房地产金融-graduate.docVIP

Fall 2010 Real Estate Finance Instructor: Weida Kuang 况伟大 Time：14:00－15:30 Location: Room 0306, Main Building Office: Room 821, Mingde Business Building Telephone：座机电话号码E-mail: weidakuang@ruc.edu.cn Course Discription This course examines the real estate debt market and real estate equity market. The real estate debt market includes primary mortgage market, subprime mortgage market and secondary mortgage market. The real estate equity market contains real estate investment trusts and real estate listed companies. In addition, this course also discusses the relationship between real estate and macroeconomy. Textbook and References Textbook: Real Estate Finance and Investment, 13th Edition, William B. Brueggeman and Jeffrey D. Fisher, McGraw-Hill, Irwin, 2006 Reference Books: 《房地产融资与投资》（原书第11版），布鲁格曼和费雪著，中译本，机械工业出版社，2003年7月1日 《房地产金融—原理和实践》（原书第3版），克劳瑞特和西蒙著，中译本，经济科学出版社，2004年12月 Requirements and Grade Exam: 50% Class Presentations and Participation: 50% Outline Part 1: Introduction Section 1: Real Estate and Real Estate Market The Definition and Characteristics of Real Estate The Types of Real Estate Markets The Relationship of Real Estate Finance and its Correlated Disciplines Recommended Reading: Chapters 1 and 2 in the textbook 丹尼斯·迪帕斯奎尔威廉·C·惠顿Fujita, Masahisa; Krugman, Paul and Venables, Anthony J. The Spatial Economy: Cities, Regions and International Trade. Cambridge, Mass: MIT Press, 1999. 谢经荣、朱勇、曲波、周健、朱海洪、丰雷，《地产泡沫与金融危机》，经济管理出版社，2002。 Part 2: Real Estate Debt Markets Section 2: Real Estate Mortgage Market The Evolution of Mortgage Market Prime Lending Market Subprime Lending Market Recommended Reading: Chapters 4, 5, 6, 9, 12 in the textbook Papers for Presentations: 2 Brueckner, Jan K. “Mortgage Default with Asymmetric Information.” Journal of Real Estate Finance and Economics, Vol.20, 3, 2000, pp.251-274. 3 Cutts, Amy Crews and Van Order, Robert A. “On the Economics of Subprime Lending.” The Journal of Real Estate Finance and Economics, 30, 2, 20