Economics & Property

Citation

Warren, C.M.J. (2012), "Economics & Property", Property Management, Vol. 30 No. 4. https://doi.org/10.1108/pm.2012.11330daa.003

Economics & Property

Economics & Property

Article Type: Book Review From: Property Management, Volume 30, Issue 4.

Danny MyersEstates Gazette BooksOxford2011199pp.ISBN: 978-0-08-096994-7£;29.54

This is the third revision of this popular teaching text. The author Danny Myers is an experienced academic from the Faculty of Environment and Technology at the University of the West of England where he teaches economics within the construction and property courses. The stated objective of the book is to provide an introduction to economics that will fulfil the requirements of property and construction undergraduate and graduate courses in the UK and to meet the knowledge requirements in basic economic theory required by the RICS. In order to meet these aims this edition has been extensively revised to reflect contemporary issues in property economics.

While it is a UK centred text, it is equally applicable to an international readership as the broad economic principles discussed are not constrained by the regional aspects of the text. The book format is designed to aid student learning with each chapter commencing with a list of aims and objectives to be achieved within the chapter. Learning is aided by the adoption of a system of providing definitions to key economic terms within the margin and in providing frequent summaries of the key learnings to be taken from each section.

The chapters provide a logical flow through from the wider economic theories around resource allocation and supply and demand factors to a more focused assessment of the development and construction industries in the UK. The book concludes with a useful chapter which addresses the issues relating to sustainable development and the role of government and the markets in the growing recognition of sustainable development demands and corporate social responsibility. While not an in-depth analysis of this issue, the book does provide a very useful overview of sustainable building.

This book is well written and is supported by excellent graphics to provide students undertaking property and construction courses with an easy to follow introduction to economics and the property industry. I would recommend its consideration as a text for any property or construction course.

Clive M.J. WarrenUniversity of Queensland, Business School, Brisbane, Australia