Total mark: 30
DUE: 1pm – Friday 07 May 2021
The role of housing market in an economy is very important and dynamic. This essay is an opportunity for you to explore some aspects of the housing industry – and in the process help inform and support your Research Project work.
- (5 marks): Using the data provided, graph the house price (level)data series at both national and capital city level. Briefly comments on the major movements. Documents the maximum, minimum and average monthly growth rates (percent change) in a table.
- (10 marks): Provide a reasonably detailed account of the evolution of both the national and the capital city level house price growths. What might be the key drivers behind each major movements?
- (10 marks): Briefly outline key changes in the housing market policies since 1980, what was the policy, what were the rationale and what were the consequences?
- (5 marks): Explain how you will use the insights obtained in part (a-c) to carry out your research project.
- R. Varian (2016), “How to Build an Economic Model in Your Spare Time”, The American Economist, Vol. 61, Number 1, pp. 81–90.
- Nikolov (2013), “Writing Tips for Economics Research Papers”
- Pischke (2009), “How to get started on research in economics”,
Available at: http://econ.lse.ac.uk/staff/spischke/phds/How%20to%20start.pdf
- Powers (2012), “How to Write a Research Paper in Economics” Available at: https://eml.berkeley.edu/~webfac/eichengreen/e191_sp12/ powers_econ191_1-17-12.pdf