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  5. Marine And Coastal Resource Management
  6. MR4016: VALUATION AND MARINE DEVELOPMENT

MR4016: VALUATION AND MARINE DEVELOPMENT (2014-2015)

Last modified: 28 Jun 2018 10:27


Course Overview

The main objectives of this course are to: understand the formal processes and procedures adopted in the UK in the approach to the valuation of property; be aware of the various purposes for which valuations are required; understand the fundamental principles of the five methods of valuation used to value different property interests and how these may be applied in a marine environment context; be able to critically appraise these five valuation methods; understand the mechanisms of property development in a marine environment context and its risks and rewards.

Normally only available to students registered for the BSc MCRM

Course Details

Study Type Undergraduate Level 4
Term First Term Credit Points 15 credits (7.5 ECTS credits)
Campus Old Aberdeen Sustained Study No
Co-ordinators
  • Dr David Green

What courses & programmes must have been taken before this course?

None.

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

None.

Are there a limited number of places available?

No

Course Description

Course Aims:
  • To understand the formal processes and procedures adopted in the UK in the approach to the valuation of property.
  • To be aware of the various purposes for which valuations are required.
  • To understand the fundamental principles of the five methods of valuation which are used to value different property interests and how these may be applied in a marine environment context.
  • To be able to critically appraise these five valuation methods.
  • To understand the mechanisms of property development in a marine environment context and its risks and rewards.
Main Learning Outcomes:

Knowledge and Understanding

Upon completion of the course, students should:
  • Be aware of how the property markets in the UK function and their relationship with the national economy.
  • Be able to use different valuation methods in context.
  • Recognise the need for experienced valuers to undertake property valuations, how such valuations are undertaken and reported, and their implications.
  • Be able to evaluate the accuracy and appropriateness of the various methods of property valuation.
  • Appreciate the varied aspects of the development process including marine development in the UK.

Professional and Transferable Skills

Students should develop their:
  • Written communication skills through the preparation of a 3,000 word professional report.
  • Verbal communication skills through working as part of a small team which has specific targets to achieve.
  • Research skills via problem definition and the identification and analysis of property data.
Course Content:
  • An introduction to the property markets in the UK incorporating the concept of value, the distinguishing features of these markets and the different types of legal interests in property.
  • An examination of the principle methods of property valuation including the need to assimilate and analyse all relevant evidence in a forensic fashion.
  • An understanding of the practical application of property valuations including the workings of the RICS Valuation Standards.
  • An understanding of the planning regime in Scotland relative to the development process.
  • An appreciation of the variable factors involved in valuations concerned with development.

Contact Teaching Time

Information on contact teaching time is available from the course guide.

Teaching Breakdown

More Information about Week Numbers


Details, including assessments, may be subject to change until 30 August 2024 for 1st term courses and 20 December 2024 for 2nd term courses.

Summative Assessments

1st Attempt: Coursework: a) ~3,000 words professional property report assignment (33%); b) 2-hour examination (67%).
Resit: A resit for this course is not normally available until the following academic year.

Formative Assessment

There is no stand-alone, formal formative assessment.

Feedback

Students will receive individual, written feedback on their summative coursework using our standard comments sheets.

Course Learning Outcomes

None.
 

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