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BS Real Estate Finance and Development (REFD)

BS Real Estate Finance and Development

REFD

BS Real Estate and Finance and Development (REFD) is a groundbreaking joint degree offered in partnership by the USC Marshall School of Business and the USC Price School of Public Policy. The program combines the strengths of Marshall in real estate finance and investment and the strengths of Price in real estate development and urban planning for an innovative and immersive experience for students beginning in the Fall of 2024.

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PROGRAM BENEFITS

JOINT DEGREE

The BS Real Estate Finance and Development (REFD) degree is a four-year 128-unit program in which students take courses at both Marshall and Price and their diplomas will reflect the names of both schools upon graduation. Students will take courses in in real estate finance and investment at Marshall and in real estate development and urban planning at Price.
CURRICULUM
INDUSTRY ENGAGEMENT

Success in the real estate industry requires both expert financial skill and a keen understanding of planning, land use, and development. This degree offers students a deep dive into all these facets of the industry and will feature frequent interactions with experienced real estate professionals, drawing on both schools’ rich expertise and long history in real estate education and industry engagement. Both schools enjoy close ties to local, regional and national real estate development and investment firms.
Cohort Experience

Teaching + Innovation

Undergraduate Joint Degrees

"The analytical, technical, entrepreneurial, and leadership skills students acquire at Marshall will help them unleash their potential to create transformational ideas for world changing impact."

— Dean Geoffrey Garrett

ACADEMIC OVERVIEW

During their freshman and sophomore years, students will establish a solid foundation in Business and Real Estate. This groundwork is achieved through core courses in Economics, Accounting, and Finance, coupled with introductory classes on Real Estate. Paired with concurrent career preparation courses, this comprehensive foundation equips students for hands-on internship experiences following their sophomore year. In their junior and senior years, students will delve into more advanced aspects of Real Estate, including Finance, Investment, Development, and Planning, through in-depth coursework and experiential learning opportunities.

“The new joint degree is particularly important given our location in Los Angeles. Real estate and Los Angeles are intertwined, and this degree is uniquely USC.”

— DANA GOLDMAN, DEAN OF THE PRICE SCHOOL OF PUBLIC POLICY AND IONE L. PIPER CHAIR

APPLYING TO THE PROGRAM

DATES + DEADLINES

See all undergraduate application dates and deadlines HERE.
FIRST-YEAR INFO SESSIONS

Virtual Information Sessions designed for high school juniors / seniors / families for a comprehensive overview of Marshall are on Wednesdays at 11:00A and 3:00P PT.
REGISTER HERE
CAMPUS TOURS

Learn about USC On-Campus Tours HERE. Student-Led, Self-Guided, and Virtual Tours are all available.
INFORMATION FOR ADMITTED STUDENTS

Register for an online session through the USC PORTAL. If you have any questions about attending an event, you can always reach out to the Undergraduate Admission office directly: EMAIL

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STUDENT ORGANIZATIONS

Marshall Real Estate Finance Association

MREFA represents the educational, pre-professional and social interests of students pursuing studies and careers in Real Estate Finance at the USC Marshall School of Business. MREFA is open to all USC students, and activities include industry panels and speaker events, weekly general member meetings, technical trainings (ARGUS, underwriting, financial modeling), and possible office tours, treks, and other hands-on professional development opportunities. MORE

ALL STUDENT ORGANIZATIONS

INSIGHT + ANALYSIS

Quoted: Greg Kling in Associated Press

KLING, associate professor of the practice of accounting, tells the AP its too soon to know how the new realtor commission rules will affect home prices for buyers and sellers and the real estate industry at large.

GO TO ARTICLE Quoted: Greg Kling in Associated Press
Cited: Marco Giacoletti in WTOP-FM

Local radio station in DC, WTOP-FM, cites research by GIACOLETTI, assistant professor of finance and business economics, disputing claims that single-family real estate investment trusts are increasing home prices.

GO TO ARTICLE Cited: Marco Giacoletti in WTOP-FM
Cited: Erica Jiang on the BBC

The BBC cites research by JIANG, assistant professor of finance and business economics, that predicts lower interest rates on defaulting commercial real estate loans could avert a potential bank crisis.

GO TO ARTICLE Cited: Erica Jiang on the BBC
Cited: Erica Jiang in New York Times

The New York Times cites research by JIANG, assistant professor of finance and business economics, indicating that mounting commercial real estate losses — 14 percent of all commercial real estate loans and 44 percent of office loans are underwater — could spell trouble for banks.

GO TO ARTICLE Cited: Erica Jiang in New York Times
Interview: Erica Jiang on Yahoo Finance

JIANG, assistant professor of finance and business economics, spoke extensively with Yahoo Finance on the worrying state of real estate loan defaults.

GO TO ARTICLE Interview: Erica Jiang on Yahoo Finance