BLAR13047 - Construction Economics 1

General Information

Unit Synopsis

As you study this unit, your overall aim is to: understand macro economics, the markets and their dimensions, World and local economies and policy instruments; fully understand the effect of supply, demand prices and stocks; and become familiar with procedures, principles and methods of project costing, bills of quantities and life cycle analysis.


Level Undergraduate
Unit Level 3
Credit Points 6
Student Contribution Band 2
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites There are no pre-requisites for the unit.
Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2018

Term 1 - 2018 Profile
Term 1 - 2019 Profile

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Assessment Tasks

Assessment Task Weighting
1. Written Assessment 30%
2. Written Assessment 35%
3. Written Assessment 35%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%).

Consult the University’s Grades and Results Procedures for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2018 : The overall satisfaction for students in the last offering of this course was 4.5 (on a 5 point Likert scale), based on a 51.16% response rate.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Source: Unit Evaluation Survey
Comprehensive Study Guide, resources and YouTube lectures.Lectures were short, sharp and relevant - perfect! The lecturer's feedback and continuous forum posts are great and helpful - thank you.
The same teaching practice will be adopted next year.
Action Taken
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Describe the various activities, and marketplace relationships that exist in the national economy
  2. Explain the need for economic policy and the ability for policy to resolve economic problems
  3. Describe the impact of supply and demand on the construction industry
  4. Describe the basic requirements, procedures and benefits of building lifecycle costing and project cost estimating
  5. Have an understanding of how computer based estimating tools can assist the preparation of project costing, estimating and administration

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5
1 - Written Assessment
2 - Written Assessment
3 - Written Assessment
Alignment of Graduate Attributes to Learning Outcomes
Introductory Level
Intermediate Level
Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4 5
1 - Communication
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
6 - Information Technology Competence
Alignment of Assessment Tasks to Graduate Attributes
Introductory Level
Intermediate Level
Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9
1 - Written Assessment
2 - Written Assessment
3 - Written Assessment