |
盧秋玲 |
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課號 |
IB5069 |
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課程識別碼 |
724 U9800 |
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班次 |
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學分 |
3.0 |
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全/半年 |
半年 |
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必/選修 |
選修 |
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上課時間 |
星期二A,B,C(18:25~21:05) |
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上課地點 |
管一402 |
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備註 |
限學士班三年級以上
總人數上限：50人
外系人數限制：25人 |
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Ceiba 課程網頁 |
http://ceiba.ntu.edu.tw/1082IB5069_ |
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課程簡介影片 |
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核心能力關聯 |
本課程尚未建立核心能力關連 |
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課程大綱
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課程概述 |
1. What is Real Estate? Finance and Real Estate?
2. Characteristics of Real Estate
3. Residential Real Estate Finance
4. Commercial Real Estate Finance
5. Real Estate Capital Market
6. Mortgage Market
7. Mortgage Backed Security
8. Special Topics in Real Estate Finance and Investments
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課程目標 |
The purpose of this class is to provide students with the most fundamental concepts, principles, analytical methods and tools useful for making investment and finance decisions regarding real estate assets. This course focus on issues pertains to portfolio, firm level, and investment management considerations. We try to apply the theoretical aspects of financial economics to explain how real estate financial institutions and markets have evolved. |
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課程要求 |
Students are expected to attend all classes, to have read assigned readings, to have prepared assigned cases, and to answer questions raised.
There are two case studies and one company report that are due at the start of the class on the day which they are assigned. We will select groups randomly to make their presentations to peers. Group members will be assigned randomly and each group consists of no fewer than four or more than five students.
Laptops are allowed in class for note-taking purposes and presentation purposes only. Web-surfing, e-mailing, and internet chatting during lecturing are not permitted.
Financial calculator is required and will be used in class.
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預期每週課後學習時數 |
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Office Hours |
每週三 14:00~16:00 |
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指定閱讀 |
1) Required:
Real Estate Finance and Investments, 16th ed., 2019, William Brueggeman and Jeffrey Fisher, McGraw-Hill (華泰文化圖書公司).
2) Case:
1. Time Value of Money: The Buy versus Rent Decision (Ivey: W14403)
2. Toward Golden Pond (A) Harvard Business School 9-210-045 |
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參考書目 |
Real Estate Finance – Theory and Practice 6th ed., 2010, Terrence M. Clauretie and G. Stacy Sirmans, Thomson South-Western. |
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評量方式
(僅供參考) |
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No. |
項目 |
百分比 |
說明 |
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1. |
Project report |
20% |
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2. |
Final Examination |
50% |
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3. |
Case |
30% |
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週次 |
日期 |
單元主題 |
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第1週 |
3/03 |
Introduction:
Finance Theory and Real Estate |
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第2週 |
3/10 |
Ch. 2: Financing: Notes and Mortgages |
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第3週 |
3/17 |
Ch. 3: Mortgage Loan Foundations: The Time Value of Money |
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第4週 |
3/24 |
Ch. 4: Fixed Rate Mortgage Loans |
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第5週 |
3/31 |
Ch. 5: Adjustable Rate Mortgages |
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第6週 |
4/07 |
Ch. 6: Residential Financial Analysis |
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第7週 |
4/14 |
Case I |
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第8週 |
4/21 |
Ch. 8: Underwriting and Financing Residential Properties |
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第9週 |
4/28 |
Ch. 9: Introduction to Income-Producing Properties:
Leases, Rents, and the Market for Space |
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第10週 |
5/05 |
Ch. 10: Valuation of Income Properties: Appraisal and the Market for Capital |
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第11週 |
5/12 |
Ch. 15: Financing Corporate Real Estate |
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第12週 |
5/19 |
Ch. 19: Overview of Securitization |
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第13週 |
5/26 |
Case II
Ch. 20: Development of Mortgage Related Securities |
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第14週 |
6/02 |
Ch. 21: Real Estate Investment Trust |
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第15週 |
6/09 |
Project report |
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第16週 |
6/16 |
Final Preparation |
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第17週 |
6/23 |
Final Examination |
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第18週 |
6/30 |
Case discussion |
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