Economics

Order Description Scenario The Great Recession was a period of economic decline observed across global markets during the late 2000s and 2010s. The scale and timing of this recession varied quite considerably from country to country. In terms of the overall impact, the International Monetary Fund (IMF) concluded that this was the worst global recession since World War II. This Great Recession has resulted in the scarcity of valuable assets in the market economy and the collapse of the financial sector in the world economy. N.B. the word ‘recession’ is often interpreted in two main ways: ? more broadly to a period of sustained reduced economic activity; ? in an academic context which refers to the contraction stage of the business cycle where there are two or more successive quarters of contraction in GDP. The construction and real estate sectors have also been affected to widely differing extents across the globe. Without doubt, however, both sectors need to respond positively to the complex challenges faced in today’s ever more dynamic, competitive global economy. Liquidity and financing risks, sourcing and deployment of capital, corporate governance, risk management, regulatory reform, infrastructure development and organisational issues are some of the key issues at the top of the leadership’s agenda. Historically, the construction and real estate sectors have not been known for innovation; times are changing. The emergence of ‘green’ building and new sustainability standards, along with digital technology and connectivity have created a momentum for innovation in every aspect, from building materials to modelling and engineering techniques. More and more organisations within these sectors are investing more finance into research and development (R&D) to develop and/or improve energy efficiency, systems, process design, construction techniques and effective use of technology. Task Demonstrating a clear awareness, understanding and application of recent and current market factors in a country/region of which you are familiar (UK) write a report which includes the following two sections: a. Using an organisation of your choice, identify a project from the construction or real estate sectors,consider how each of the four factors of production will affect the construction project. (75% indicative weighting) b. Produce a ‘Summary Report’ to explain how the markets for the Construction and Real Estate Industries are affected by the current conditions in the Public, Private and Tertiary Sectors of the economy.