USC
University of Southern California
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Graduate Degrees

Master of Real Estate Development

The Master of Real Estate Development program is a carefully integrated program that brings together the three main elements of real estate development: design, finance and policy. It is a one-year full-time or two-year evening executive program of study designed to provide students with the knowledge and skills they require to compete successfully in the development industry. The curriculum encompasses eight areas of study with which developers must be conversant, including real estate law, economics, finance, market analysis, negotiation, planning, architecture and engineering. Courses are taught by full-time faculty members from the School of Policy, Planning, and Development. In addition, practicing developers, lawyers, planners and other professionals make regular contributions to the course of study, helping students link learning to practice.

Curriculum Requirements

The program of graduate study for the professional degree requires successful completion of the core curriculum (36 units), elective courses (8 units) and a comprehensive examination. Students must complete a total of 44 units.

Core Curriculum
The core comprises 13 lecture-seminar courses that combine lectures, projects, case analyses, and exercises which allow students to experience all facets of the developer's tasks and problems. The integrative project, RED 575L, provides problem solving exercises and the evaluation of actual development situations. Courses emphasize various design, regulatory and fiscal problems associated with urban development and the developer's role in improving development standards in the industry.

Core Courses Units
PPD 500Intersectoral Leadership2
PPD 501aEconomics for Policy, Planning and Development2
RED 509Market Analysis for Real Estate4
RED 542Finance of Real Estate Development3
RED 544Markets2
RED 546Application of Real Estate Finance to Problems of Development 3
RED 547Project Management and Construction2
RED 551The Approval Process4
RED 562Legal Issues in Real Estate Development4
RED 573Design History and Criticism2
RED 574Building Typologies2
RED 575LCommunity Design and Site Planning4
RED 598Real Estate Product Development2

Eight units of elective course work are required for the Master of Real Estate Development. These courses may be taken in the Schools of Policy, Planning, and Development, Architecture, Business, Law and the Department of Civil Engineering. Admission to some classes requires advanced prerequisites and is subject to availability and approval of the instructor.

Comprehensive Examination
Successful completion of a comprehensive written and oral examination is required of all students seeking the Master of Real Estate Development degree. The examination explicitly covers the core courses. It is normally administered late in the spring semester by a faculty committee appointed by the dean. Students who fail the examination once may take it again within one year. The examination may not be repeated more than once.

General Requirements

Residence and Course Load
The Master of Real Estate Development may be completed on either a full-time or part-time basis. Both options begin in the summer session in June. The full-time program requires 11 months of study. The evening executive option is completed over a two-year period. Students are also expected to participate fully in all extracurricular activities associated with the Master of Real Estate Development program, including the weekly speaker series.

Students who wish a leave of absence for a semester or longer must request it from the dean in writing; such leaves may be granted for up to one year.

Students must have an approved laptop computer as required by instructors and must demonstrate calculator and spreadsheet skills.

Time Limit
The time limit within which students in the program must complete the requirements for the Master of Real Estate Development is governed by the following regulations:

All requirements for the Master of Real Estate Development must be completed within five calendar years from the first course at USC applied toward the degree.

University regulations prohibit the acceptance of credits for courses taken toward a Master of Real Estate Development degree more than seven years after the date they were successfully completed.

Grade Point Average Requirement
While enrolled in the program, a student must maintain a grade point average of at least 3.0 for all courses taken toward the degree.

Probation and Disqualification
Any student with a cumulative grade point average of below 3.0 for all courses taken in the program will be placed on academic probation. A student may be disqualified to continue toward a graduate degree if the student has been on academic probation for two consecutive semesters. Whether or not on academic probation or warning, a student may be disqualified at any time from continuing in the program if the dean of the school, after consultation with the faculty, determines that the student is deficient in academic achievement or in another qualification required for the attainment of the Master of Real Estate Development degree.

Course Exemptions and Transfer of Credits
Courses taken toward other degree programs, if determined by the dean to be equivalent to courses in the curriculum, may be accepted for subject credit only. All students are required to complete 44 units while enrolled in the Master of Real Estate Development program. The acceptance of previous course work for subject credit will enable the student to take additional elective courses.