Economics: A Foundation Course for the Built Environment

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ISBN: 9780419182603 | 0419182608
Cover: Nonspecific Binding
Copyright: 9/19/1994

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It will introduce you to the basics of economics as they relate to the built environment by looking at the principles of microeconomics (markets, price mechanisms, resource allocation, theory of the firm, etc.) and then put these principles into the context of construction firms and Property markets.

Why economics
Preview
Scarcity, choice and costs
The process of production
Transformation curves
Production possibility frontier
A note on terminology
Case study
Workshop. Economic systems
Preview
Market economies
Market failure
Planned economies
Changing circumstances
Postscript
Case studies
Workshop. The market mechanism
Preview
The market
Demand
Supply
Price determination
Price elasticity
Other types of elasticity
A further note on calculating elacticity
Case studies
Workshop
Factor markets: labour. Preview
Labour supply
Effects of wage rates (price of labour) on labour supply
Job opportunities and marginal revenue
Case studies
Workshop
Factor markets: capital. Preview
Capital as a factor of production
The cost of investment in capital goods
Demand for capital
Case studies
Workshop."L Competition and monopoly. Preview
The role of competitive markets
Competition not always preferable
Controlling monopoly powers
European competition policy
Case studies
Workshop
Theory of the firm
Preview
Firms and their objectives
Satisfying differenct interests
Mergers and takeovers
Case studies
Workshop
Profit maximization
Preview
Costs and output
Perfect competition
Monopoly
Discrimination monopoly
Monopolistic competition
Case studies
Workshop
Size of firms
Preview
The scale of operations
Economies of scale
Diversification
Diseconomies of scale
Small firms
The construction industry
Case studies
Workshop
The construction industry
Preview
A statistical snapshot of the industry
Construction and other industries
Demand for construction work
Supply side characteristics
Case studies
Workshop
Competition and pricing in the construction industry
Preview
Pricing by tender
Alternative methods of procurement
Choice of system
Competition in construction markets
Case studies
Workshop
Forms of business organization
Preview
Smaller firms: sole proprietors and partnerships
Limited liability companies
Public sector construction enterprises
Case studies
Workshop. Marketing
Preview
Looking at marketing
Looking at customers
Looking at others
Looking inward
Looking ahead
Case studies
Workshop.
Productivity
Preview
Productivity and efficiency
Usefulness of productivity measures
Site productivity
Productivity and industry level
Case studies
Workshop
The workforce
Preveiw
Workforce planning
Motivation
Subcontract labour
Training and skills
Case studies
Workshop
Capital equipment
Preview
What is 'capital'?
Capital investment in the construction industry
Substitution of labour by capital
Plant hire
Industrialized building methods
Case studies
Workshop. Land and site values
Preview
Determining the value of land
Land values and land use
Role of planning
Changes of use and redevelopment
Appendix: Site appraisal by residual valuation
Case studies
Workshop
Financing the firm
Preview
Circulation of funds in a business: working capital
Financial requirements of different businesses
Company gearing
Sources of long-term funding
Short-term funds
Recent trends
Case studies
Workshop
Externalities and cost-benefit analysis
Preview
Externalities
Cost-benefit analysis
Value of cost-benefit techniques
Case studies
Workshop
The national income
Preview
Measuring economic performance
Interpreting the statistics
Determining the level of national income
Demand management policies
The accelerator
Trade cycles
Case studies
Workshop
The money supply
Preview
The value of money
What is money?
Credit creation
The need for monetary controls
Instruments of monetary policy
Monetary policy and the const
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Economics: A Foundation Course for the Built Environment

Summary

Table of Contents

Supplemental Materials