Entrepreneurship Studies Minor



Program Planning Summary for

Minor in Commercial and Investment Real Estate

E. Craig Wall Sr. College of Business Administration

Coastal Carolina University

Program Contact: Dr. Robert Salvino (rsalvino@coastal.edu)

Program contact information: Chair, Department of Finance and Economics, Coastal Carolina University, 100 Chanticleer Dr. E, Conway, SC 29528

David A. DeCenzo, President

March 1, 2016

1. Justification

The Grand Strand is one of South Carolina’s major market economies and one of the fastest growing metropolitan areas in the United States. This growth has resulted in the steady development of the real estate, construction, and related industries and their combined contribution to approximately forty percent of total private sector economic output in the region in 2013. The Wall College of Business currently offers several independent courses with a focus on real estate. The proposed minor integrates the strengths of the College and its industry partners, giving students a defined career path to enhance their academic studies. The Commercial and Investment Real Estate Minor is a plan of study designed to educate and train students in the rigors of real estate investment analysis in order to prepare them for real estate-related careers with commercial banks, insurance companies, mortgage bankers, private appraisal and consulting firms, real estate developers, property management firms, and residential or commercial and industrial brokerage offices. There is a growing need for employees in private firms and government agencies concerned with developing, appraising, financing, and merchandising residential, commercial and industrial real estate. This program will be open to all College of Business students.

2. Relationship to existing programs

Coastal Carolina University offers separate majors in Finance, Economics, and Resort Tourism Management, all housed in the Wall College of Business. Each major offers a course with a real estate focus. Real estate economics is a focus of the Center for Economic and Community Development and the Clay Brittain Center for Resort Tourism, and real estate indicators are an important part of the economic forecasting programs maintained by the Centers. Any student enrolled in the College of Business will be able to pursue the Minor in Commercial and Investment Real Estate.

3. Assessment of the extent to which program duplicates existing programs in the state

Two public universities in the state, the College of Charleston and the University of South Carolina, offer a Minor in Real Estate and Clemson University offers a Master’s Degree in Real Estate Development. Coastal Carolina University’s proposed Minor in Commercial and Investment Real Estate is a unique program for the region and fills a special niche for higher education focused on real estate in coastal communities attracting global investment.

Program Demand and Productivity

1. Anticipated enrollment in the second year: 30 students

2. Anticipated number of annual completions after the second year: 25

Employment opportunities for graduates

There is a growing need for employees in private firms and government agencies concerned with developing, appraising, financing, and merchandising residential, commercial and industrial real estate. Forty percent of private sector output in the Myrtle Beach region in 2013 came from real estate and related sectors, and the concentration state-wide and nationally is only slightly less. Analytical positions in the financial sector have a growing need for individuals with a rigorous background in economics and finance with an emphasis on real estate, particularly since new and changing regulations since the last recession have added to the complexity of market transactions and valuations. In addition to jobs, the share of entrepreneur-led enterprises in real estate and related sectors is relatively high.

Curriculum Outline

Students in the Minor in Commercial and Investment Real Estate will undertake an 18-credit hour program of study aimed at providing students with the technical skills and ethics-based, goal-driven mindset essential for attaining long-term success as a real estate investment professional. Five courses comprise the program of study. These are listed as follows.

Required Courses

1. FIN 302: Survey of Commercial and Investment Real Estate

2. ECON 354: Urban and Real Estate Economics

3. FIN 462: Real Estate Investments

4. ECON 495: The Service Learning Experience in Economics OR

HRTM 490: Seminar in Resort Tourism Planning

5. Real Estate Selective (Choose one) (3 credits)

     GEOG 204: Intro to GIS

MKT 455: Personal Selling and Sales Management

ECON 460: Econometrics 

CBAD 497: Internship

CBAD 499: Independent Study

               Other as approved by Department Chair

Course Rotation (Courses offered fall and spring semesters with the following exceptions)

1. FIN 302 Fall

2. ECON 354 Spring

3. FIN 462 Spring

Estimated Costs

Two new course have been introduced as part of the Minor. These courses will be offered once per academic year. This will require either an instructor overload or an adjunct per course per year.

Total net new cost per academic year: $6,000

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