"Recent decades have seen a major social and economic changes across the developed world and consequent changes in the construction and property industries. The discipline of construction economics needs to respond to this. For instance, the importance of sustainable development has become recognised, as has the need to increasingly master the medium and long-term consequences of construction, not only in the production but also in the management of buildings across their whole life-cycle. And the new focus on the service rendered by buildings, as distinct from the buildings themselves, has prompted a new approach to the construction and property industries. Any economic analysis of these sectors has to take account of all the participants involved in the life-cycle of building structures - not only in the design and construction, but also in the operation, maintenance, refurbishment and demolition of property. This innovative new book draws on the work of the Task Group of the CIB (International Council for Research and Innovation) on Macroeconomics for Construction. It pulls together discussions of mesoeconomic and macroeconomic models and methodologies in construction economics and presents an exciting approach to the analysis of the operation and function of the construction and property sector within the economy."--Publisher's description. Read more... The changing nature of the built environment: an economic perspective -- Quantifying the GDP-construction relationship -- Input-output techniques applied to construction -- The scope of the construction sector: determining its value -- Investment in construction and economic growth: a long-term perspective -- The impact of fiscal, monetary and regulatory policy on the construction industry -- From the short to the long-term: history and development of leading indicators and building cycles -- Construction markets in a changing world economy -- Global construction markets and contractors -- Strategies for a domestic construction industry -- The impact of reverse knowledge transfer on competitiveness: the case of Turkish contractors -- Market interdependencies between real estate, investment, development and construction -- Theories of investment in property: use of information, knowledge and intelligent technologies