This book deals with the economics of construction at three levels: the industry, the firm and the project. It is intended for a broad range of undergraduate students of the built environment - architect, surveyor, engineer. It is divided into three parts: the first 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 and a Visiting Lecturer at University College London and at the University of Bath, UK.

Preface
Acknowledgements
Introduction to the Economics of Construction
PART 1 The Construction Industry in an Historical Context
Contribution of the Construction Industry to the Economy Supply and Demand in Construction
Economic Structure of the Construction Industry
Labour Relations in the Construction Industry
PART 2 Costing in the Office Markets
Basic Accounting Concepts
Planning and Control of Firms and Projects
PART 3 Introduction to Feasibility Studies
Financial Appraisal
Cost Benefit Analysis
Index.