Construction Economics

Unit code: NBC3004 | Study level: Undergraduate
(Generally, 1 credit = 10 hours of classes and independent study.)
Footscray Park
Online Real Time


This unit develops students understanding of fundamental micro and macro-economic principles. It consists of the application of the techniques and expertise of economics to the study of the construction company, the construction process and the construction industry.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Construct the feasibility studies for construction projects and business;
  2. Arbitrate and assess the market mechanism (demand, supply and equilibrium process) for construction firms (including inter-state and international companies) and analyse how this affects leadership and communication within construction businesses;
  3. Compose and evaluate key financial accounting data (costs, revenues and pricing) in order to make strategic business decisions for construction firms;
  4. Design and integrate key business strategies for the operation of construction businesses including management, marketing, personnel and resources strategies; and
  5. Elucidate the property development process, its investment risks and return on investment.

Study as a single unit

This unit can be studied on its own, without enrolling in a full degree.

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For Melbourne campuses

Assessment type: Assignment
Grade: 20%
Individual assignment report
Assessment type: Report
Grade: 30%
Group report and presentation
Assessment type: Test
Grade: 50%
Tests (2)

Required reading

Reading materials and other resources are listed in VU Collaborate.

As part of a course

This unit is studied as part of the following course(s):

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