Course syllabus
Samhällsbyggnadsekonomi
Economics of the Built Environment
VFTF35, 7,5 credits, G2 (First Cycle)
Valid for: 2021/22
Faculty: Faculty of Engineering, LTH
Decided by: PLED L
Date of Decision: 2021-03-12
General Information
Main field: Technology.
Compulsory for: L3
Language of instruction: The course will be given in Swedish
Aim
The course aims to give the student an understanding of, and
basic skills in analyzing, the economy at both micro and macro
level with special emphasis on the interplay between market,
politics, bureaucracy and law.
Learning outcomes
Knowledge and understanding
For a passing grade the student must
- understand the principles behind how a market works
- understand the background to market failures and their
effects
- understand the background to policy failures and their
effects
- understand the interplay between legal rules and economic
outcomes
- understand why certain macroeconomic measures are taken, such
as the Riksbank changing the interest rate
- understand the basics behind cost benefit analysis
- understand the content of an annual financial report
Competences and skills
For a passing grade the student must
- be able to analyze the effects on price and produced quantities
of various changes in a market
- be able to account for how economic instruments can be used to
correct for market failures
- be able to account for how policy failures arise and affect
society and how they can be prevented
- be able to analyze basic issues wihtin the field of law and
economics
- be able to assess the general effects of how various
macroeconomic changes affect the construction and real estate
market
- be able to account for the basics behind cost benefit
analysis
- be able to prepare and analyze annual financial accounts.
Judgement and approach
For a passing grade the student must
- understand the market economy solutions and the public
solutions to resource use issues in society and the limitations of
these solutions
- analyze and critically examine assumptions made in cost benefit
analysis
- be able to search for and evaluate literature for further
self-study
Contents
In the course, we study the driving forces behind and the result
of people's choices in society.
- Microeconomics: price formation in competitive markets and
markets with monopoly elements, different regulatory systems and
their effects, with in-depth study of the housing market and
sustainable community building. Fundamentals of public choice and
law & economics for understanding the interaction of economics
with politics, bureaucracy and law
- Macroeconomics with emphasis on cycles in the construction and
real estate market and how these are related to general economic
fluctuations and economic policy.
- Cost benefit analysis of infrastructure projects with emphasis
on the basics of how cost / benefit calculations are carried out,
which input values are important and what distinguishes
socio-economic calculations from business economics.
- Structure of the annual financial report with balance sheet and
income statement.
The teaching consists of lectures, exercises and seminars.
Examination details
Grading scale: TH - (U,3,4,5) - (Fail, Three, Four, Five)
Assessment: Written examination.
The examiner, in consultation with Disability Support Services, may deviate from the regular form of examination in order to provide a permanently disabled student with a form of examination equivalent to that of a student without a disability.
Admission
The number of participants is limited to: No
The course overlaps following course/s: VFTF01
Reading list
- Frank, Robert H: Microeconomics and Behavior. McGraw-Hill Higher Education, 2020, ISBN: 9781526847843.
- Complementary materials provided by the department.
Contact and other information
Course homepage: http://www.lantm.lth.se