This course aims to provide students with a theoretical and empirical understanding of urban economic processes and price determination in land and real property markets within an institutional context. Examples of topics covered include: the functioning of cities and the urban system; the determinants of urban structure; patterns of urban land use; the determinants of urban growth - theory and evidence; land and real property markets; the impact of land market regulation including the economic impact of land use planning; local public finance and house price capitalisation; real estate cycles; homeownership; commercial real estate. The institutional frame of reference within which the course is taught relates mainly to Western Europe and the United States.