Text: (required) D. Geltner & N. Miller, "Commercial Real Estate Analysis & Investments", South-Western College Publishing Co., Cincinnati, 2001 (ISBN# 0-324-13676-5) (www.swcollege.com).

Reading Packet: A reading packet should be purchased from Copy Tech.

Argus: Students will be required to buy a student version of the "Argus" real estate analysis software from The Realm (www.therealm.com).

Calculator: A financial calculator is required, of a type that can do discounted cash flow and internal rate of return calculations (DCF, IRR). The Hewlett-Packard HP-10B will be used for in-class examples.

In addition to twice-weekly lectures, there will be weekly recitation classes. These will be used to review homework assignments and to present the case and term project designed to supplement the lectures. The recitation instructor will present cases and other supplemental material. The teaching assistant will serve as the exam and homework grader (with appeals to the primary instructor). Recitation attendance is strongly advised always, but is mandatory only when the case and term projects are introduced and when they are due.

The grade will be based primarily on two exams. A significant part of the grade will also come from one case study and a term project. There will also be a number of problem sets (approximately weekly) which will be discussed in recitation and graded very leniently. A problem set (PS) handed in on time and exhibiting a good faith effort will receive a "check" and get full credit (even if all the answers are wrong). Answer sheets will be handed out by the Teaching Assistant (TA) and made available on the course web site when the PS is due. Problem sets handed in late or lacking evidence of good faith effort (some written attempt to answer all questions) will receive a "check-minus" and receive only half credit. The problem sets are intended primarily as study aids, to help prepare you for the quizzes and exam. The case and term project will be graded by the recitation instructor and late assignments will not be accepted. Overall course grading will be approximately as follows:

EXAMS GRADES Exam 1 30.0% Exam 2 30.0% Term Project 20.0% Case(s) 20.0% Problem sets 10.0% Total 100%