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The future of construction economics as an academic discipline

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  • Danny Myers

Abstract

The contribution made by economic theory when studying construction-related subjects has a muddled history. This theme was carefully reviewed in Ofori (1994) where he bluntly concluded that: 'Construction economics cannot be regarded as a bona-fide subject' (p. 304). This short note takes a retrospective look at George Ofori's paper and suggests that during the subsequent period little has changed. This is despite the publication of government reports that stressed the importance of creating a culture of economic efficiency within construction and the need for the industry to become sustainable. This paper is informed by a brief survey of what is currently taught at British universities under the title of construction economics. Two points for debate emerge. The first is the worrying observation about the present state of play, as it seems that construction economics continues to lack any coherent conceptual structure. The second is the more promising suggestion that in the foreseeable future the sustainability agenda could provide the impetus necessary for construction economists to agree a common purpose and conceptual approach.

Suggested Citation

  • Danny Myers, 2003. "The future of construction economics as an academic discipline," Construction Management and Economics, Taylor & Francis Journals, vol. 21(2), pages 103-106.
    • Handle: RePEc:taf:conmgt:v:21:y:2003:i:2:p:103-106
    DOI: 10.1080/0144619032000056117
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    References listed on IDEAS

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    1. Patricia M. Hillebrandt, 2000. "Economic Theory and the Construction Industry," Palgrave Macmillan Books, Palgrave Macmillan, edition 0, number 978-0-230-37248-1, March.
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    Cited by:

    1. Kazemi, Maha Zadeh & Elamer, Ahmed A. & Theodosopoulos, Grigorios & Khatib, Saleh F.A., 2023. "Reinvigorating research on sustainability reporting in the construction industry: A systematic review and future research agenda," Journal of Business Research, Elsevier, vol. 167(C).
    2. Gerard De Valence, 2006. "Building as an economic process: the Austrian approach revisited," Construction Management and Economics, Taylor & Francis Journals, vol. 24(7), pages 767-771.

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