BCPM0002: The Economic Institutions of the Construction Industry

This module is in two main parts. Part (A) introduces students to the methods and concepts of modern microeconomics that can be effectively used to analyse the basic economic institutions, structure and relationships of construction. The perspective is that of decision-makers in a firms, facing constraints imposed by specific forms of competitions and market context. In part (B) we introduce the key ideas of macro-economics and use them to develop an understanding of the factors affecting the aggregate level of demand for construction firms within the contracting system and its constituent markets.