Course overview
The aim of this course is to provide students with an understanding of construction business environment and fundamental micro and macro-economic principles with particular reference to the construction industry. Introduction to Economic Characteristics of Construction industry. Business Structures. Builder Licensing and Supervision. Employment Conditions. Industrial Relations Practices and Unionisation. Introduction to Economics. Market Mechanism: Demand, Supply and Equilibrium Process. Costs, Revenues and Pricing and their Application to Construction Firms. Market Structures. The National Economy and Government Policy. Economic Measures of Construction Activity. Trade and the Global Economy. Monetary Policy and Interest Rates.
Course learning outcomes
- Describe the construction business environment.
- Define economics and appreciate its importance to the construction industry.
- Know fundamental micro-economic theory and relate it to firms in the construction industry.
- Know fundamental macro-economic theory and how it impacts both construction output as well as national output.
- Describe the global economy and explain how international economic events impact on the construction industry.
Degree list
The following degrees include this course