Efnisyfirlit

• Cover Page
• Half Title page
• Series page
• Title Page
• Copyright Page
• Contents
• Preface
• Dedication
• Using this book
• Acknowledgements
• 1 Why economics?
• Preview
• Scarcity, choice and costs
• The process of production
• Transformation curves
• Production possibility frontier
• A note on terminology
• Workshop
• 2 Economic systems
• Preview
• Market economies
• Market failure
• Planned econonhes
• Changing circumstances
• Postscript
• Workshop
• 3 The market mechanism
• Preview
• The market
• Demand
• Supply
• Price deternination
• Price elasticity
• Other types of elasticity
• A further note on calculating elasticity
• Workshop
• 4 Factor markets: land
• Preview
• Demand for factors of production
• Economic characteristics of land
• Theory of rent
• Law of diminishing marginal returns
• Workshop
• 5 Factor markets: labour
• Preview
• Labour supply
• Effects of wage rates (price of labour) on labour supply
• Job opportunities and marginal revenue
• Workshop
• 6 Factor markets: capital
• Preview
• Capital as a factor of production
• The cost of investment in capital goods
• Demand for capital
• Workshop
• 7 Competition and monopoly
• Preview
• The role of competitive markets
• Competition not always preferable
• Controlling monopoly powers
• European competition policy
• Workshop
• 8 Theory of the firm
• Preview
• Firms and their objectives
• Satisfying different interests
• Mergers and takeovers
• Workshop
• 9 Profit maximization
• Preview
• Costs and output
• Perfect competition
• Monopoly
• Discriminating monopoly
• Monopolistic competition
• Workshop
• 10 Size of firms
• Preview
• The scale of operations
• Economies of scale
• Diversification
• Dhseconoivhes of scale
• Small firms
• The construction industry
• Workshop
• 11 The construction industry
• Preview
• A statistical snapshot of the industry
• Construction and other industries
• Demand for construction work
• Supply side characteristics
• Workshop
• 12 ompetition and pricing in the construction industry
• Preview
• Pricing by tender
• Alternative methods of procurement
• Choice of system
• Competition in construction markets
• Workshop
• 13 Forms of business organization
• Preview
• Smaller firms: sole proprietors and partnerships
• Limited liability companies
• Public sector construction enterprises
• Workshop
• 14 Marketing
• Preview
• Looking at marketing
• Looking at customers
• Looking at others
• Looking inward
• Looking ahead
• Workshop
• 15 Productivity
• Preview
• Productivity and efficiency
• Usefulness of productivity measures
• Site productivity
• Productivity at industry level
• Workshop
• 16 The workforce
• Preview
• Workforce planning
• Motivation
• Subcontract labour
• Training and shills
• Workshop
• 17 Capital equipment
• Preview
• What is ‘capital’?
• Capital investment in the construction industry
• Substitution of labour by capital
• Plant hire
• Industrialized building methods
• Workshop
• 18 Land and site values
• Preview
• Determining the value of land
• Land values and land use
• Role of planning
• Changes of use and redevelopment
• Appendix: site appraisal by residual valuation
• Gross development value
• Development costs
• Residual for land purchase
• 19 Financing the firm
• Preview
• Circulation of funds in a business: working capital
• Financial requirements of different businesses
• Company gearing
• Sources of long-term funding
• Short-term funds
• Recent trends
• Workshop
• 20 Externalities and cost-benefit analysis
• Preview
• Externalities
• Cost-benefit analysis
• Value of cost-benefit techniques
• Workshop
• 21 The national income
• Preview
• Measuring economic performance
• Interpreting the statistics
• Determining the level of national income
• Demand management policies
• The accelerator
• Trade cycles
• Workshop
• 22 The money supply
• Preview
• The value of money
• What is money?
• Credit creation
• The need for monetary controls
• Instruments of monetary policy
• Monetary policy and the construction industry
• Monetary policy and the erm
• Supply-side measures
• Case studies
• 23 Housing policy
• Preview
• Origins of public policy on housing
• Growth of public sector housing
• Aims of housing policy
• Effects of rent controls
• State subsidies for housing
• Recent trends
• Subsidizing owner-occupiers
• ‘A property owning democracy’
• Workshop
• 24 International trade
• Preview
• Reasons for internation al trade
• Theory of comparative advantage
• Growth of overseas construction markets
• Opportunities in the european union
• International competition
• Appendix: competition in the single european market
• Workshop
• Glossary
• Further reading
• Index