Development Economics
Construction industry is a complex and large sector in Malaysia which highly influence on the development of the country economy. Hence, it is importance for us to understand the basic principles of economics which can be applied to the construction industry. Development Economics is a module that introduces us the development, roles and contribution of construction industry to the national country. It also provides us a in-depth knowledge on understanding of the whole process of property development including the factor that affected the whole development process.
Besides that, this module also enhance our understanding towards the contribution of the feasibility study in the property development. We also learned to estimate the development budget by calculating the total development cost and gross development value during the initial development process. In order to help developer in decision making process during the feasibility study, we have learned to do cost- benefit analysis in the early stage of investment proposal. Furthermore, we also learned to classify various source of finance available in the construction industry.
In this module, we have given an assignment and mid term test in order to help us in more understanding and application of the principle of economics in different situations. Through these tasks, thinking and problem solving skill have been enhanced to find the effective solutions in different situations. We also have improved the communication skill and interpersonal skill by giving the presentation in class and through the teamwork in the assignment.
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