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Traditional building economics has primarily been concerned with issues around project appraisal and cost management techniques. On the other hand, modern construction economics has a wider focus with stronger links to mainstream economics, reflecting an increased interest in a range of theoretical issues in construction economics, both at the macro and micro level. In Modern Construction Economics: Theory and Application, a variety of approaches are used to present a coherent vision of synthesis between industry economics and project economics. 　

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The design and construction of buildings is a lengthy and expensive process, and those who commission buildings are continually looking for ways to improve the efficiency of the process. In this book, the second in the Building in Value series, a broad range of topics related to the processes of design and construction are explored by an international group of experts. The overall aim of the book is to look at ways that clients can improve the value for money outcomes of their decisions to construct buildings. The book is aimed at students studying in many areas related to the construction...