Urban Real Estate and Development Minor

This minor, co-sponsored by Real Estate (Wharton) and Urban Studies (Arts and Sciences), is  designed to enable students to combine an interest in Urban Studies and Real Estate Development. The minor consists of seven courses. Four are required and three may be selected from a list of approved courses in consultation with the student's home school advisor.

Urban Studies is still able to declare your major or minor this semester! Just write to urbs@sas.upenn.edu, and we will schedule you to meet over the phone with Real Estate Minor Advisor Elaine Simon.

In the meeting, try to have Penn InTouch open in front of you if possible, and you and Elaine will begin to fill out a Real Estate Minor Proposal Form that will orient you to the requirements and how they fit together in a sequence. You will also have a chance to ask questions and clarify your interests. Your minor will not be formally declared until after meeting with an advisor and receiving approval.

The advisor in the Wharton School is Susan Wachter.


Please note - the following course lists are not exhaustive. Other courses may be considered with prior approval from the department. Keep in mind that some of the Wharton classes also have other prerequisites for which the students have responsibility of fulfilling. Current prerequisites are noted. Students are strongly advised to confirm the prerequisites by checking the University Course Register.

Note for School of Arts and Sciences students: Wharton courses may be counted towards your 4 course limit on classes taken outside of the School of Arts and Sciences.  Also, College students considering the minor must take Economics 1 and 2 before any Wharton course work is undertaken. Please plan accordingly.

COLLEGE students must take two of the starred (*) Urban Studies courses plus one other from the following list (3 total).
WHARTON students must take two of the starred (*) Urban Studies courses plus two more from the following list (4 total):

*URBS 104 The Transformation of Urban America
 URBS 203 Intro to City Planning: Planning Urban Spaces
*URBS 204 Urban Law
 URBS 253 Cities, Suburbs, Regions
 URBS 290 Metropolitan Nature
 URBS 415 Urban Real Estate Markets
 URBS 440 Introduction to City Planning
*URBS 450 Urban Redevelopment
 URBS 451 The Politics of Housing and Community Development
 URBS 452 Community Economic Development
 URBS 476 Urban Housing and Community Development Policy in America


COLLEGE students must take two of the starred (*) Real Estate courses plus two others from the following list (4 total).
WHARTON students must take two of the four starred (*) Real Estate courses plus one other from the following list (3 total).
WHARTON students who are concentrating in Real Estate must take a total of five Real Estate courses.

*REAL/LGST 204 Real Estate Law, Financing and Development
 REAL 205/705 Global Real Estate: Risk, Politics, and Culture
 REAL 208 Housing Markets
*REAL 215 Urban Real Estate Economics ◊
*REAL/BEPP 230 or ECON 237 Urban Fiscal Policy
 REAL/FNCE 209 Real Estate Investments
 REAL/BEPP 236 International Housing Comparisons (prerequisite: FIN 101)
 REAL 321 Real Estate Development
 ARCH 762/CPLN 643 Design & Development


◊ Previous coursework in FNCE, ECON, or STAT is strongly recommended. See advisor for details and list of applicable classes.


Notes :

  1. For Urban Studies Majors - No more than three courses counted for the minor may also be included in the student's major or concentration
  2. The minor should be declared by the end of the junior year to take advantage of faculty advice.
  3. Many students experience difficulty enrolling in REAL/FNCE 209. Please contact the Academic Affairs Coordinator in the Department of Finance, who handles any overflow directly: https://fnce.wharton.upenn.edu/department-information/staff/
  4. Courses (other than those marked as required) may be substituted at the discretion of the advisors.