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Recent decades have seen a major social and economic changes across
the developed world and consequent changes in the construction and
property industries. The discipline of construction economics needs
to respond to this. For instance, the importance of sustainable
development has become recognised, as has the need to increasingly
master the medium and long-term consequences of construction, not
only in the production but also in the management of buildings
across their whole life-cycle. And the new focus on the service
rendered by buildings, as distinct from the buildings themselves,
has prompted a new approach to the construction and property
industries. Any economic analysis of these sectors has to take
account of all the participants involved in the life-cycle of
building structures - not only in the design and construction, but
also in the operation, maintenance, refurbishment and demolition of
property. This innovative new book draws on the work of the Task
Group of the CIB (International Council for Research and
Innovation) on Macroeconomics for Construction. It pulls together
discussions of mesoeconomic and macroeconomic models and
methodologies in construction economics and presents an exciting
approach to the analysis of the operation and function of the
construction and property sector within the economy. Graduate
students and researchers will find it an invaluable work.
Recent decades have seen a major social and economic changes across
the developed world and consequent changes in the construction and
property industries. The discipline of construction economics needs
to respond to this. For instance, the importance of sustainable
development has become recognised, as has the need to increasingly
master the medium and long-term consequences of construction, not
only in the production but also in the management of buildings
across their whole life-cycle. And the new focus on the service
rendered by buildings, as distinct from the buildings themselves,
has prompted a new approach to the construction and property
industries. Any economic analysis of these sectors has to take
account of all the participants involved in the life-cycle of
building structures - not only in the design and construction, but
also in the operation, maintenance, refurbishment and demolition of
property. This innovative new book draws on the work of the Task
Group of the CIB (International Council for Research and
Innovation) on Macroeconomics for Construction. It pulls together
discussions of mesoeconomic and macroeconomic models and
methodologies in construction economics and presents an exciting
approach to the analysis of the operation and function of the
construction and property sector within the economy. Graduate
students and researchers will find it an invaluable work.
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