Built Environment Economics (10145.1)

This unit introduces students to macro and micro economic concepts as they apply to the construction and property industries. The business cycle and the role of fiscal and monetary policy are covered, and their effect on the property and construction industries explored. Other topics include market structures, government intervention and regulation, consumer behaviour and an examination of the domestic built environment industry within an international context.

Learning outcomes

On successful completion of this unit, students will be able to:
1. Examine macro and micro economic fundamentals and drivers of the built environment;
2. Appraise the importance and impact of the construction business cycle within the economy;
3. Assess the impact of monetary and fiscal policy on the built environment sector; and
4. Evaluate the context of the domestic built environment industry within an international setting.

Graduate attributes

1. UC graduates are professional - communicate effectively
1. UC graduates are professional - display initiative and drive, and use their organisation skills to plan and manage their workload
1. UC graduates are professional - employ up-to-date and relevant knowledge and skills
1. UC graduates are professional - take pride in their professional and personal integrity
1. UC graduates are professional - use creativity, critical thinking, analysis and research skills to solve theoretical and real-world problems
2. UC graduates are global citizens - adopt an informed and balanced approach across professional and international boundaries
2. UC graduates are global citizens - make creative use of technology in their learning and professional lives
2. UC graduates are global citizens - think globally about issues in their profession
2. UC graduates are global citizens - understand issues in their profession from the perspective of other cultures
3. UC graduates are lifelong learners - adapt to complexity, ambiguity and change by being flexible and keen to engage with new ideas
3. UC graduates are lifelong learners - be self-aware
3. UC graduates are lifelong learners - evaluate and adopt new technology
3. UC graduates are lifelong learners - reflect on their own practice, updating and adapting their knowledge and skills for continual professional and academic development

Corequisites

None.

Assumed knowledge

None.