DA4042 - Development & Construction Economics

What will I learn on this module?

The demand for construction and property is generated from the global, national and regional economy. In this module you will learn how the surveyor works within the economic environment to provide the good and services demanded by society. You will learn about the basic and fundamental economic concepts such as demand and supply theory, market mechanism and macroeconomic objectives in order to develop an understanding of economic theory as applied to the construction industry and property. These fundamentals will be developed to help you understand money supply, the concept of risk and return and investment finance. Practical exercises will help you understand the components of value in property, property development and the construction process. You will learn about the role, key activities and the basic skills of the surveying and construction professions in different stages of the development and construction process with introductions to the key functions, professional practice techniques and concepts that are commonly deployed within the built environment such as property valuation, cost estimating and property procurement methods.

How will I learn on this module?

Most of your learning on this degree apprenticeship module will be in your workplace. You will gain a theoretical understanding of the topics through live (online or face-to-face) university sessions and online resources such as recorded lectures, videocasts, podcasts, electronic books, journal articles and websites. Your involvement in quantity surveying tasks will enable you to put the theory into context, thereby cementing your understanding. You will agree with your Workplace Mentor a Module Learning Plan (MLP) designed to achieve the Module Learning Outcomes via a series of directed workplace learning activities, such as shadowing a colleague, visiting a site or producing a poster. The subject matter of this module lends itself to practical exercises and projects based in the city, and applying the knowledge gained to the local property market.

Opportunities will also be provided for you to develop your understanding through peer and tutor interaction in discussion groups and research rich debates during live classroom or synchronous online seminars and workshops. You will be encouraged to draw on your own professional experiences to share best practice and contribute to debates.

Modules on your programme will typically span 11 weeks, with scheduled or directed activities each week, and one piece of summative assessment submitted in week 12 or 13. This may also be supplemented with up to one day of face-to-face interaction, if appropriate, at Northumbria University or a regional hub. In total the module will include around 11 hours of live ‘Seminars’ (synchronous classroom and online delivery via Blackboard Collaborate), 7 hours of recorded ‘Lectures’ (asynchronous online delivery via Blackboard or Blackboard Collaborate), 2 hours of ‘Tutorials’ (1-to-1 support from Workplace Mentor and Workplace Coach), and 40 hours of workplace learning activities. The remaining hours in the Notional Student Workload for the module are attributed to independent learning, with the estimated ratio of tutor-guided to student independent learning at 1:1, as appropriate for a Level 4 module. This is indicative and will vary between modules.

How will I be supported academically on this module?

Your module tutor(s) will deliver an online module induction session and lead live sessions that enable you to interact with your tutor and peers. They will provide and direct you to essential and recommended online resources available via the University’s eLearning Portal and University Library. Outside of live sessions, they will provide advice and respond to questions via the eLearning Portal.

Your Workplace Mentor will support you in developing your Module Learning Plan. You will be provided with a guidance document that outlines the principles of workplace learning and provides examples of a large and diverse range of potential workplace learning activities. You may also discuss your Module Learning Plan with your Workplace Coach.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to achieve?

Knowledge & Understanding:
MLO1: You will be able to discuss roles of the construction, surveying and property professions within the economy of the built environment.
MLO2: You will be able to review fundamental economic theories relevant to the construction and property industries.
MLO3: You will be able to explain the implications of micro and macro-economic concepts and theory to development and construction practice.

Intellectual / Professional skills & abilities:
MLO4: You will develop skills to use cost/value data and relevant cost/value management techniques to make informed economic decisions as a construction/ property professional.

Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):
MLO5: You will develop attributes of a professional including personal responsibility and the management of time and resources.

How will I be assessed?

You will be formatively assessed by the completion of the workplace learning activities identified in your Module Learning Plan. You will receive informal, often verbal, formative feedback from your Workplace Mentor, and sometimes from other colleagues and your Workplace Coach. You will also have the opportunity for formative feedback from your module tutor(s), particularly during assessment guidance sessions.

Your summative assessment will provide you with the opportunity to translate your workplace learning into a coherent output that demonstrates that you have achieved the module learning outcomes.

This will be in the form of an online open book exam (24-hour access, nominal 2 hours to complete), which will assess your knowledge and understanding of economic concepts and theories and their application in the construction and development industries including relevant data and decision-making techniques.

Pre-requisite(s)

N/A

Co-requisite(s)

N/A

Module abstract

This module is an integral part of your Degree Apprenticeship programme, designed in collaboration with employers to meet the requirements of the Chartered Surveyor Apprenticeship Standard and provide a solid skills base for career progression and professional qualification.

You will learn about fundamental economic concepts such as demand and supply theory, market mechanism and macroeconomic objectives in order to develop an understanding of economic theory as applied to the construction industry and property. You will begin to understand money supply, the concept of risk and return and investment finance. Practical exercises will help you to understand the techniques of property valuation, cost estimating and property procurement methods.

You will gain theoretical understanding through university sessions and online resources but as a Degree Apprentice, you will do most of your learning in the context of your quantity surveying role via a series of workplace learning activities agreed with your Workplace Mentor.

Course info

Credits 20

Level of Study Undergraduate

Mode of Study 4 Years Part Time

Department Architecture and Built Environment

Location City Campus, Northumbria University

City Newcastle

Start September 2022

Fee Information

Module Information

All information on this course page is accurate at the time of viewing.

Our Campus based courses starting in 2022 and 2023 will be delivered on-campus with supporting online learning content. We continue to monitor government and local authority guidance in relation to Covid-19 and we are ready and able to adjust the delivery of our education accordingly to ensure the health and safety of our students and staff.

On-campus contact time is subject to increase or decrease in line with any additional restrictions, which may be imposed by the Government or the University in the interest of maintaining the health and safety and wellbeing of students, staff, and visitors. This could potentially mean increased or fully online delivery, should such restrictions on in-person contact time be required.

 

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