QUSU09001 2019 Construction Economics and Finance

General Details

Full Title
Construction Economics and Finance
Transcript Title
Construction Economics and Fin
Code
QUSU09001
Attendance
N/A %
Subject Area
QUSU - Quantity Surveying
Department
CENG - Civil Eng. and Construction
Level
09 - NFQ Level 9
Credit
05 - 05 Credits
Duration
Semester
Fee
Start Term
2019 - Full Academic Year 2019-20
End Term
9999 - The End of Time
Author(s)
Daniel Clark Hagan
Programme Membership
SG_SPROJ_M09 201900 Master of Science in Science in Project Management SG_SMECH_S09 201900 Level 9 Special Purpose Award in Science in Mech & Elec Quantity Surveying SG_SPROJ_O09 201900 Postgraduate Diploma in Science in Project Management SG_SSTRA_S09 201900 Certificate in Strategic Construction Management SG_SCONS_S09 201900 Certificate in Construction Law, Procurement and Finance
Description

This module introduces the student to tha various economic schools and examines the economics of the construction sector and  the economic environment in which construction firms operate. The module also aims to develop the students awareness and understanding of financial management in construction and how companies structure their finances and the sources of capital. The module will introduce the leaner to various methods for construction project appraisal, with particular emphasis on; Net Present Worth evaluation, Equivalent Annual Worth  and Internal Rate of Return techniques.

Learning Outcomes

On completion of this module the learner will/should be able to;

1.

Critically appraise the importance of the construction industry to the economy.

2.

Develop an understanding of the effects of macroeconomic policies on construction firms and their response to such policies.

3.

Analyse and assess the theories of corporate and financial planning of organisations in the construction industry and appreciate the relevance of business strategy to construction contractors.

4.

Demonstrate a critical awareness of the need for financial management in construction.

5.

Financially appraise and evaluate alternative schemes and strategies.

Teaching and Learning Strategies

This module will be delivered using blended learning techniques.
For full time students this will include classroom based learning, augmented with workshops,
work based learning and where relevant along with guest lectures and augmented by
independent learning and directed learning.
For online Learners, this will include online lectures (via adobe connect or similar), workshops
and work based learning where relevant along with guest lectures and augmented by
independent learning and directed learning.
This approach is expected to address student learning needs.
Moodle will be used to upload educational material (i.e. presentations and recordings of online
lectures plus supplementary reading material and additional resources).
Moodle will also be further used as a means of assessment, utilising online quizzes, for the
uploading of assignments and reports.
This multi-faceted, blended approach of; lectures, workshops and online resources fosters
collaborative student learning.

Module Assessment Strategies

Module will be assessed using a combination of end of semester final exam (60%), continuous
assessment and course work (40%).

Repeat Assessments

Repeat Continuous Assessment and/or Final Exam.

Indicative Syllabus

1.    Examine the role of the construction industry within our economy.

2.    Financial management at project level using cash flow forecasting, cost control and cost value reconciliation.

3.    Company level corporate and financial planning within the construction industry.

4.    Investment and development appraisal techniques.

5.    Government policy instruments.

6.    Macroeconomics objectives.

7.    Sensitivity of the construction market to economic cycles.

8.    Measuring economic activity.

9.    Economic comparisons - Net present worth comparison, Equivalent Annual Worth, Internal rate of Return.

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
40 %
End of Semester / Year Formal Exam
60 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Continuous Assessment Continuous Assessment UNKNOWN 40 % OnGoing 1,2,3,4,5
             
             

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Final Exam Final Exam UNKNOWN 60 % End of Term 1,2,3,4,5
             
             

Full Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Lecture Lecture Theatre Construction Economics and Finance 3 Weekly 3.00
Independent Learning UNKNOWN Construction Economics and Finance 4 Weekly 4.00
Total Full Time Average Weekly Learner Contact Time 3.00 Hours

Part Time Mode Workload


Type Location Description Hours Frequency Avg Workload
Online Lecture Online Construction Economics and Finance 3 Weekly 3.00
Independent Learning UNKNOWN Construction Economics and Finance 4 Weekly 4.00
Total Part Time Average Weekly Learner Contact Time 3.00 Hours

Online Learning Mode Workload


Type Location Description Hours Frequency Avg Workload
Online Lecture Distance Learning Suite Lecture 1 Weekly 1.00
Total Online Learning Average Weekly Learner Contact Time 1.00 Hours

Required & Recommended Book List

Required Reading
2001-07-24 Engineering Project Appraisal Wiley-Blackwell
ISBN 0632056061 ISBN-13 9780632056064

Today, practicing engineers need to understand the economic, environmental and social contexts of a development project and be able to resolve problems that arise in these areas. Accredited professional engineering courses (including SARTOR approved courses) now require students to develop an awareness of the economic, financial, social and environmental factors of a development project, along with an understanding of risk analysis and quality systems. Therefore, to be successful, engineering projects must be properly planned and those plans assessed and evaluated on their merits. This book provides details on the evaluation techniques required to assess project plans, and information on both economic and non-economic methods of project appraisal. Working examples and case studies are given to illustrate the applicability of each set of techniques. Engineering Project Appraisal will prove an invaluable and informative guide for both students and practitioners involved in the area of engineering project planning.

Module Resources

Non ISBN Literary Resources

Martin Rogers 2001 Engineering Project Appraisal Wiley-Blackwell
ISBN-10 0632056061 ISBN-13 9780632056064

Journal Resources

Journal of Construction Economics and Building

URL Resources

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Other Resources

1.      Irish Times.

2.      Financial Times.

3.      Central Bank Quarterly Reports.

Additional Information

PC, broadband, final examination centres.
IT Sligo Library
Transport to site visits and laboratories as required.
Remote proctoring for final exam supervision provided for international students who cannot
travel to exam centres.
Laboratories, Flat classrooms, Final examination centres.
For proposed online modules - Remote proctoring facilities will be required.