Home • PRRES Inc. Journal • Read the Journal

The structured learning of valuation modelling

Author/s: Steven Boyd

Date Published: 04/05/2021

Published in: Volume 27 - 2021 Issue 2 (pages 127 - 144)

Abstract

Active learning compels non-academic students to employ deeper learning strategies. Unfortunately, established activities to encourage active learning are resource intensive and do not suit physically distanced modes of delivery. This research presents an active learning module and proposes a novel structured approach to enhance the learning and teaching of financial modelling in property education, during and after COVID-19. A review of past research presents ways to encourage deeper learning. This research is primarily based on findings from published property education research. It builds on that knowledge as it shares the design of Valuation Modelling online module and the application of Petronzi and Petronzi’s (2020) Online and Campus (OaC) model, as a response to COVID-19. The OaC model is adapted to bring forward an applied learning activity, the development of a working valuation spreadsheet. The result is higher education unit, or subject, with an Apply, Evaluate, and Solve (AES) structure that aligns with academic frameworks, and has the potential to accommodate case-based and problem-based learning activities with less reliance on human resources. The Valuation Modelling module and its incorporation into an AES framed unit of study are demonstrated as contributions of this research.

Download Full Article

Download the Full Article PDF

14445921.2021.1983925.pdf 14445921.2021.1983925.pdf (8MB)

Keywords

Active Learning - Case-Based Learning - Covid-19 - Problem-Based Learning - Property Education - Real Estate Education - Valuation Modelling

References

  • Australian Government. (2021) Department of education, skills and employment, Australian Qualifications Framework (AQF), AQF Levels. Website , .AQF Levels. Retrieved from https://www.aqf.edu.au/aqf-levels
  • Australian Property Institute (API). (2021) API education,.Retrieved from https://www.api.org.au/professional-development/
  • Azasu, S.Gibler, K. M. (2016) The CDIO model for real estate curriculum development, Journal of Real Estate Literature. 24(2), p:287-308. Journal of Real Estate Literature.
  • Biggs, J. (1993) From theory to practice: A cognitive systems approach, Higher Education Research & Development. 12(2), –.p:73-85. Higher Education Research & Development.
  • Biggs, J. (1999) What the student does: Teaching for enhanced learning, Higher Education Research & Development. 18(1), –.p:57-75. Higher Education Research & Development.
  • Biggs, J.Kember, D.Leung, D. (2001) The revised two?factor study process questionnaire: R?SPQ?2F, British Journal of Educational Psychology. 71(1), p:133-149. British Journal of Educational Psychology.
  • Biggs, J.Tang, C. (2009) Teaching for quality learning at university: What the student does. (3rd Ed ed.). Berkshire England: SRHE and Open University Press. Teaching for quality learning at university: What the student does.
  • Biggs, J.Tang, C. (2011) Teaching for quality learning at university: What the student does. (4th Ed. ed.). Berkshire. England: SRHE and Open University Press. Teaching for quality learning at university: What the student does.
  • Boyd, D.Amidu, A. R.Smith, M. (2014) Developing a practice-based body of real estate knowledge: A delphi study, Journal of Real Estate Practice and Education. 17(2), p:139-167. Journal of Real Estate Practice and Education.
  • Boyd, S. (2015) Playing property – Designing serious games to enhance the learning experience for undergraduate property students in Australia, Doctoral thesis.University of the Sunshine Coast. Sippy Downs. QLD.
  • Boyd, T. (2005) Stakeholder impact on property education programs, Proceedings from the 11th Annual Pacific Rim Real Estate Society Conference.
  • Brown, A. (1992) Design experiments: Theoretical and methodological challenges in creating complex interventions in classroom settings, Journal of Learning Sciences. 2(2), –.p:141-178. Journal of Learning Sciences.
  • Charles, S. (2016) Graduate real estate education: The ULI Hines student competition as a pedagogical tool, Journal of Real Estate Practice and Education. 19(2), –.p:149-174. Journal of Real Estate Practice and Education.
  • Emanuel, E. (2013) Online education: MOOCs taken by educated few, Nature. 503(21),.p:342. Nature.
  • International Valuation Standards Council (IVS). (2020a) International Valuation Standards, IVS 105 Valuation Approaches and Methods. (2020a) ,.IVS 105 Valuation Approaches and Methods.
  • International Valuation Standards Council (IVS). (2020b) International valuation standards, IVS 410 Development Property. Effective. 31,.IVS 410 Development Property. Effective.
  • Jonassen, D. (1991) Objectivism versus constructivism: Do we need a new philosophical paradigm?, Educational Technology Research & Development. 39(3), , –.p:5-14. Educational Technology Research & Development.
  • Levy, D. (2006) Qualitative methodology and grounded theory in property research, Pacific Rim Property Research Journal. 12(4), –.p:369-388. Pacific Rim Property Research Journal.
  • Marton, F.Saljo, R. (1976a) On qualitative differences in learning: I – Outcome and process, British Journal of Educational Psychology. 46(1), Scottish Academic Press. Edinburgh. British Journal of Educational Psychology.
  • Marton, F.Saljo, R. (1976b) On qualitative differences in learning: II – Outcome as a function of the learner’s conception of the task, British Journal of Educational Psychology. 46(2), Scottish Academic Press, Edinburgh. British Journal of Educational Psychology.
  • McGrath, K.Wang, B.Jackson, B.Kämpf-Dern, A.Malone, K.Funk, D.Geurts, T. G. (2020) The future of real estate education: A multi-faceted perspective, Journal of Real Estate Practice and Education. 22(1), p:40-55. Journal of Real Estate Practice and Education.
  • Mooya, M. M. (2015) The education and professional practice of valuers in South Africa: A critical review, Property Management. 33(3), –.p:245-274. Property Management.
  • Palm, P.Pauli, K. S. (2018) Bridging the gap in real estate education: Higher-order learning and industry incorporation, Journal of Real Estate Practice and Education. 21(1), p:59-75. Journal of Real Estate Practice and Education.
  • Petronzi, R.Petronzi, D. (2020) The Online and Campus (OaC) model as a sustainable blended approach to teaching and learning in higher education: A response to COVID-19, Journal of Pedagogical Research. 4(4), p:498-507. Journal of Pedagogical Research.
  • Poon, J. (2014) A cross-country comparison on the use of blended learning in property education, Property Management. 32(2), –.p:154-175. Property Management.
  • Poon, J. (2016) An investigation of characteristics affecting employment outcomes and patterns of real estate graduates, Property Management. 34(3), –.p:180-198. Property Management.
  • Poon, J.Brownlow, M. (2015) Real estate student satisfaction in Australia: What matters most?, Property Management. 33(2), p:100-132. Property Management.
  • Susilawati, C.Yam, S. (2013) Property case competition: Multi-stakeholder reflection, Proceedings from the 19th Annual Pacific Rim Real Estate Society Conference. p:13-16.
  • Vos, N.van der Meijden, H.Denessen, E. (2011) Effects of constructing versus playing an educational game on student motivation and deep learning strategy use, Computers & Education. 56(1), p:127-137. Computers & Education.
  • Warren, C. (2013) The future of university education, Property Management. 31(2),.p:2. Property Management.
  • Wilkinson, S.Halvitigala, D.Antoniades, H. (2018) Educators, professional bodies and the future of the valuation profession, Property Management. 32(2), p:154-175. Property Management.