Agricultural Economics, Rural Appraisal and Agricultural Policy

Module Rural Appraisal

The course will provide students with the essential methodological knowledge for the valuation of private property and meet international property valuation standards.

The teaching methods include lectures, seminars and coworking among students. In addition, teaching visits will be held.
As a guarantee of equal opportunities and in compliance with current laws, interested students can ask for a personal interview in order to plan any compensatory and/or dispensatory measures, based on their specific needs and on teaching objectives of the discipline.
To receive more details on the matter, the Department's CInAP (Center for Active and Participatory Inclusion - Disability and/or DSA Services) contact person can also be contacted.

None

1. Elements of financial mathematics:

• Financial transactions; interest regimes; mound factor; discount factor; valuation of annuities; mound of annual annuities; present value of annual annuities; reinstatement fee: amortisation fee; mound of multi-year annuities; present value of multi-year annuities.

2. Elements of statistics: 

• Statistical surveys; measurement scales; descriptive statistics; probability and probability distributions; statistical induction; point estimation, interval estimation and hypothesis testing; simple and multiple regression analysis.

3. General valuation: 

• Estimation postulates; criteria for estimation; market-oriented estimation procedures: mono-parametric procedures; general estimation system; Nearest Appraisal Technique (NAT); 
  cost estimation procedures; depreciation estimation; income capitalisation estimation procedures; land market analysis; valuation codes and estimation standards; the appraisal report.

• Valuation of rights in rem; valuation in expropriations for public utility; valuation of rural buildings; valuation of a rustic estate; valuation of an estate susceptible to improvement; valuation of fruit arboretums; valuation of pending fruits and crop advances; judgments of convenience on the execution of a land improvement.

6. Resolution of frequently recurring estimation cases

1. Michieli M., Cipollotti G.B. (2018): Trattato di estimo generale, immobiliare, agrario, forestale, ambientale, legale. Edagricole.

2. Simonotti M. (2006): Metodi di stima immobiliare. Applicazioni degli standard internazionali, Flaccovio.

3. Simonotti, M. (2011). Valutazione immobiliare standard. Stimatrix.

4. Appraisal Institute (2013). The Appraisal of Real Estate, 14th Edition.

Assessment of the student's knowledge will be made according to the following criteria: the student's ability to learn and level of istudy of the topics discussed, property of synthesis and exposition, and the student's ability to argue. To this scope, it is planned:

- a written midterm test;

- a final oral test.

The grade is expressed in thirtieths. The exam is considered passed if the student achieves a grade of at least eighteen thirtieths.

If necessary, the learning assessment procedure may also be conducted on-line.

The grading will be as follows:

Unsuitable

Knowledge and understanding of topic: Significant deficiencies. Significant inaccuracies

Ability to analyse and synthesise: Irrelevant. Frequent generalisations. Inability to summarise

Use of references: Completely inappropriate

18-20

Subject knowledge and understanding: At threshold level. Obvious imperfections

Capacity for analysis and synthesis: Barely sufficient capacity

Use of references: Barely appropriate

21-23

Knowledge and understanding of the subject matter: Routine Knowledge 

Ability to analyse and synthesise: Is able to analyse and synthesise correctly. Argues logically and coherently

Use of references: Uses standard references

24-26

Knowledge and understanding of subject matter: Good knowledge

Analysis and synthesis abilities: Has good analysis and synthesis abilities. Arguments are expressed coherently

Use of references: Uses standard references

27-29

Knowledge and understanding of the subject: Knowledge more than good

Capacity for analysis and synthesis: Has considerable capacity for analysis and synthesis

Use of references: Has deepened the arguments

30-30L

Knowledge and understanding of the subject: Very good knowledge

Capacity for analysis and synthesis: Has considerable capacity for analysis and synthesis.

Use of references: Has significant in-depth knowledge.

1. Interest and discount schemes
2. Postulates
3. Classification of Estimation Procedures
4. General Estimation System
5. NAT
6. Estimation by income capitalisation
7. Estimation in expropriations for public utility
8. Valuation standards
9. Land and buildings register