Construction Economics

BTEC HND in QS & BE

Unit / Module Construction Economics

Assessment Assignment: Types of Economics & Construction industry behaviour

Lecturer

Student Name ID QS/…………….

Date Handed Over Date Due

Initial Submission DateRe-Submission Date

Stud

ent t

o Ti

ck if

Grading Opportunity

Criteria Met?

Assessor FeedbackInitially

On Resubmission

P1.1

P1.2

P1.3

P1.4

P 2.1

P 2.2

P 2.3

P2.4

P3.1

P3.2

P 4.1

P 4.2

P 4.3

Construction Economics International College of Business and Technology

Lecturer – Indra M.Rajapakse

Chartered Quantity Surveyor, Chartered Builder, Dip. Arbitrator

BTEC HND in QS & BE

M1

M2

M3

D1

D2

D3

Assessed by (name):

Signature: Date Assessed :

Student Signature & Comments

Important Information for Students

The criteria each task relates to are shown against that task where possible.

Please note that plagiarism is treated as a serious offence and therefore the work you produce must be

individual and original although may work in groups in some instances (Please refer to Student Handbook on

Plagiarism & Cheating).

All sources of information must be referenced using “Harvard referencing” where a reference

list/Bibliography should be included at the end of the assignment.

Please note that the submission date given for this assignment is the final date that you can hand over the

assignment. A one week grace period maybe extended with prior approval from the Program Manager –

Undergraduate. However, note that submissions handed in one week late will be graded lower (Please refer

to the Student Handbook on Assessments - Late Submissions & Penalties).




BTEC HND in QS & BE

Assignments returned to students for re-working must be re-submitted within 10 days (Please refer to

Student Handbook on Assignments – Re-submission).

Failure to re-submit the previously marked assignment with the re-submitted assignment will mean that

results cannot be released for the respective unit.

Please read, follow and reference both the contents of the unit outline and the grading criteria of the

assignment before completing this assignment.

Plagiarism:While research and discussion are an essential part of an assignment, the deliberate copying of someone else’s

work or unacknowledged copying from printed or electronic sources is NOT permitted. You may be subject to

disciplinary procedure if you do this. You should sign this sheet to show that you comply with these regulations.

Student’s Signature: ………………………………………………………... Date: .……………..……………

Student’s Comments: …………………………………………………………………..………………………..…………… ………………

…………………… ………………………………...…………………….………….... …………………………………………… …………………..

……………………..………………… ………………………………………………… ……………..…………… ………..……… …………

Assessment has been internally verified for use.

Internal Verifier Name:

Signature : Date Verified :

Assignment 02 - Construction Economics




BTEC HND in QS & BE

ScenarioThe construction investment in Sri- Lanka has followed the economic changes that took place during the last decade. This resulted in a significant change particularly in the supply side of the construction industry. Projections towards the new millennium reveal that government policies will be the key deterministic factor with its traditional role changing from that of an investor and a regulator to that of a facilitator in construction.

While these policies lead to a larger private sector participation in infrastructure and industrial development with increased foreign participation, it has also put the domestic industry under pressure to change due to such developments. As such, the role of the contracting firms together with the project delivery process and project procurement will be subject to change to meet new demand conditions. This new project culture will face many constraints that originate locally from financial, technological and management deficiencies and construction industry development will be necessitated to accommodate new trends in order to be beneficial. Both corporate development and wider industry development will be necessary.

TASK

P1.1 Using as examples; analyze the fundamental differences between the theoretical operations of free market and planned economies

P1.2 Explain the operation of the price mechanism for construction product in free market economy

P1.3 Draw examples of supply and demand curves from selected data and determine equilibrium points for construction product

P1.4 Illustrate the conclusions derived from the results obtained by carrying out a cost benefit analysis using selected set of information

P2.1 Using a chart compare the differences between perfect, imperfect and monopolistic competition markets

P2.2 Using Sri Lankan construction industry as an example explain how economies of scale can affect profitability within the construction industry

P2.3 Using production possibility frontier explain the increasing or decreasing




BTEC HND in QS & BE

returns of scale for construction product

P2.4 Identify and describe suitable sources of finance for given projects and business types likely to be found within the construction industry in Sri Lanka

P3.1 Using recent data concerning the different sectors, size and number of organizations and volumes of work completed, within the construction industry analyze the performance of the Sri Lankan construction industry using appropriate charts and graphs

P3.2 Propose possible economic reasons for results shown on the charts and graphs in the Annual Survey of Construction Industries 2009-Department of Census and statistics report(htt p:/ /www.statis ti cs.gov.lk/ industr y/Annu alS urv e yCon Industri es2009.pdf )

P4.1 Review the different forms of direct and indirect taxation operating within the Sri Lanka at the present time, giving examples of their implications for construction

P4.2 Assess how government policy can affect the operation of the construction industry in Sri Lanka.

P4.3 Evaluate the consequences of varying exchange rates on the levels of international trade on Sri Lankan economy.




http://www.statistics.gov.lk/industry/AnnualSurveyConIndustries2009.pdf)

BTEC HND in QS & BE

M1 Identify and apply strategies to find appropriate solutions

Effective judgments have been made Complex problems with more than one

variable have been explored An effective approach to study and research

has been applied

Identify the nature of macro and micro economy using effective approach

M2

Select/design and apply appropriate methods/technique.

Relevant theories and techniques have been applied

A range of methods and techniques have been applied

A range of sources of information has been used The selection of methods and

techniques/sources has been justified the design of methods/techniques has been justified

Complex information/data has been synthesized and processed appropriate learning methods/techniques have been applied

Range of Sri Lankan examples & datasets to be used to compose answers

M3Present andcommunicate findings

The appropriate structure and approach has been used Coherent, logical development of principles/concepts for the intended audience

A range of methods of presentation have been used and technical language has been accurately used Communication has taken place in familiar and unfamiliar contexts

The communication is appropriate for familiar and unfamiliar audiences and appropriate media have been used

Identify proper structure for the information present regarding macro and micro economic behavior




BTEC HND in QS & BE

D1

Use critical reflection to evaluate own work and justify valid conclusions.

Conclusions have been arrived at throughsynthesis of ideas and have been justifiedThe validity of results has been evaluated using defined criteriaSelf-criticism of approach has taken place Realistic improvements have been proposed against defined characteristics for success

Self criticism on observed information on macro and micro economics performances

D2

D 2 Take responsibility for managing and organizing activities

Autonomy/independence has been demonstrateSubstantial activities, projects or investigations have been planned, managed and organizedActivities have been managedThe unforeseen has been accommodatedThe importance of interdependence has been recognized and achieved

Investigatingprojects & other activities to support the behavior of construction sector

D3 Demonstrateconvergent/lateral/creative thinking

Ideas have been generated and decisionstakenSelf-evaluation has taken placeConvergent and lateral thinking have been appliedProblems have been solvedInnovation and creative thought have been appliedReceptiveness to new ideas is evident

Effective thinking has taken place in unfamiliar contexts

Innovative and logicalreasoning of findings regarding economic performance of construction product




Grading Assignment

P1.1 √

P1.2 √

P1.3 √

P1.4 √

P 2.1 √

P 2.2 √

P 2.3 √

P2.4 √

P3.1 √

P3.2 √

P 4.1 √

P 4.2 √

P4.3 √

M1 √

M2 √

M3 √

D1 √

D2 √

D3 √

BTEC HND in QS & BE




Documents

Construction Economics