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Appropriate for advanced undergraduate courses in Real Estate or Urban Economics and graduate-level business courses in Public Policy and Urban Planning. Also useful as a professional reference. This up-to-date, highly-accessible text presents a unique combination of both economic theory and real estate applications, providing students with the tools and techniques needed to understand the operation of urban real estate markets. It examines residential and non-residential real estate markets-from the perspectives of both macro- and micro- economics-as well as the role of government in real estate markets.