CONSTRUCTION ECONOMICS AND PROCUREMENT

SHE Level 5
SCQF Credit Points 15.00
ECTS Credit Points 7.50
Module Code MMK221197
Module Leader John Lowe
School School of Computing, Engineering and Built Environment
Subject Construction and Surveying
Trimesters
  • A (September start)
  • C (May start)

Summary of Content

This module operates a 50% pass rate overall. There are four main themes contained within this Module: Construction economics: A macro overview of the structure of the construction sector including materials supply and relationships with the economy as a whole. Input output economics: The implications of linkages New Institutional Economics: Outline of the structure of New Institutional Economics. Transaction cost economics and its application to the construction sector. The implications on procurement and supply chains Game Theory: Introduction to the applications of game theory in construction and development.

Syllabus

This module will include: - The economics of the construction sector - Construction firms and market structure - Trade and property cycles - Technological change and construction - Procurement - Supply Chain Management - International construction markets

Learning Outcomes

On successful completion of this module students should be able to:1 Prepare a simple forecast of future construction work using economic models and analyze and evaluate the impact of such on the construction and materials sectors.2 Prepare an economic intelligence report on issues affecting the construction industry in the UK and internationally.(A1, A4, A5, A6, B1, B5, B6, C1 & C4.)

Teaching / Learning Strategy

A web-based form of delivery will be used throughout the module. All students will use the web for all of their teaching and learning materials. Full-time and part-time students will be able to participate in seminars that will facilitate discussion and allow them to meet visiting speakers and take part in site visits and simulations where appropriate. The country and market report will involve an in-depth analysis of a selected country giving information on the prospects for construction and inherent problems. The project report will involve the analysis of a development programme on the economics of the country concerned.

Indicative Reading

Hillebrandt P M (2000) Economic theory and the Construction Industry, MacMillan. Ashworth A Cost Studies of Buildings (2004), Pearson. Kirkham. Richard: Ferry and Brandon's Cost Planning of Buildings (2007), Blackwell, London. Myers Danny: Construction Economics: a new approach, second edition (2008), Taylor and Francis, London. Paul N. Balchin, Jeffrey L. Kieve, Gregory H. Bull (1995): Urban Land Economics and Public Policy, Palgrave Macmillan, London. Fleming Q.W. (2003) Project Procurement Management: Contracting, Subcontracting, Teaming. Quentin Fleming. Sponsoring Change: A Guide to the Governance Aspects of Project Sponsorship (2009) Association for Project Management ISBN: 978-1903494301 Analysis for financial management, Higgins, Robert C, 10th Edition (For Oman Student Only) Bi financial Mnagement & Accounting System, Nadhani A.K (For Oman Student Only) Costruction Accounting and Financial Management, Petrson Steven J 3rd Edition (For Oman Student Only) International Financial Management , Apte P.G (For Oman Student Only)

Transferrable Skills

D1 - Critical thinking and problem solving; D2 - Cognitive/intellectual skills; D3 - Knowledge and understanding in the context of the subject; D5 - Learning style and orientation to learning; D6 - Time management (organising and planning work); D7 - Independent working; D8 - Planning, monitoring, reviewing and evaluating own learning and development; D10 - Information retrieval skills; D11 - Utilising labour market information D12 - Group working D13 - IT Skills D14 - Communication skills, written, oral and listening

Module Structure

Activity Total Hours
Assessment (FDL) 20.00
Seminars (FT) 20.00
Independent Learning (FT) 110.00
Independent Learning (PT) 110.00
Independent Learning (FDL) 130.00
Assessment (PT) 20.00
Seminars (PT) 20.00
Assessment (FT) 20.00

Assessment Methods

Component Duration Weighting Threshold Description
Coursework 1 n/a 40.00 45% Individual assignment: country and market analysis
Coursework 2 n/a 60.00 45% Group assignment: national development programme