Student guide Facoltą di Economia A.A. 2010/11

Economics and the city - How to use financial and economic analysis to shape cities
Aim of the course
Both public and private sectors need well-trained professionals to analyze and manage investment projects rooted in specific urban territory and aimed at boosting local economic performance.
These professionals help optimize ROI, reduce investment risk, and maximize positive economic impact, which in turn help cities, regions, or commercial real estate owners/developers attract private investment. 
The course aims to provide students with the economic and financial analysis tools necessary to design, assess and manage investment projects that depend on local economic factors and influence local economic development.
Both corporate and public investment projects will be considered, particularly those with real estate and infrastructural components.
The objective is to empower students with the capacity to interpret and carry out territory-based investment projects. The course integrates different disciplines (regional and urban economics, corporate finance, urban planning) endowing students with an original set of analytical tools to be implemented in the field.
The course will consist of six three-hour sessions that merge theory and practical application. The course is designed to foster students’ ability to integrate theory and conceptual understanding with practical experience and implementation.
Note: practical application sessions are based on case studies and in class team work.
New approaches are illustrated, especially in the field of urban economics, economic geography, industrial policy and economics of innovation. Among them:
-         Local Innovation Systems
Readings: Andreas Rodriguez-Pose e Riccardo Crescenzi, R&D, Spillovers, Innovation Systems and the Genesis of Regional Growth in Europe (BEER paper n. 5)
-         New approaches in industrial policy at the regional level
Redings: Dani Rodrik: The Return of Industrial Policy (published article)
-         New approaches in urban economics
Readings: Edward Glaeser: What a City Needs (published article)
Practical application
Students learn how to manage a set of tools for the financial and economic analysis of territorial investment projects. These sessions require university level knowledge of corporate financial analysis and statistics for social sciences.
This part of the course is organized in six sessions and will cover the following topics:
- Using socio-economic market research tools to examine a territorial investment project;
- Building and analyzing a financial and economic feasibility study and an economic impact study;
- Gathering and interpreting local economic data and statistics;
- Assessing relationships between urban planning and urban economics;
- Scouting economic opportunities and attracting investment capital.

Geltner-Miller, Commercial Reat Estate, Analysis & Investments, Cengate Learning, 2007
Downtown Madison Market Analysis, 2007 (University of Wisconsin Extension)
Note: supplemental readings will be made available in class
Class team work and class presentations are both very important for the final evaluation.
Attending students
Final evaluation based on:
Class presentation worth 30%
Written exam worth 70%
Non attending students: please contact the instructor