This book deals with the economics of construction at three levels: the industry, the firm and the project. It is intended for a broad range of undergraduate students of the built environment - architect, surveyor, engineer. It is divided into three parts: the first deals with the construction industry, its economic development, structure and role in the economy. Construction is seen as a production process. Part 2 covers the practical management of firms and examines costs, revenues and markets from the point of view of economists and managers. Part 3 deals with strategic decision making involved in property development and project appraisal and looks at feasibility studies. It links the economics of the production process of construction to the economics of its output, namely the buildings and structures of the built environment.