BLDG 4003 Construction Economics

Credit Points 10

Legacy Code 200504

Coordinator Xiaohua Jin Opens in new window

Description This subject is designed to provide students with: an understanding of economic principles, national and international economic issues; general investment issues; how the national and international economy functions; how the building industry and the building firm relates to the national and international economy; and how economic reasoning may be applied to various problems in the building industry.

School Eng, Design & Built Env

Student Contribution Band HECS Band 2 10cp

Check your HECS Band contribution amount via the Fees page.

Level Undergraduate Level 4 subject

Assumed Knowledge

Building construction including residential, light industrial and small commercial as covered in the subjects Building 1 and Building 2 and building measurement as covered in quantity surveying 1 and Estimating as covered in Estimating 1.

Learning Outcomes

On successful completion of this subject, students should be able to:
  1. Contextualise the role of the Australian construction industry in the local and international economy
  2. Explain the supply and demand of goods and services in the general economy and in the context of the Australian construction industry
  3. Discuss the relationship between prices and output in a general economic system
  4. Summarise the national economic policy including fiscal and monetary policy
  5. Develop a business plan for an Australian construction firm
  6. Examine the effect of globalisation on the local economy
  7. Explain competencies required for successful business development using theories and principles of economics

Subject Content

Construction economics
Construction industry and Financial Markets: Stock market capitalisation; Yield; Project finance
Fiscal policy. Monetary policy
The supply and demand for goods and services
The Structure of the Construction Industry
Economic Policies and the Building Industry
Principles of marketing
Business Planning for construction firms
Prices and output
National economic policy
International economics
Globalisation
Current economic issues and future directions

Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Item Length Percent Threshold Individual/Group Task
Assignment 1 - report Group report 3000 words 30 N Group
Assignment 1 - Individuals' presentations Not specified 10 N Individual
Mid-semester quiz 1 hour 20 N Individual
Final Exam 2 hours 40 N Individual

Teaching Periods

2022 Semester 1

Penrith (Kingswood)

Evening

Subject Contact Xiaohua Jin Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

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Parramatta - Victoria Rd

Evening

Subject Contact Xiaohua Jin Opens in new window

Attendance Requirements 80% attendance rate is imposed in all core subjects’ due to the nature of class activities that are aligned with subject assessments.

View timetable Opens in new window