Economics

With real-life case studies, a glossary of relevant terms and preview questions, exercises and discussion topics to reinforce learning, this book introduces the basics of economics and macroeconomics as they relate to the construction industry. Making no assumption of your prior knowledge, Economics introduces the basics of economics as they relate to the built environment. Looking at the principles of microeconomics (markets, price mechanisms, resource allocation, theory of the firm, etc.), these principles are put into the context of construction firms and property markets. Lively, real-life case studies are built into the text to provide concrete examples of the theories being explained and macroeconomics are also covered. Key features of this easy-to-use book include: clear chapter structure tutorial questions linking the case histories to basic principles extracts from newspaper and journal articles to show the relevance of economics to the construction industry 100% construction orientation a useful bibliography, glossary of economic terms preview questions at the start of each chapter and exercises and discussion topics at the end to test your understanding. Economics will enable you to understand the working of economic forces as they relate to the construction industry.