Module Title:Building Economics
Language of Instruction:English
Credits: 10
NFQ Level:8
Module Delivered In 2 programme(s)
Teaching & Learning Strategies: Lectures Private study
Module Aim: The aims of the subject are: (1) to develop a greater knowledge of the economic impact on the construction industry (2) to develop a greater knowledge of the costs associated with the construction and management of a building (3) to develop a knowledge of and understanding of the sources of building related cost information (4) to teach cost analysis, cost planning, cost modelling and value management skills; (5) to develop an understanding of the interrelationship of building costs and costs-in-use
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 To demonstrate an understanding of micro and macro economics and their impact on the construction industry
LO2 to demonstrate an understanding of and effectively carry out a economic appraisal
LO3 to demonstrate an understanding and to effectively participate in Cost Analysis, Cost Planning, Cost Modelling, Life Cycle Costing and Value Management work
LO4 to demonstrate an understanding of cost margins
LO5 to demonstrate an understanding of the cost implications of different procurement arrangements
LO6 to demonstrate an understanding of the impact of building design decisions on capital costs and costs-in-use
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
No requirements listed
 

Module Content & Assessment

Indicative Content
(1) Micro and Macro Economics
(a) Supply and Demand (b) Market Equilibrium (c) GDP (d) Inflation and deflation (e) fiscal policy
(2) Economic Appraisal, Value Management (30 hours lectures,
(a) Building Design economics and cost control (b) Economic/Development appraisal (c) Use of Estate Master and other software (d) Value Management (e) Capital Taxation and Grants (f) Cost Benefit Analysis
(3) Effective Cost Management (30 hours lectures)
(a) Relevance of building /capital/operational costs (b) Factors affecting building/capital/operational costs (c) management of cost models, cost standards and cost targets (d) Life cycle costings (f) Evaluating the non capital costs in design build and other procurement arrangements
Assessment Breakdown%
Continuous Assessment20.00%
Project40.00%
End of Module Formal Examination40.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Examination No Description 1,2,3,4,5,6 20.00 n/a
Project
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Project No Description 1,2,3,4,5,6 40.00 Sem 1 End
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam No Description 1,2,3,4,5,6 40.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture 30 Weeks per Stage 4.00
Estimated Learner Hours 30 Weeks per Stage 4.00
Total Hours 240.00
 

Module Delivered In

Programme Code Programme Semester Delivery
CW_CMFAC_B Bachelor of Science (Honours) in Facilities and Building Services Management 7 Mandatory
CW_CMQSU_B Bachelor of Science (Honours) in Quantity Surveying 7 Mandatory