Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Construction Economics: Government Economic Policy - Term Paper Example

Comments (0) Cite this document
The aim of the paper "Construction Economics: Government Economic Policy" is to discuss the aspects of construction industry economics. Additionally, the writer provides recommendations on how to create a stable environment in the construction industry…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful

Extract of sample "Construction Economics: Government Economic Policy"

Download file to see previous pages The economic policy of a government is generally reflected in its national budget (Jenkins 1978). Partly, it is through the budget that the government exercises its three principal methods of establishing control: the stabilization function, the allocative function, and the distributive function. In some cases, economic policies are usually influenced by international institutions such as the World Bank or International Monetary Fund as well as policies of political parties and their beliefs.
The business environment within which most housing and construction companies operate has continued to change rapidly throughout the world. Construction companies that fail to adapt or respond to these changes have problems in their survival. Therefore, contractors must be capable of improving their performances continuously in order to outsmart their competitors. In nature, the construction company is complex because it consists of a large number of parties as contractors, stakeholders, clients, consultants, and regulators. However, despite its complexity, it plays a great role in the achievement and development of the goals of a society.
Economic growth refers to the rise of per capita gross domestic product (GDP) or other measures of total income. It is usually represented in annual basis as the rate of change in real GDP. The economic growth of a country depends on the ability of that country to improve its productivity, that is, its ability to produce more goods and services using similar inputs of labor, materials, energy, and capital. According to most economists, there are two types of economic growths: long-term economic growth and short-term economic stabilization. However, economic growth is usually concerned with the long-term type. The short-term type is rather deemed as the business cycle. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Construction Economics: Government Economic Policy Term Paper - 2, n.d.)
Construction Economics: Government Economic Policy Term Paper - 2. Retrieved from
(Construction Economics: Government Economic Policy Term Paper - 2)
Construction Economics: Government Economic Policy Term Paper - 2.
“Construction Economics: Government Economic Policy Term Paper - 2”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Construction Economics: Government Economic Policy

Government economic policy

...?Governments all over have targeted goals they want to achieve. These goals, which are referred to as objectives, are not a constant but can change from time to time in keeping with economic circumstances. These objectives are crucial to the welfare of the overall economy, and how they are managed will determine not only the economic prosperity of the nation but also welfare of its citizens. The activities carried out by a government to guide the economy towards achieving these objectives are broadly referred to as its economic policies. The policies of governments can be referred to as macroeconomic policy while the policies of smaller entities like business organizations are called micro economic policies. Both these sets of economic...
8 Pages(2000 words)Essay

Construction Economics

The industry provides services such as maintenance, repairs and rehabilitation of existing structures.
The industry comprises of three main sectors, which include building construction, heavy and civil engineering and specialty trade contractors. The building and construction sector includes contractors who build buildings for residential, industrial and commercial purposes. Heavy and civil contractors build roads, bridges, sewers and other major projects mostly relate to state infrastructure. Specialty deals with carpentry, painting and other works that relate to all types of construction.
The industry teds to enter recessions first and often the last to recover. Most economic factors, which lead to recession, affect th...
7 Pages(1750 words)Assignment

Construction Economics

These economic cycles form an important feature of a market driven economy. When the economy is booming the industrial sector achieves maximum growth and is said to be achieving its maximum potential. The total market value of all commodities and services that are provided within a country during a set financial period is defined as the country’s GDP or gross domestic product. (Best Aaron, 2007) Economic activities of the Government and the construction industry It is not always the policies followed by the government that affect economic activity. There might be several impediments happening in the international front affecting the construction industry. Recession is a key index that needs to be keeps a tab regarding the perform...
8 Pages(2000 words)Assignment

Construction Economics

...? CONSTRUCTION ECONOMICS No Lecturer) 0 Introduction This is a report on the feasibility of the commercial block development project in Basingstoke, Hampshire UK. The development is to take place on a piece of land measuring 60 Meters by 60 Meters. The target area has old buildings which must be demolished for clearing and leveling of the land in preparation of the new construction to begin. The approval for planning from the Basingstoke Town authorities for the development of the three storey commercial block has been granted and the development shall spare a parking space adjacent to the building. 2.0 Basis of the Report and Assumptions The report is based on the relevance of cost benefit analysis in determining the feasibility...
4 Pages(1000 words)Essay

Government Economic Policy

...Objectives of Government Economic Policy and the Instruments It Uses To Carry Them Out: Introduction: Economic policies are measures taken by the government to influence the behaviour of an economy, there exist two types of policies that government use to influence the economy and they include the fiscal policy and the monetary policies. Fiscal policies include taxation and government spending; the monetary policy will include money supply and other measures that influence the amount of money circulating in an economy. These two policies may sometimes prove to be harmful to an economy in that many scholars argue that an economy should be left at a state of laissez faire. This is to say that a government should not interfere...
12 Pages(3000 words)Essay

Construction Economics

Vegetables, for example is a homogeneous product while soap is not. Because the consumer will not care who supplies the product, there is tougher competition among suppliers.
There is freedom of entry and exit. Firms can easily enter the market without impediments brought about by old timers and should they decide that the market is no longer attractive, they can leave without problems. Suppliers of trout, for example, will experience this type of freedom.
Lastly, there is perfect information, i.e., no unknowns in the market. Price, supply and demand information is available to all players regardless of size and status. Stock trading of Gold for example, has the information readily available for all players to use in thei...
12 Pages(3000 words)Essay

Economics of Construction Industry

...Economics of construction industry Introduction How the wheels of a particular industry turn can best be understood by examining the economic forces that govern the industry. The best way to understand the workings of construction industry thus would be to follow the gradual development of economic thought and how it applied to construction industry. In the early years of nineteenth century, Adam Smith, the self styled champion of free markets and minimal governmental intervention, felt construction industry being a part of the overall economic scenario would automatically reach an equilibrium given the complete flexibility of price mechanism. Later on, Karl Marx introduced his ideas of exploitation of labor by capital and concluded...
8 Pages(2000 words)Case Study

Government Policy

... & Number: Law (Government and Politics) 30 December (estimated word count – 323) The most important lesson I learned in this course is that government policies can be changed, depending on the mood and opinion of the public. Politicians can sometimes resort to political expediency when it comes to certain social, political and economic issues. This is a good way for how democracy works out, because it shows that politicians are at least quite sensitive to the public pulse. However, there are some issues which can get very contentious like the issues of divorce, abortion, euthanasia (mercy killing), same-sex marriages and now a re-visiting of a highly-controversial “dont ask, dont tell” policy of the United States military. I learned...
1 Pages(250 words)Essay

Construction Economics

Strategy of Barratt is to acquire land for establishing houses such as standalone and more for greater sustainability in the market (Barratt Developments PLC, 2015).
In this context, the paper intends to plan for the next two years where the company needs to analyse the situation best suited. The paper will analyse whether Barratt should construct smaller houses or rely on the land bank for the future two years.
Success of business depends on various aspects such as the macro and micro scenario the company is operating in. With regard to the housing industry, it can be stated that the success and efficient decision making with regard to the performance of business depends on several aspects. Building of houses depends on t...
6 Pages(1500 words)Research Paper

Contemporary Issues in World of Politics Climate Change Policy

It is more than a particular problem of any specific community. In fact, climate change has a wider global nature compared to other environmental issues and it affects the people of every nation and boundary. Therefore, the issue of climate change has a far wider reach than the other environmental issues and it is an issue concerned with almost all the international communities. It is identifiable that national boundaries may attempt to prevent the movement of people and goods across the boundaries of the nation. However, when it comes to pertinent environmental issues such as climate change, these issues do not stop at borders, making them – some would argue – quintessentially global phenomena. “Climate change i...
6 Pages(1500 words)Case Study

Economic Models: The Free Market and The State Owned System

The free market concept is mainly a theoretical concept as every country, even capitalist ones place some restrictions on the ownership and exchange of commodities (Free market economy). Therefore, the term free-market economy primarily means a system where the buyers and sellers are solely responsible for the choices they make. It gives the buyers and sellers the power to do business without being afraid of any regulations and intervention by the state. Hence, a free market gives the absolute power to prices to determine the allocation and distribution of goods and services (Free Market Economy). The pricing mechanism is in turn, driven by the forces of demand and supply of goods and services. Demand and supply of...
9 Pages(2250 words)Case Study

Economic Analysis on BMW Cars in the US Car Industry

Mini and the 1-series rapidly grew at a much higher rate through 2008. Since the early days of the new millennium, BMW has been one of the first automakers to utilize flexible factories in which more than one vehicle model could be produced at the same time. This enabled the company to meet shifts in market demand more effectively than BMW’s competitors could. BMW challenges to retain its market position in the international market for luxury cars. Many automakers, such as Hyundai with its Genesis sedan or Nissan's Infiniti brand are increasingly successful in realizing higher margins earned on luxury vehicles. BMW is rated behind luxury brands such as Lexus, Porsche, Mercedes, and Infiniti for these reasons

1. Th...
7 Pages(1750 words)Case Study

UK Employment Policy

Analysts explain that this situation is not simply because citizens don’t want to exercise this fundamental right, but largely because of the continued failure of the governments to institute an effective implementation of employment policies put in place (Howell, 2005). It has clearly been demonstrated by Mathew (2006) that the United Kingdom government has shown a lot of unwillingness in tackling the reported unemployment crisis.

Available research findings reveal that there are high unemployment rates among UK born ethnic minorities which show great diversities. According to a 2001 report, it is shown that unemployment rates amongst UK born men and women from black, Bangladeshi and Pakistani ethnic groups were...
9 Pages(2250 words)Case Study

Money Policy versus Credit Market

Financial institutions generally engage in securitization to enhance their profits by trading in the collateralized backed securities that generate high yield returns to the financiers. This nevertheless inversely and negatively affected the credit markets as their efforts to enhance their liquidity positions backfired. Consequently, the import of these monetary strategies has generated cyclical effects on the monetary system to the detriment of the financial system.

Normally, money markets demonstrate a more efficient allocation of credit whenever additional liquidity is injected into the system, which would otherwise display some undesirable distortions. Ultimately, the liquidity market is not easily susceptible to ex...
6 Pages(1500 words)Case Study

Multiculturalism: Socio-economic Impacts on Modern States

This paper tends to argue that multicultural policies have promoted social segregation and economic insecurity in modern states. As the most relevant example, it will also evaluate how multicultural policies have evolved to be the most recent threat to the nationality and cohesion of Australia and the United Kingdom.

To begin with, many of the policies enacted on citizenship and immigration have brought about incessant controversy in Australia. In addition, the exceeding emphasis put on the multicultural policy has given rather unfavorable outcomes to both Australia and the UK. Policies that are intended to ensure equal representation and opportunities often create frustration and disappointment among certain interest g...
6 Pages(1500 words)Case Study

Construction Management & Economics: Lean Construction

Lean production as associated with management is a systemic approach to minimizing losses or waste and maximizing value creation so that the subsequent techniques are refined to achieve a degree of sophistication in preconceived management settings. The following four aspectual phases have been suggested in modern literature on the subject as more perceptive in terms of design, performance, delivery, and control.
The construction facility and its delivery have to be designed and planned in a manner that takes into consideration the customer’s purpose and needs. The rationale for positive iteration is emphasized so that negative iteration is minimized as far as possible.
Designing the structural parameters of the proj...
10 Pages(2500 words)Literature review

Introductory Economics and Finance: Why Governments Regulate Firms and Markets

By government regulation, it is meant by the rules administered by a government or government agency to influence any economic activity which determines the price, types, and standards of products, and most importantly the conditions under which the entry and exit of the firms are possible.

Like death, it is impossible to keep away from regulation in about every aspect of daily life. The business regulation may be classified into two- economic and social (Litan). The economic regulation deals with price controls and the entry limits of the firms into markets. The second type regulation mostly deals with externalities (the outside influences of the company or firm which may or may not be decided by them)

6 Pages(1500 words)Assignment

The 1846 Invasion into Mexico by the U. S.: The Political and Economic Forces that Brought about the Invasion

Some of the territories led to a war with Mexico from which the United States emerged victorious, expanding its territories and decisively establishing its dominance in North America.

President Andrew Jackson led an example of an administration that set the stage for the way in which James Polk would lead. In 1817, as a still yet military leader, Jackson led the United States into the first of three conflicts with the Seminole Indians from which the acquisition of Florida from Spain would be negotiated and finalized. The situation with Spain was tenuous and should have been dealt with in a diplomatic and cautious manner, but in 1817 President Monroe wrote a letter to General Jackson stating that “Great interests...
8 Pages(2000 words)Article

North Carolina Wake County Busing Policy

To ensure that the education sector is diversified it is seen that in the United States of America many such policies have been implemented. In 1970s diversity was considered an important tool by the educational experts so that they could help students understand each other. The board of education of North Carolina then formulated a scheme for students through which they could practice a diversity of races in schools. This was known as the North Carolina Wake County Busing Policy which was functional till the late twenty-first century. It was now in July 2010 that the issue was raised again by the educational board members who then decided to scrap the policy of diversity with community-based schools. (Liane Membis 2010; Stacy Tei...
7 Pages(1750 words)Case Study

Economic and Social Impact of Globalization

Global corporations are heightening their awareness of the nature of their business relationships with diverse governments considered of primary importance to manage factors influencing their performance. From among the elements that global organizations closely and continuously evaluate, the social and economic impacts are considered of significant importance. As the components and diverse perspectives of globalization affect both the host organizations and those nations they do business with, this research aims to proffer significant social and economic issues that impact global strategies.

The concept of globalization encompasses theories beyond the traditional view that global corporations merely do business abroad....
7 Pages(1750 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Construction Economics: Government Economic Policy for FREE!

Contact Us