Teaching Responsibility
LJMU Schools involved in Delivery:
LJMU Partner Taught
Learning Methods
Lecture
Tutorial
Module Offerings
4605ICBTQS-AUG-PAR
4605ICBTQS-MAR-PAR
4605ICBTQS-SEP-PAR
4605ICBTQS-SEP_NS-PAR
Aims
To provide students with an introduction to economic and management theories and principles with reference to the built environment, property and society in general.
Learning Outcomes
1.
Define economic principles and review economic ideology
2.
Understand the dynamics of supply and demand mechanism for the built environment.
3.
Identify the causes and the impact of business cycles with reference to the construction and property industries.
4.
Review major theories to allocate organization’s resources to gain and sustain competitive advantage
in the construction market.
Module Content
Outline Syllabus:
Introduction to economics: Basic three economic problems, Scarcity, Opportunity Cost, Production Possibility Curve
Micro Economics: Supply law, Demand law, Equilibrium, Theory of cost & Production
Elasticity – Price Elasticity of demand and Price elasticity of Supply
Macroeconomics – Inflation, Unemployment, Exchange rates, Interest rates, GDP, impacts of macroeconomics to construction industry.
Building Economics – factors of building economics, building morphological factors
Fiscal policies (National and International)
Monetary Law and Financial Regulations
Price fluctuations impacts on construction
Exchange rate fluctuation impacts on construction
Interest rates fluctuation
The roles of the property sector and construction industry within the economy.
Cycles of activity within the property sector and the construction industry.
The inherent relationship between economy, construction and the firm.
Introduction to economics: Basic three economic problems, Scarcity, Opportunity Cost, Production Possibility Curve
Micro Economics: Supply law, Demand law, Equilibrium, Theory of cost & Production
Elasticity – Price Elasticity of demand and Price elasticity of Supply
Macroeconomics – Inflation, Unemployment, Exchange rates, Interest rates, GDP, impacts of macroeconomics to construction industry.
Building Economics – factors of building economics, building morphological factors
Fiscal policies (National and International)
Monetary Law and Financial Regulations
Price fluctuations impacts on construction
Exchange rate fluctuation impacts on construction
Interest rates fluctuation
The roles of the property sector and construction industry within the economy.
Cycles of activity within the property sector and the construction industry.
The inherent relationship between economy, construction and the firm.
Module Overview:
This module aims to provide students with an introduction to economic and management theories and principles with reference to the built environment, property, and society in general.
This module aims to provide students with an introduction to economic and management theories and principles with reference to the built environment, property, and society in general.