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macro and micro economics in construction

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MAEN QADDOURAH Project Director| AJ SAUDI Jeddah, Saudi Arabia

ANY idea about application of macro and micro economics in Construction Management?

Posted: Jan 9, 2016 11:28 PM

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Suhail Iqbal Suhail Iqbal PMIATP CIPM FAAPM MPM MQM CLC CPRM SCT AEC SDC SMC SPOC PRINCE2 MCT| PM Training School Rawalpindi, Punjab, Pakistan

The macroeconomics is responsible to estimate the productivity of construction industry in many countries such as UK, Germany and France by including statistical data about the numbers of employers and the actual labor for each one in the different countries where the productivity is affected by the power of the money from country to another.

Read more: http://www.ukessays.com/essays/economics/m...p#ixzz3wpBUkNmM

Posted: Jan 10, 2016 2:34 AM

Suhail Iqbal Suhail Iqbal PMIATP CIPM FAAPM MPM MQM CLC CPRM SCT AEC SDC SMC SPOC PRINCE2 MCT| PM Training School Rawalpindi, Punjab, Pakistan

Microeconomics is a branch of economy science which studies and analyzes the behavior of the market for individual consumer (or construction project) and firms in order to obtain a good understanding for the decision making, also the microeconomics relates to the relationship and interaction between the producer and customer to study the factors which effect the interaction between them, in addition to determining prices and output in the market. (Dilts. D, 2004)

Read more: http://www.ukessays.com/essays/economics/m...p#ixzz3wpC8Yxcp

Posted: Jan 10, 2016 2:36 AM

Rami Kaibni

Community Champion

Senior Projects Manager | Field & Marten Associates New Westminster, British Columbia, Canada

Microeconomics is generally the study of individuals and business decisions while macroeconomics looks at higher up country and government decisions.

I would highly recommended that you go through the below article and I believe it will give you a better understanding how to apply both Micro / Macro Economics in Construction:

http://www.constructionbusinessowner.com/t...a-economics-101

Posted: Jan 10, 2016 3:12 PM (Updated by author: Jan 10, 2016 3:15 PM)

MAEN QADDOURAH Project Director| AJ SAUDI Jeddah, Saudi Arabia

Thanks Rami and Suhail. It is helpful

...

1 reply by Rami Kaibni

Jan 10, 2016 10:53 PM

Rami Kaibni

...

My pleasure anytime Maen - Always glad to be of assistance.

Posted: Jan 10, 2016 9:31 PM

Rami Kaibni

Community Champion

Senior Projects Manager | Field & Marten Associates New Westminster, British Columbia, Canada

Jan 10, 2016 9:31 PM

Replying to MAEN QADDOURAH

...

Thanks Rami and Suhail. It is helpful

My pleasure anytime Maen - Always glad to be of assistance.

Posted: Jan 10, 2016 10:53 PM (Updated by author: Jan 10, 2016 10:53 PM)

Ginen Dharamshi Founder & CEO| GGD Consultants Thane, Maharastra, India

Macro Economics Contribute towards the strategic part of Construction management where as Micro economics touches the local External factors, Execution process.

Both of them can be seen as risk categories also..

Posted: Mar 9, 2016 6:46 AM

Stéphane Parent Self Employed / Semi-retired| Leader Maker Prince Edward Island, Canada

I totally agree Ginen.

Posted: Jan 10, 2017 10:53 AM

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macro and micro economics in construction

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