Hours Per Week

Hours per Semester

Weighted Total Mark

Weighted Exam Mark

Weighted Continuous Assessment

Credit Units

LH

PH

TH

CH

WTM

WEM

WCM

CU

3

0

3

45

100

60

40

3

Course Description

The course in geared at taking the student through estimating, economic resources, feasibility studies, cost benefit analysis; and supply and demand.

Objectives/Aims

  • To enable the student understand estimation processes, inputs and outputs
  • To help the student master the different ways of assessing the viability of construction projects
  • To provide an understanding of supply and demand in the construction context

Course Outline

1. Estimating                                                                                                                                     [10 CH]

  • The Process
  • Inputs and Outputs of Estimating process
  • Methods of estimating
  • Cash flows

2. Economic resources: identification and allocation                                        [10 CH]

  • Economic resources
  • Reducible and irreducible factors
  • Priority analysis
  • Interest
  • Net Present Value, Equivalent Annual Cost, Payback Period, Profitability Index

3. Feasibility Studies                                                                                                                   [10CH]

  • Need for feasibility studies
  • Parties and processes in feasibility studies
  • Feasibility study reports 

4. Cost benefit analysis                                                                                                               [5CH]

  • Cost determination
  • Benefits and disbenefits
  • Cost benefit ratio analysis

5. Supply and demand                                                                                                              [10 CH]

  • Supply analysis
  • Demand analysis
  • Using demand and supply in construction
  • Elasticity of demand and supply in construction
  • Price Mechanism and allocation of resources
  • The role of government in construction demand and supply

 

Learning Outcomes

The course will help the student to:

  • Estimate for civil engineering projects
  • Carry out economic assessment and choose projects
  • Carry out feasibility studies and write reports
  • Analyse the supply and demand in construction

Method of Teaching/Delivery

The course will be conducted through lectures, tutorials and assignments. Basic lecture materials provided by the Lecturer will be supplemented by individual reading effort by students.

Assessment Method

Continuous assessment through assignments and tests, and final written examination. The final examination carry 60% of the total mark., while continuous assessment will carry a total of 40%.

Reading/ Reference Materials

  • Shutt, R. C. (1989) Economics of the Construction Industry, 2nd ed. Longman.
  • Harris, F. and McCaffer, R. (2001) Modern Construction Management, 5th ed., Blackwell Science.
  • Brech, E. F. (1971) Construction Management in Principle and Practice, 1st ed., Longman.
  • Thompson, P. A. (1981) Organisation and Economics of Construction, 2nd ed., McGrawHill.
  • Sepulveda, J. A., Souder, W. E., and Gottried, B. S. (1984) Engineering Economics, 1st ed., McGrawHill.

Attachments

Attachment Name Attachment Type

CIV 7102 Environmental Studies

DOC PDF PS
CMG 7101 Construction Economics