Construction economics is a core component of a wide range of undergraduate courses in the built environment. Consequently students need to grasp quickly the basic principles of economic theory and see how this relates to a unique and complex industry. In addition this needs to be seen in a modern context and this new approach adopts the argument that economics is central to understanding the recent government initiatives concerning sustainable construction.
Traditionally economics is regarded as a challenging subject, so it needs to be presented in a very clear and user-friendly framework. This textbook provides brief summaries every few pages to clarify the key points that are covered. Conceptual terms are highlighted and collected at the back of the book to form a supporting glossary of construction economics. Important definitions and formulas are picked out in second color. Brief extracts from academic journals link the book to primary literature, and are used to consolidate and prompt discussion.And finally website reviews are used to set the scene for each of the three parts comprising the text.
Students across a wide range of disciplines, ranging from construction management and construction engineering through to architecture, property and surveying should find this an invaluable textbook.