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.

Details

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

Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2024

Term 1 - 2024 Profile
Online
Term 1 - 2025 Profile
Online

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 Policy for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2023 : The overall satisfaction for students in the last offering of this course was 100.00% (`Agree` and `Strongly Agree` responses), based on a 27.59% 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: Student Unit and Teaching Evaluation Survey
Feedback
Students suggested that assessment items were relevant and drawn from the unit material.
Recommendation
The teaching team continue to include relevant assessment items that support students in achieving the unit learning outcomes.
Action Taken
The teaching team included relevant assessment items to ensure students are able to achieve the unit learning outcomes.
Source: Student Unit and Teaching Evaluation Survey
Feedback
One student suggested the need to review the study guide and remove words which may point to a specific gender.
Recommendation
The teaching team will review the Study Guide and ensure that it is written in a language which is gender neutral.
Action Taken
The teaching team reviewed the Study Guide to ensure it is written in a language which is gender neutral.
Source: Student Unit and Teaching Evaluation survey
Feedback
Students suggested that the feedback on their assessments was thorough and received within days of submission.
Recommendation
The teaching team will continue to provide constructive and timely feedback to support student learning.
Action Taken
In Progress
Source: Student Unit and Teaching Evaluation survey
Feedback
Students believed that the lecturer was organised and the unit materials were posted in a timely manner allowing them adequate time to grasp concepts and meet assessment timeframes.
Recommendation
The teaching team will continue to make the learning materials available in a timely manner.
Action Taken
In Progress
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 10
1 - Written Assessment • • • • •
2 - Written Assessment • • • • •
3 - Written Assessment • • • • •