5th Edition

Construction Economics A New Approach

By Danny Myers Copyright 2022
    368 Pages 65 Color Illustrations
    by Routledge

    368 Pages 65 Color Illustrations
    by Routledge

    Construction Economics provides students with the principles underlying the relationship between economic theory and the construction industry. Its new approach specifically examines the problems of securing sustainable construction and this fifth edition broadens the message to address the immediacy of the problems relating to the carbon-based world that we have constructed.

    Embracing the whole process of the construction life cycle, the new edition discusses the economic impact of the Covid pandemic on the industry and the broader implications of the promise to build back better. It also includes new coverage of the opportunities offered by technology, the establishment of higher standards to achieve greater energy efficiency and wellbeing, the adoption of the principles of a circular economy, the retrofit of existing buildings and the recycling of materials. New sections also highlight the methodology of the subject to identify the boundaries of construction economics and clarify what to expect and what can be achieved.

    As with previous editions, it retains a tried and tested format including:

    • a clear and user-friendly style
    • use of colour for emphasis
    • regular summaries of key points
    • a glossary of key terms
    • extensive use of tables, figures and data
    • readings from Construction Management and Economics
    • tutorial questions to review each section
    • research guidance
    • reviews of useful websites.

    This invaluable textbook is essential reading across a wide range of disciplines. It provides the economic context to the relevance of sustainability and debates about climate change, highlighting the vital contributions that surveyors, contractors, project managers, engineers, architects and developers can offer to take it forward.

    Introduction to the Fifth Edition

    Chapter 1: An Introduction to the Basic Concepts

    Reading 1

    Research Guidance: Introduction

    Part A Effective Use of Resources

    Chapter 2: Economic Systems for Resource Allocation

    Chapter 3: The Market Mechanism

    Chapter 4: The Theory of Demand

    Chapter 5: The Theory of Supply

    Chapter 6: Clients and Contractors

    Chapter 7: Costs of the Construction Firm

    Chapter 8: Types of Market Structure in the Construction Industry

    Reading 2

    Reading 3

    Research Guidance: Literature Review

    Part B Protection and Enhancement of the Environment

    Chapter 9: Markets for Green Buildings and Infrastructure

    Chapter 10: Market Failure and Government Intervention

    Chapter 11: Environmental Economics

    Reading 4

    Research Guidance: Data Collection

    Part C Economic Growth that Meets the Needs of Everyone

    Chapter 12: Managing the Macroeconomy

    Chapter 13: The Economy and Construction: Measurement and Manipulation

    Chapter 14: The Business Case: Inflation and Expectations

    Reading 5

    Research Guidance: Critical Thinking

    Chapter 15: Sustainable Construction

    Reading 6

    Reading 7

    Reading 8

    Research Guidance: Triangulation





    Danny Myers is an experienced author who worked for many years as a researcher and lecturer at the University of Bath and UWE in Bristol. He is currently an associate tutor at the University College of Estate Management.