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School of Real Estate and Planning University of Reading

Developing a Global Benchmark of Excellence in the Provision of Postgraduate Real Estate Education – The Case of the MSRE. School of Real Estate and Planning University of Reading. Introduction.

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School of Real Estate and Planning University of Reading

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  1. Developing a Global Benchmark of Excellence in the Provision of Postgraduate Real Estate Education – The Case of the MSRE School of Real Estate and Planning University of Reading

  2. Introduction • Significant Expansion in both Full-Time and Flexible modes of Postgraduate Real Estate Education since 2000 • An international trend but largely spontaneous in character • MSc/MA in Real Estate has emerged as the dominant designation • Presentation explores the potential for developing this designation as the recognised global benchmark of excellence in the provision of entry-level and post-experience postgraduate real estate education. • common curriculum development, • accreditation • industry recognition • potential role of ERES, ARES and IRES in developing appropriate framework to achieve this goal

  3. Trends in Provision Source: RICS

  4. Trends in Provision • RICS Universe an imperfect indicator • Many programmes outside this • Nordic Countries • Figures also include programmes in Construction • PG Provision more important everywhere • Key Growth in PG Routes in Continental Europe • Similar trends in the United States • US now has 19 MSRE type programmes (up from 4 in 2000) • Again a mixture of FT and PT routes • Also conversions from MBA format to MSRE format • UG Provision Largely confined to Countries with longstanding tradition of Real Estate Education • Ireland, UK, The Netherlands

  5. The Rational for Creating a Global Benchmark of Excellence • Broad Objectives • Developing and promoting the value of postgraduate real estate education • Developing a global brand that transcends national boundaries but still respects the diversity of local requirements for provision • Raising the quality and consistency of provision • Sharing best practice between educators • Developing common curriculum elements and standards • Maintaining a consistent standard of industry relevance • Clear employability focus • Point of contact for dialog and relationship development with global employers

  6. The Rational for Creating a Global Benchmark of Excellence • Adding structure to a spontaneous process • Focus in product promotion and development • Clarity for prospective students • Clarity for employers • Promoting strategic partnerships with organisations which share similar values • Professional Bodies • Industry Organisations • Academic Societies • MBA/MBM as examples of what can be achieved.

  7. Curriculum Development • Core Elements • Key task is to identify a common core • Educator and Industry inputs vital • Electives – Specialism • Considerable scope to reflect the strengths of delivering institutions • Also, need to reflect specific market requirements • Capstone • Application and integration of core and specialism • Major project or dissertation • Again market specific skill requirements important • Delivery specific considerations FT vs. PT • ‘Soft’ Skill Development • Bologna considerations in EU context

  8. Accreditation • Is accreditation the right word? • Need to maintain and promote product quality in line with board objectives. • How best to achieve it? • Very proscriptive or broad principals? • Employability and Industry Relevance need to be core considerations in assessing quality • Programme or Institution?

  9. Industry Recognition • A key issue in Brand Development • Programme Employability and Market Relevance critical • The Global Four RES firm have a key input in shaping the brand. • But also need from input from a wider range of players which employ real estate graduates

  10. Towards an International Association of MSRE Programmes • In reality a lot of similarities between existing programmes • Growth in programme numbers also a reflection of industry recognition • Key role for ERES, ARES and IRES in giving structure to this project. • Time Horizon 2-5 years • Meetings of Programme Directors linked to ERES/ARES annual meetings the first step to begin to give structure to the process and to identify the key issues involved and the potential benefits of an association of programmes • Initially a loose association of interested programmes with the potential to develop a more structured association in the longer term.

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