Construction Economics

Synopsis

BPM201 Construction Economics provides students the theoretical and practical knowledge, and the analytical skills necessary to understand the key events that shape or affect the property markets and construction activities. The principles of economics and the rationalities behind the production, distribution, and consumption of goods and services are explained. These are then related to construction economics, the study of how individuals and groups make decisions with limited resources so as to best satisfy clients' wants, needs, and desires in property and construction businesses.

Level: 2
Credit Units: 5
Presentation Pattern: Every July

Topics

Introduction to Economics
Macroeconomics
Microeconomics
Governmental Intervention and Government Policies
Competition and Barriers
Government Policies (e.g. workers’ levy and man-year entitlements)
International Economics
Porter’s Diamond Model and Dunning’s Eclectic Paradigm
Property and Construction Cycles and Markets
Construction Data and Economic Evaluation Approaches
Construction Economics and Management
Risk Management

Learning Outcome

Outline the history and schools of thoughts in economics
Describe mechanisms and systems in microeconomics and macroeconomics
Explain the rationale for government intervention, and concepts such as “pump-priming”
Identify events that could affect the economy
Identify policies that could affect construction businesses
Evaluate the competitiveness of a firm in a market
Analyze market trends and developments and their impact on property and construction businesses

Part-time Programmes / CET Courses

Singapore University of Social Sciences

Construction Economics