Economic Theory and the Construction Industry
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Economic Theory and the Construction Industry

Economic Theory and the Construction Industry

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International Edition


About the Book

This revised edition of an established classic textbook brings the subject right up to date. It applies economic theory to the formation of demand on the construction industry and to the way the industry responds. This edition provides a topical assessment of the implication for competition of new methods of procurement, includes a new chapter on rehabilitation, repair and maintenance, and extends the use of theory to issues such as the problems of appropriate technology for developing countries, and contractors' diversification.

Table of Contents:
Preface to the First Edition Preface to the Second Edition Preface to the Third Edition Abbreviations and Acronyms PART I: INTRODUCTION The Nature of Construction Economics Some Basic Concepts in Economics The Construction Industry and the Economy PART II: THE DEMANDS ON THE CONSTRUCTION INDUSTRY Introduction Demand for Housing Demand for Industrial and Commercial Building Demand for Social Type Construction Demand for Refurbishment, Repair and Maintenance How Demand is Put to the Industry PART III: THE SUPPLY OF CONSTRUCTION Introduction Objectives of the Firm Costs of the Construction Firm Market Supply Curves Equilibrium in Various Market Situations Demand Curves Facing the Individual Firm Price Determination for a Single Project Conclusions on Costs, Revenue and the Equilibrium of the Contracting Firm PART IV: BROADER ISSUES Introduction Choice of Inputs and Capacity: The Project, the Firm and the Industry Markets and Strategy Appendix A: Indifference Curve Analysis Applied to the Demand for Housing Appendix B: Degree of Potential Surprise Analysis of Tendering References Index


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Product Details
  • ISBN-13: 9780333774793
  • Publisher: Palgrave MacMillan
  • Publisher Imprint: Palgrave Macmillan
  • Edition: Revised edition
  • Language: English
  • Returnable: Y
  • ISBN-10: 0333774795
  • Publisher Date: 12 Jun 2000
  • Binding: Paperback
  • Height: 216 mm
  • No of Pages: 224
  • Width: 140 mm


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