Our curriculum is built on four core courses -- Aggregate Economic Analysis, Real Estate Finance, Real Estate Law and Real Estate Development -- each designed to give you a profound understanding of issues touching all aspects of the real estate industry. Innovative electives let you zero in on particular parts of the real estate industry that interest you.
- Acquire a working knowledge of mortgage markets and financing alternatives
- Use market and lease information to value income-producing property and assess the risks inherent in investment in property markets
- Evaluate rewards and risks associated with a potential development opportunity
- Use market and demographic information to determine the best use for a given property
- Understand how legal issues impact and shape the selection, acquisition, development, financing, ownership, and management of real property
Aggregate Economic Analysis [22:223:520]
Introduces theory and empirical estimation of aggregate economic relationships, including the general price level, income, output, employment, and wages. Covers national income accounting and other economic data sources, consumption, investment, the banking system, and the supply of and demand for money, interest rates, prices, wages and employment, business fluctuations, and international economics.
Real Estate Finance [22:390:695]
The central objective of this course is to provide you with the background and tools necessary to analyze value, risk, and return in property markets.The initial emphasis of the course is on mortgage finance and applications and is dedicated to providing an understanding of mortgage structure and mechanics in both residential and commercial markets. The focus then shifts to the evaluation of investment in property markets from the perspective of an institutional investor. This is accomplished by developing projections of future cash flows from a given property and using them to construct measures of value, risk and return and consider their sensitivity to changes in base assumptions. Extensions include tax issues, the relationship between value, returns and leverage, structuring the distribution of cash flows in partnership agreements and/or real options. The course also provides extensive training and certification in ARGUS, a real estate industry-standard software package used for entering and compiling lease information.
Real Estate Law [22:851:650]
This course provides an overview of the legal issues which confront the real estate executive from the commencement of a real estate transaction and throughout the relationship between the parties to such transactions. While many traditional real property law concepts will be covered, the course is intended as an introduction to the transactional aspects of the real estate business, including acquisition, disposition, development, investment, management, leasing, tax implications and negotiations. At the conclusion of the course, students will have the ability to function with respect to these matters in many of the various aspects of real estate business.
Real Estate Development [22:851:632]
This course provides an introduction and overview of real estate development of urban places, including the many challenges of the development process such as analyzing market sectors and development opportunities, comprehending the development context of regulation, public policy and politics, raising investment capital, assembling land, program formulation, building types, construction management, marketing, and sales. Examples of development projects will be presented, each focusing on particular aspects of the overall process.
Real Estate Capital Markets [22:390:673]
Real Estate Capital Markets focuses on debt and equity issues in secondary markets that derive their value from real assets. The course includes an overview of the US mortgage finance system, agency and non-agency residential mortgage-backed securities, structured mortgage products such as collateralized mortgage obligations, collateralized debt obligations and stripped securities, commercial mortgage-backed securities, real estate investment trusts and limited partnerships. Coursework involves basic fixed-income mathematics and cash flow modeling in Excel.
Market Analysis and Valuations [22:851:630]
This course surveys the principles and tools of appraising various types of real estate, as well as an analysis of value, price, property, and legal rights. Topics include principles of valuation; the real estate market; the relationship between real estate values and economic, social, and government trends; economics of urbanization, including location, value, and highest and best use; neighborhood analysis and approaches to cost, market data, and income valuation.
Advanced Financial Management [22:390:605]
Examines the problems faced by the corporate financial manager on the theoretical, analytical, and applied levels. The impact of the financing decision upon the value of the firm is analyzed. Theoretical and analytical aspects of the capital budgeting decision are examined in detail with emphasis on methods of incorporating risk into the capital budgeting decision. An analytical framework is presented to evaluate leasing, bond refunding, and mergers and acquisitions. Theories of corporate governance are discussed.
Urban Entrepreneurship & Economic Development [22:620:672]
This course is designed for students who exhibit high degrees of self-direction and significant interest in urban issues, entrepreneurship, and/or economic development. Students will be challenged to work individually and in teams on projects, reports, and research at the intersection of business, community development, new venture creation, urban policy, and economic development.
The course will explore the many dimensions of urban entrepreneurship and economic development through an exploration of the business and policy issues, the use of action research methods and the development and completion of consulting projects. The location of the course in Newark provides a unique opportunity to have the city become a laboratory for student education in the areas of urban entrepreneurship and economic development. Students in this course will be directly involved in the economic development initiatives of Rutgers-Newark and The Center for Urban Entrepreneurship & Economic Development.
Property Management and Real Estate Investment Management [22:851:660]
The course will take students through the world of real estate investment management, management company organization, and the role and responsibilities of the property and asset managers. Topics include real estate operations, types of ownership, property leasing & governance, financial and risk management, property accounting, financial reporting, tax treatment, acquisitions & sales, and strategic planning.
As a Real Estate MBA, there are a variety of career options available to you in a range of commercial sectors:
- Investment analysis
- Asset management
- Commercial and residential brokerage
- Commercial and investment banking
- Property management
- Mortgage brokerage
Inroads to Industry
As an MBA in Real Estate, you'll have access to industry leaders through the newly created Center for Real Estate, which will help provide mentoring, internships and career opportunities in the real estate profession.
The Center is supported by a 70-member advisory board made up of the most influential and innovative real estate firms in the New York/New Jersey metropolitan area who will serve as guest speakers and hire Rutgers graduates. Members of the Advisory Board include CEOs and senior executives at top-tier firms.