JANUARY: IAP
The MIT Independent Activities Period (IAP) is a three-and-a-half week period in January between fall and spring terms in which faculty members and students are free from regularly scheduled classes to allow time for more flexible teaching and learning, and for independent study and research. Students are encouraged to explore the educational resources of the Institute. More than 600 activities are offered each year, drawn from a wide range of subjects, both academic and non-academic.
Some MSRED students take part in Externships as well as travel opportunities that may occur during the IAP session. Other students stay in Boston, participate in IAP classes offered by MIT, and experience a Boston winter.
Aside from the externship opportunities MSRED students often take part in, there is also the opportunity to stay on campus and pursue classes. A popular IAP course among MSRED students in the recent past has been:
Nuts and Bolts of Business Plans
Taught by MIT Sloan Professor, Joseph Hadzima - "Meets twice a week for 3 weeks during IAP. There is a written paper requirement to get a passing grade. Be aware that the majority of people taking this course are engineers and Sloanies competing for the MIT entrepreneurship competition, and that the coverage is not specific to real estate, but the course is useful for anyone thinking of how to market a product and find venture capital."
IAP Externships
Many students take the opportunity during the IAP period to participate in an externship. While international students are prohibited from working in the US before completing a year of academic study, and therefore cannot participate in domestic internship opportunities, there are a number of externship opportunities in international markets to which international students may apply. Students make contact with a potential externship employer through opportunities shared by the Center's Career Development Officer and their own contacts or networking. In the 2018 academic year, 19 students participated in an IAP externship in locations such as Dubai, London, and Boston.
"My time with MIT CREATE and Conservatorio over IAP has offered me the experience to implement my coursework at the CRE into industry practice. Our project focused on the informal economy and how to maximize return in a large mixed- used project while ensuring positive social impact for the community. This topic particularly interests me, as I want to focus on creating an ethical framework for real estate development, that finds the equilibrium point between profit and public interest for my thesis. A unique case study- Conservatorio’s work explored this complex relationship between the private and public.”
-Nicole Zaccack, '19
"I spent my IAP working for Grit, a real estate income fund based in Mauritius, and investing in the African real estate market. My project was to study their investment process and come up with a comprehensive investment due-diligence guideline. It was a great learning experience and a sort of a sneak-peek to frontier markets. Work apart, I had a wonderful time staying in Mauritius for three weeks and exploring the beautiful island."
-Rama Kaza, '18