Economics of Building

This subject is not offered in 2016.

170 hours

Admission into one of the following courses:

MC-ARCH Master of Architecture
MC-ARCH2Y Master of Architecture (200 points)
MC-ARCH3Y Master of Architecture (300 points)
MC-LARCH Master of Landscape Architecture
MC-LARCH2Y Master of Landscape Architecture (200 points)
MC-LARCH3Y Master of Landscape Architecture (300 points)
MC-CM Master of Construction Management
MC-CONMG2Y Master of Construction Management (200 points)
MC-CONMG3Y Master of Construction Management (300 points)
MC-PROP Master of Property
MC-PROP2Y Master of Property (200 points)
MC-PROP3Y Master of Property (300 points)
MC-URPL Master of Urban Planning
234AA Master of Design
234AH Master of Design (Heritage)
373AA Graduate Diploma in Planning and Design

Or approval from the subject coordinator.

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This subject sets the context for an understanding of the operations of firms within the construction production process. This includes conducting statistical analysis of the data concerning construction. By analysing construction’s contribution to national income and its linkages to other sectors of the economy it is possible to draw conclusions and gain insights into the operations of firms involved in the production of the built environment.

• To understand the economic roles and relationships within the construction industry.
• To provide a realistic theoretical economic framework for understanding the construction sector.
• To examine who benefits from the system of production and how these benefits are distributed.
• To examine the economic concepts of the multiplier and the accelerator in relation to construction and construction firms.

• Class Participation (10%), demonstrating active involvement in a range of class activities and peer discussions.

• Assignment equivalent to 1000 words (20%) due in week 4, exploring and researching a topic relevant to the subject and identifying main sources of data and information.

• Assignment equivalent to 1000 words (20%) due in week 8, demonstrating an economic analysis of either a sub-sector of the construction industry or a system of production.

• Professional report equivalent to 3000 words (50%) due in week 12, demonstrating a high-level of analysis of a contemporary topic in this subject.

Ive and Gruneberg, The Economics of the Modern Construction Sector, Palgrave Macmillan, 2000.
Gruneberg and Ive, The Economics of the Modern Construction Firm, Palgrave Macmillan, 2000.
Finkel, The Economics of the Construction Industry, Sharpe, 1997.

This subject is not available as a breadth subject.

At the completion of the subject, students should have developed the following skills and capabilities:

• Ability to discuss policies related to construction and account for the behaviour of firms within the construction industry;
• Enable managers of construction firms to improve their decision making, strategic thinking and planning effort;
• Ability to understand the issues related to the business cycle and the causes and effects of variations in demand for construction.