W055 – Construction Industry Economics

Coordinator(s)

• Niraj Thurairajah, Northumbria University
• Les Ruddock, University of Huddersfield
• James O. B. Rotimi, Massey University
• Xiaohua Jin (Sean), Western Sydney University

Objectives and Scopes:

The Commission’s objectives are:

• to be the leading international research focus for the economics of the construction industry
• to stimulate the development of a theoretical base for the discipline of construction economics
• to support and develop the perception of the important role of the construction industry in the economy.

The Commission will study, evaluate, disseminate, exchange and discuss issues based on these objectives.

The main areas of attention for the Commission’s research include:

• Mainstream Economic Integration: Apply established economic theories and collaborate with mainstream economists to improve research quality in construction economics.
  • Behavioural Insights: Consolidate fragmented research on behavioural economics to better understand decision-making in construction.
  • Environmental Integration: Focus on economics of climate resilience, decarbonisation, and circular economy to address climate challenges in construction.
  • Equality and Inclusion: Develop strategies ensuring economic gains in construction are inclusive and support just transitions.
  • Community and Localism: Investigate how construction impacts local economies, promotes social value, and enhances community well-being.
  • Technology and AI: Leverage big data and AI to generate innovative economic insights and solve complex construction problems.
• Multidisciplinary Approach: Embrace cross-disciplinary collaboration aligned with global agendas like the UN SDGs to develop impactful research and centres of excellence.
• Theory Development: Prioritise theoretical framing and development to strengthen construction economics as a distinct academic discipline.

Current Work Programme:

The Commission’s Work Programme includes the following initiatives:

• Publication of a Research Roadmap on Construction Industry Economics
• Special issue on ‘Sustainable Practices in Construction Economics and Management: Innovations and Challenges’
• Knowledge Exchange forum on ‘Sustainable Construction Futures’

Planned Output:

• Report on the state of Construction Industry Economics research
• Commission encouraged book on ‘Economics of Digital Construction’

External Relations:

W055 has a Liaison with the CIB Encouraged Journal “Construction Management & Economics”

Membership:

Members of this Working Commission have to be either a Representative of a CIB Member Organisation or an Individual CIB Member.