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Construction Economics: An Introduction

Written by: Stephen Gruneberg

Construction Economics: An Introduction deals with the economics of construction at three different levels, from the industry, the firm and the project. It is intended for a broad range of undergraduate students of the built environment – Architect, Surveyor and Engineer.

The book is divided into three parts:

Part 1 deals with the construction industry, its economic development, structure and role in the economy. Construction is seen as a production process.

Part 2 covers the practical management of firms and examines costs, revenues and markets from the point of view of economists and managers.

Part 3 deals with strategic decision making involved in property development and project appraisal and looks at feasibility studies. It links the economics of the production process of construction to the economics of its output, namely the buildings and structures of the built environment.

Stephen Gruneberg is an economist with an interest in the construction industry, since 1988 he has been a Senior Lecturer in Economics in the School of Construction at South Bank University. He is also a visiting lecturer at University College London and at the University of Bath.

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