A New Approach, 3rd Edition
Routledge – 2013 – 352 pages
Construction Economics provides students with the principles and concepts underlying the relationship between economic theory and the construction industry. The New Approach adopts an argument that economics is central to government initiatives concerning sustainable construction.
This edition has been revised to explain the effects of the current economic crisis on the construction industry. In addition, sections relating to less developed countries, the economics of sustainable development and theories relating to a firm's bid strategy have all been rewritten. With new data, examples, initiatives, readings, glossary items and references, the third edition of this established core text builds on the strengths of the previous edition:
This invaluable textbook is essential reading across a wide range of disciplines from construction management and civil engineering to architecture, property and surveying.
1. Introduction to Basic Concepts 2. Economic Systems for Resource Allocation 3. The Market Mechanism 4. The Theory of Demand 5. The Theory of Supply 6. Clients and Contractors 7. Theory of the Construction Firm 8. Types of Market Structure in the Construction Industry 9. Markets for Green Buildings & Infrastructure 10. Market Failure and Government Intervention 11. Environmental Economics 12. Managing the Macroeconomy 13. The Economy & Construction: Measurement & Manipulation 14. The Business Case: Inflation, Expectations and Interest Rates 15. Sustainable Construction
Danny Myers is a lecturer and researcher based in the School of the Built and Natural Environment at the University of the West of England, Bristol, UK, and visiting lecturer at the University of Bath, UK.