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Course Name (English)
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CONSTRUCTION ECONOMIC
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| Course Code |
CMA653 |
| Course Description |
The course is designed to provide students with fundamental as well as in-depth knowledge of economics for the built environment. It enables students to understand the roles and impacts made by the construction sector in the national economy; government policies aimed at tackling the macro and micro economic problems at both national and local levels. Students will be taught economic consideration as well as economic factors of building design. The variety of economic forces that shape the behaviour of firms in the built environment; key financial statements; liquidity and profitability management for firms’ survival; the importance of ratio measures and cost analysis for decision-making will also be covered. |
| Transferable Skills |
Critical Skills and Entrepreneurial Skills |
| Teaching Methodologies |
Lectures, Blended Learning, Tutorial |
| CLO |
| CLO1 |
Evaluate economic conditions, theories, and policy through investment appraisal, cost and design factors in determining project viability. |
| CLO2 |
Apply knowledge and information of National and Local Government Economic Policy in the Built Environment. |
| CLO3 |
Demonstrate articulation and curation in determining project viability through evaluation of investment appraisal cost and financial analysis. |
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| Pre-Requisite Courses |
No course recommendations |
| Reading List | | Recommended Text | - Construction Industry Development Board Malaysia (CIDB) 2017, Construction Industry Transformation programme (2016-2020), CIDB Publications Kuala Lumpur [ISBN: 9789675317965]
- Park, C. S. 2012, Fundamentals of Engineering Economics, 3rd Edition Ed., Pearson London [ISBN: 978-013277542]
- Eschenbach, T. G. 2010, Engineering Economy-Applying Theory to Practice, 3rd Edition Ed., Oxford University Press New York [ISBN: 978-019977276]
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| Reference Book Resources | - Hillebrandt, P.M. 2000, Economic Theory and the Construction Industry, 3rd Edition Ed., Macmillan Press Ltd London [ISBN: 978-033377479]
- Ruddock, L. 2008, Economics for the Modern Built Environment, Routledge [ISBN: 978-041545425]
- Ofori, G. 2012, New Perspectives on Construction in Developing Countries, Routledge [ISBN: 978-041558572]
- Cheng, F. l., John, C. L. 2016, Financial Analysis, Planning and Forecasting: Theory and Application, 3rd Edition Ed., World Scientific Publishing Company [ISBN: 978-981270608]
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| Article/Paper List | | Recommended Article/Paper Resources | - Chang, Y.-T. and S.-H. Hsieh 2019, Preliminary Case Study on Circular Economy in Taiwan’s Construction, IOP Conference Series: Earth and Environmental Science
- Núñez-Cacho, Pedro Górecki, Jaros?aw Molina, Valentín Corpas-Iglesias, Francisco Antonio 2018, New Measures of Circular Economy Thinking In Construction Companies, Journal of EU Research in Business, 2018
- Olanrewaju, OI Idiake, JE Oyewobi, LO 2018, GLOBAL ECONOMIC RECESSION: CAUSES AND EFFECTS ON NIGERIA BUILDING CONSTRUCTION INDUSTRY, Journal of Surveying, Construction and Property, 9, 918 [ISSN: 1985-7527]
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| Other References | This Course does not have any other resources |
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