BUS 1370: PRINCIPLES OF MANAGEMENT
This is an elementary course which aims to provide a comprehensive introduction to the key facets of an organisation, its environment, the process of management and new trends in Business Management. Along with an introduction to the historical evolution of management, the course facilitates participants to gain a basic knowledge of the concepts, models, theoretical foundations of management, and the role of management in organisations and society. Thereby, the course provides the students with a profound knowledge and management skills vis-à-vis planning, organising, leading, controlling and organisational decision making while making them socially responsible towards the environment. The knowledge gained through this course will be beneficial for participants to follow their degree programme successfully.
DSC 1370: BUSINESS MATHEMATICS
This course, as the first course in mathematics, the students to basic principles, laws and rules that are necessary to develop an overview of application capabilities of the subject matters in the field of business and economics. Business Mathematics course covers functions, differentiation of functions, maxima and minima of functions, partial derivatives, integration, and area under curve and between curves and mathematics of finance. The course also includes the applications of differentiation and integration in business and economics. Under the applications of differentiation, the topics such as profit maximizations, cost minimizations, elasticity of demand, and marginal analysis are included. The major topics covered under applications of integration include marginal revenue and marginal cost, consumer‘s surplus, producers‘ surplus, total change in revenue, etc.
ITC 1370: INFORMATION TECHNOLOGY FOR BUSINESS
Information technologies and systems are transforming the business environment, and most of us are connected to them in multiple ways. The course provides theoretical knowledge and practical skills relating to information technology and information systems. The theoretical module discusses the importance of information systems, elements of information systems, applications of information systems for organization effectiveness and efficiency. The practical module provides the knowledge and operational skills in word processing applications, spreadsheet applications, presentation applications and online communication technologies which are frequently required in an organizational environment.
PUB 1270: SOCIO-POLITICAL ENVIRONMENT
Socio-political environment and profit oriented businesses are interdependent In one hand, businesses are influenced by the social and political forces while on the other hand, socio-political environment is influenced by the businesses. Accordingly, this introductory course unit is designed for the management undergraduates to gain fundamental understanding about social and political environment in which every business operates. As prospective professionals and citizens who will interact with the social and political institutions, it is necessary for an undergraduate to learn civic, social and political dimensions. This course facilitates learners to identify and respond to various social trends and changes in the political milieu, focusing on the substance of culture, socialization, social trends, social institutions, government, democracy, and interactions between different agents in the society. Further, it discusses the government mechanism which is currently being practiced in Sri Lanka.
LAW 1270: LEGAL ENVIRONMENT
Legal Environment is a core subject offered by the Legal Studies Unit for first-year undergraduates of the Faculty of Management Studies and Commerce. Upon completing this course, undergraduates are expected to be in a position where they can appreciate the varied effects of different areas of law and be adequately prepared to face legal issues they may encounter throughout their careers. For this purpose, the course is designed under three major topics i.e. Introduction to Law, Legal System of Sri Lanka, and Law of Obligations which together cover a spectrum of laws affecting businesses. The course incorporates new legal developments in important fields such as white-collar crimes and anti-bribery & corruption to train undergraduates to understand their role and responsibility within the ever-changing business environment. A sound knowledge of the legal environment is required to effectively eradicate uncertainties of conducting business and management. Arming students with the ability to manage legal risks when making decisions at different organisational levels is the main objective of this course. The course is further aimed at encouraging undergraduates to make ethical decisions in their future work environments to ensure more disciplined economic development within the country. Undergraduates will hone their skills of logical reasoning and problem-solving for better evaluation of the legal, regulatory, and ethical concerns and be able to incorporate the knowledge gained from this course into their business and managerial decision-making.
BCC 1370: BUSINESS COMMUNICATION I
This course aims to help students reach the level of Band 4/5 of the UTEL. Upon completion of the course, students should be able to construct both simple and complex sentences accurately, express their views meaningfully in brief discussions and telephone conversations, obtain required information from auditory texts, read and extract information in texts for a variety of purposes, write short texts and business letters.
HRM 1370: HUMAN RESOURCE MANAGEMENT
An obvious interdependence exists between our society and organizations that produce goods and services in order to fulfil our needs. The standards of living and even survival of people in society depend on the goods and services of the organization. Thus, any society/nation wants organizations that need people to achieve organizational objectives. Human Resource Management (HRM) is managing these people in organizations. The main objective of this course is to provide a systematic and rational understanding of HRM, both conceptual understanding and job-oriented practical understanding. It focuses on a systematic and scientific approach to the analysis and handling of issues/problems in HRM with special reference to the Sri Lankan context. The main areas covered are: intro- duction to HRM, organization of the HR department, job design, job analysis, human resource planning, recruitment, selection, hiring and induction, performance evaluation, pay management, training and development, employee movements, management of discipline, safety, health and welfare administration, grievances handling and management of labour relations.
DSC 1371: BUSINESS STATISTICS
This course provides an introduction to the fundamental concepts, principles and methods of Business Statistics. The topics include descriptive techniques, probability theory, probability distributions, and inferential techniques. The major topics discussed under descriptive techniques include data collection, presentation of data, organization of data and statistical summary measures. Three important theoretical distributions, namely, Binomial, Poisson and Normal distributions are discussed under probability distributions. The major topics under inferential techniques include sampling, sampling distributions, estimation and hypothesis testing. Correlation and regression theories are also introduced in this course.
BEC 1370: MICROECONOMICS
This basic course is designed to introduce the microeconomic theories, tools, and methods of analysis that are useful in the study of various economic issues in micro-level decision-making. This is a compulsory course that covers the intermediate theory of demand and supply, theories of consumer behaviour, short-run and long-run cost and its behaviour, production in the short run and in the long run, market structures and competition, factor market for labour, general equilibrium, and welfare. At the end of the course, students will be able to explain microeconomic concepts and apply microeconomic principles in day to day and business decision making. The prerequisite for this course is Business Mathematics.
ACC 1370: FINANCIAL ACCOUNTING AND REPORTING
This course aims at developing students’ knowledge and understanding of accounting standards, and their application in the preparation and presentation of financial statements of a corporate entity. The areas covered are: overview of financial accounting; accounting for impairment of assets; overview of accounting for assets; accounting for property, plant and equipment; intangible assets; investment property; borrowing cost; liabilities; leases; revenue; and overview of consolidated financial statements. An understanding of the financial accounting subject is essential to follow this course.
BCC 1371: BUSINESS COMMUNICATION II
This course aims to help students reach the level of benchmark Band 5/6 of the UTEL. This course introduces the students to language skills required in different business situations. Upon completion of this course, students should be able to participate in business meetings confidently and effectively, communicate effectively in a variety of situations, take down notes from auditory texts, read and respond to texts for a variety of purposes, write short formal texts and business letters, and use presentation techniques effectively and make brief presentations.
EMV 1170: INTRODUCTION TO REAL ESTATE
The course aims to introduce fresh undergraduates towards the discipline of real estate management and valuation. This includes awareness of the graduate profile and required professional competencies, the background of the real estate industry, and general soft-skills necessary for effective EMV undergraduates.
EMV 2270: ENVIRONMENT & SUSTAINABLE REAL ESTATE
The course aims to provide knowledge relating to the value of natural resources and the ways in which managing the environment and real estate development in a sustainable manner. It especially focuses to discuss the sustainable development goals and balanced management of three pillars of sustainable development in real estate development.
EMV 2271: BUILDING CONSTRUCTION
This course aims to provide knowledge in basic building construction technology, building materials, structural options, building services and how a property performs both financially and functionally. While assessing a building, the valuer must know the types of buildings, building elements, windows, doors, etc. The structural members of building systems are discussed as they relate to their intended purpose and what they do under live and dead loads. Building construction materials and technologies are discussed as they relate to the building valuation.
EMV 2172: PROPERTY DRAWING AND DOCUMENTATION I
The course focuses on introducing basics in computer-aided drawing with CAD software, 3D modelling, rendering and rapid building documentation. The course further investigates practical processes of existing property documentation, building information development. Learning how to measure the existing property, taking off and document by using manual and computer-aided software will be studied in this subject. This is a practical drawing class. Therefore, students are required to undertake a series of practical assignments to improve their property documentation skills, building documentation, building information development and measured drawings.
EMV 2273: SURVEYING AND LEVELLING I
This course introduces the fundamental aspects of land surveying, focusing on both the theoretical and practical knowledge of surveying and levelling. The course aims to introduce surveying and levelling techniques applicable to real estate management and provide an understanding of the basic surveying practical phases in the context of real estate valuation. There is a compulsory practical component with 75 contact hours to develop skills and knowledge related to Surveying and Levelling through fieldwork.
EMV 2274: SURVEYING AND LEVELLING II
This course is a continuation of the previous Techniques related to surveying and levelling applicable to real estate development and management, valuation and planning. There is a compulsory practical component with 75 contact hours for this course and the course concludes with a survey camp to further develop skills and knowledge related to surveying and levelling through fieldwork.
EMV 2375: BUILDING PATHOLOGY
The focus of this course is the diagnosis of building defects in existing buildings, which is an essential part of the property valuer’s work, often referred to as building pathology. The knowledge required for building pathology is an understanding of basic building techniques and how and why buildings fail to perform. The aim of this course is therefore to teach students the principles of structural failure, the properties of building materials and how materials deteriorate as a result of various environmental factors. In addition, construction technological defects, human errors and how those may lead to overall building failures will be taught in this course.
EMV 2176: PROPERTY DRAWING AND DOCUMENTATION II
This course will further develop student’s skills in Property Drawing and Documentation I. Students will be trained to document property by using standard technical documentation. Students will be taught to document a building by using building drawings, specifications and bills of quantities. In addition, this course will teach students to use a set of innovative software such as Building Information Modelling (BIM). By using BIM students will be able to document the property in four dimensions including building information. This will be a practical class and most of the studies will be conducted on a coursework basis in order to give practical exposure to students.
EMV 2377: PRINCIPLES OF VALUATION
Principles of Valuation deals with the principles underlying the valuation or appraisal of legal interests in all types of landed property. It covers key concepts, financial mathematics for valuer‘s and an introduction to three approaches and five standard methods of valuation. This course provides a foundation for all other valuation-related courses of the degree programme.
EMV 2378: LAND ECONOMICS
This course focuses on the application of the theory of economics to the problems related to land. It begins with its unique characteristics and key concepts, theories relevant to land, while it moves to the areas of land planning and management. The course provides knowledge on land and related issues, which serves as a foundation for core courses in the degree programme.
EMV 2379: GEOGRAPHIC INFORMATION SYSTEMS
This course focuses on principles, techniques, and applications of Geographic Information Systems (GIS). The course comprises of both lectures and practical on open-source GIS software as well as ArcGIS Map and ArcGIS Pro. All laboratory exercises will complement the theory presented in the classroom lectures and courses such as Urban and Regional Planning, Valuation and Real Estate Development & Management. In addition, knowledge acquired in this course is useful for the real estate project and other practical assignments of the degree programme.
EMV 2280: INSTITUTIONAL FRAMEWORK FOR REAL ESTATE
The real estate sector of the country consists of various government, semi-government and local government institutions that enjoy special legislative powers in dealing with real estate operations. Comprehensive awareness of the operations of these institutions is fundamental knowledge that REMV graduates require. Hence, this course aims to educate students on the legal and institutional setup and the finance system of the local government system and selected state institutions in Sri Lanka. The course also provides knowledge on the role of such institutions in planning and management of land and buildings and handling property assessments to improve the quality of the living environment.
EMV 2281: BUILDING COST ESTIMATION
This course introduces the types of cost estimation from the conceptual design phase through the more detailed design phase of a construction project. This course will also give knowledge of existing building construction cost estimation by taking off exiting building elements into consideration. Building Cost Estimation is vital in understanding property valuation, property management and real estate property development. Students will learn how to do breakdown items and estimate the cost of work into detailed components and tasks. Besides, the course highlights the importance of controlling costs and how to monitor project cash flow. Students will work on a break-even analysis of construction tasks in a project costing.
EMV 3370: PROPERTY LAW
This course provides knowledge of property law in carrying out real estate valuation, development and management of different nature. Property law has a strong influence on the determination of interest in land/landed properties and estimating values. The knowledge gained from this course supports real estate valuers and allied professionals in providing services for different clients.
EMV 3371: CONSTRUCTION PROJECT MANAGEMENT
This course aims to provide an understanding of project management in the construction industry. Construction project management is all about time, cost and quality management in construction projects. More than all construction project managers should have the basic skills of managing all the stakeholders of the project by improving effective communication skills and group decision making. Accordingly, this course covers financial, legal and contractual problems associated with the construction process, and application of management techniques and contract administration in the supervision of construction projects.
EMV 3272: REAL ESTATE MARKET ANALYSIS
This course aims to provide an understanding of a critical analysis of real estate markets which need for real estate planning, valuation and development & management. It covers two primary areas; sites in search of use and uses in search of sites. The course deals with the need and behavioural analysis of real estate occupants and other market actors,market analysis techniques,market & property data, trade areas dynamics, locational & occupant attributes, case studies, and feasibility report preparation.
EMV 3373: URBAN AND REGIONAL PLANNING I
This course is useful for professionals in real estate management and valuation. It aims to enhance the required competencies, knowledge, theories/ concepts in urban and regional planning and its applications. The course covers aspects like the historical evolution of urban planning (global and local), types of plans and some key concepts. Urban and regional planning II is the continuation of this course.
EMV 3474: ADVANCED VALUATION
This course covers an advanced treatment of valuation of legal interest in a property following the three approaches according to the five standard methods of valuation to derive the market value (rental and capital) for different purposes. It is compulsory for students to train on the preparation of a non-statutory professional valuation report.
EMV 3375: AGRICULTURAL VALUATION
This course aims to provide awareness on agricultural concepts with the required knowledge and skills to estimate the value of agricultural properties of perennial and non-perennial crops. This course also deals with agro-industrial concepts in the valuation process. Students to engage in a compulsory visit to an agricultural estate and prepare a valuation report.
EMV 3376: REAL ESTATE INVESTMENT ANALYSIS
This course deals with the investment aspect of real estate. It aims to provide an understanding of how investors on income-producing real estate analyse and make decisions. Knowledge of previous courses such as Financial Management, Real Estate Market Analysis, Principles of Valuation and Advanced Valuation provides a foundation for this course. The course primarily covers real estate related ownership and deal structures, equity valuation, debt analysis, real estate securitization, structuring and managing real estate portfolios. This course will expose students to contemporary software, case studies and feasibility report preparation which bring together various elements that are covered in the course.
EMV 3377: REAL ESTATE DEVELOPMENT AND MANAGEMENT
The scope of Real Estate Development and Management (REDM) is wide as it is multi-disciplinary in nature. This course covers key areas and shows the inter-rela- tionship of this course with the rest of the courses of the degree programme. The general objective of this course is to provide an overall understanding of the discipline of real estate development & management and its relationship with the value of real estates for REMV undergraduates. The topics covered under this course are real estate development & management process, the role of developer, different actors, property obsolescence, property quality & standards and so on.
EMV 3478: URBAN AND REGIONAL PLANNING II AND STUDIO WORK
This is a continuation of the previous course of Urban and Regional Planning I. This course aims to analyse issues and challenges of urban and regional planning specially related to the developing world and to give knowledge on institutional and legal framework related to planning in Sri Lanka. This course also provides the required skills to assess the land requirements for urban development and real estate development such as density measurements, layout design etc. In addition, the course adds advanced application of GIS focused on Urban and Regional Planning studio work.
EMV 3379: Applied Valuation I
The objective of this course is to provide advanced knowledge and application of valuation principles on statutory valuation in Sri Lanka. The course mainly focuses on the introduction of statutory valuation in line with the review of respective legal enactments, case studies and case laws on statutory valuation. The areas covered in this course are land acquisition procedure including estimation of compensation, injurious affection, severances, and taxation for rating, stamp duty, and capital gain.
EMV 3280: REAL ESTATE PROJECT
This course allows students to experience synthesizing and applying different compe- tencies that they have gained up to Year III in formulating a real estate project. The students‘ work will be evaluated at different phases including project proposal evaluation, mid-term review and end project review. An academic supervisor is assigned to each group, and he/she guides students to develop their project plan, presentation, and the report. At the end of the project, the student will build their skills in giving professional presentations, applying research to develop project outcomes, report writing, and reflecting on the development of employability skills.
EMV 4270: RESEARCH METHODOLOGY
As real estate sector is highly vibrant, complex, and decisive for human life, real estate professionals have to be research-oriented in order to work as expected by the industry. Accordingly, research is an integral part of the real estate professions. The general objective of the course is to provide REMV undergraduates with a basic awareness of social research applicable to their potential careers. More especially, it is expected, to educate on what is research, the research process, preparing a proposal, reviewing of literature, methods of data collection and analysing, writing a report, and presentation and publication of the outcome of a research.
EMV 4271: CONTEMPORARY DEVELOPMENTS IN REAL ESTATE
The real estate sector evolves along with the vibrant nature and rapid changes of society, natural environment, technology, law and politics, market and consumer behaviours, local and global trends and patterns, and so on. Effective professional real estate graduates need to upgrade their awareness of this nature of the real estate sector so as to fulfil their role as expected by the industry. Therefore, this course provides a wider awareness of the vibrant and changing nature of the real estate sector, challenges and opportunities, skills of recognizing problems and finding solutions. This also provides skills of analysis of local and global real estate market operations. Furthermore, this course encourages undergraduates for self-learning, Continuing Professional Development (CPD), and Life-long Learning (LLL) in their future career life.
EMV 4372: URBAN ECONOMICS
Urban Economics is the study of firms and households’ choices on urban location. The purpose of this course is to examine and understand the different parts of an urban economy and how they fit together. The spatial economics of an urban system, specially in housing, labour and transportation will be discussed. It also examines rent and wage determination, the location decisions of households and firms, quality of life amenities, agglomeration economies, and optimal city size, economics and policy of housing, transportation, local government, land use, discrimination, segregation, crime, and state policies of a smart city.
EMV 4473: APPLIED VALUATION II
This course is designed to give the opportunity for the student to apply statutory valuation principles in real scenarios. The primary focus of the course is given on estimation of compensation for acquisition under different headings, annual value estimation for levying rates for properties within local government areas, valuation of stamp duty, capital gain for taxation. The course will also discuss the fundamentals of special property valuation and business valuation. Further, the course intends to develop student’s skills in defending their valuation opinion at different statutory boards. At the end of the course, students will engage in the preparation of comprehensive statutory valuation report under all headings of the Land Acquisition Act.
EMV 4682: INDEPENDENT RESEARCH STUDY
The objective of this course is to develop the required skills and knowledge of conducting research on real estate issues. It is expected to add new knowledge to the existing research in the field. A research methodology course and seminars/ work- shops/ guest lectures organized by DEMV are prerequisites for IRS. Each student is supervised and monitored by a senior academic member which continues throughout the final year of the degree programme. Duly completed research report with the supervisor‘s approval will be evaluated and the students are supposed to face a viva-voce examination.
EMV 4683: INTERNSHIP
The internship course requires undergraduates to fulfil a minimum of 600 hours of industrial training in the field of real estate, valuation, urban and regional planning. The course aims to expose undergraduates to apply their competencies acquired through coursework to the real-life work setting. Following an internship will provide the undergraduates with awareness about potential career paths, professional networks and postgraduate studies. Under the support and guidance of the department, undergraduates will be responsible for securing internship opportunities.
EMV 4184: ETHICS AND PROFESSIONAL DEVELOPMENT
This course intends to ensure the ethical behaviour of real estate graduates in their professional life as well as in civil society. The course is organised in a way that the final year students are engaged in a professional setting and aware of ethical behaviour in professional practice. During the course, students will be exposed to learn international and local level ethical standards including RICS Global Professional and Ethical Standards. The course includes a case study presentation which portraits the real-world scenario and how student applied ethical standards during the decision-making dilemma in their internship.
EMV 4374: BUSINESS VALUATION
This course deepens the business valuation understanding of students which was introduced under Applied Valuation II course. Undergraduates will learn the application of three valuation approaches (cost, income and market) to value businesses of all types.
It allows students’ understanding of value creation and value destruction, and how to select the appropriate method of business valuation for any given statutory and non-statutory situation. The students elect this course will be exposed to business valuation case studies and will be engaged in preparing a business valuation report.
EMV 4375: ENVIRONMENTAL VALUATION
This course provides the students with an understanding of economic approaches to valuing the non-market costs and benefits of environmental assets, projects and policies. It emphasizes the importance of integrating values of environmental resources in real estate valuation, development and management. The students who elect this course will be exposed to a range of case studies and critical discussion on different survey-based non-market valuation methods.
EMV 4376: HOUSING AND SETTLEMENT PLANNING
Housing constitutes a significant share of land use in cities as well as rural areas which require special attention in planning and development of those, as the ultimate objective is to improve the quality of human life. This course content is focused to discuss major human settlements issues and problems and critically evaluate various types of solutions and interventions (by both private and public sector) in human settlements (city and neighbourhood, planning, housing projects, building programs) in Sri Lanka. Also, to discuss new and emerging concepts, methods and tools to face new challenges in the built environment in developing countries.
EMV 4377: DISASTER RESPONSE PLANNING
This course provides an understanding of the emerging global and national issues in disasters, and a wider awareness on disaster risk situations and their implications on human settlements and land use. It also focused on responsive measures and adaptation strategies for disaster risk situations in the planning of urban areas using emerging geospatial technologies.
EMV 4378: CORPORATE PROPERTY AND ASSETS MANAGEMENT
The course introduces real estate management as a strategic function of an organisation. This course discusses the roles of corporate property at the strategic level of an organisation and how corporate property strategies would align with organisational strategies. It also discusses measuring corporate property performance for decision making, reviewing of corporate real estate best practices and enterprise resource planning for assets management.
EMV 4379: PROPERTY TECHNOLOGY AND DIGITAL SOLUTIONS
This course is developed to provide students with a broader knowledge of property technology (PropTech) manifestations, practices, and dispositions and, how those can be mobilized to generate digital solutions to contemporary issues related to real estate. The course contains discussions on industry 4.0 transformational technologies; particularly Artificial intelligence, Blockchain, IoT applications and big data handling on built environment designing, construction, financing, management and valuation. Students will be gained an understanding of the disruptions that are happening in the real estate markets through PropTech. This course is most suitable for students who demonstrate a higher interest in excelling themselves with digital skills related to real estate.
EMV 4380: ADVANCED GEOGRAPHIC INFORMATION SYSTEMS AND APPLICATIONS
This course aims to give an advanced application of GIS for Urban and Regional Planning and Real Estate Management. It builds on existing Geographic Information System skills through analytical and carto- graphic applications to a range of disciplinary areas. Covers advanced geoprocessing tools for analysing vector, raster, and network data, as well as fundamentals of remotely sensed image processing, classification and visualisation. Emphasis on spatial data creation, representation, modelling, and programming.
EMV 4381: LAND MANAGEMENT
The course gains insights into the complex nature of state land management and learns about the key role of land management. This enables students to understand how good state land management practices can help to reduce the issues in real estate development and management in Sri Lanka. The areas covered under this course include; the issues related to state land in Sri Lanka, institutional and legal framework (land alienation and management), land alienation and management in Sri Lanka.