Construction Economics And Management Msc
Rachelle Kun
This programme equips graduates with the competencies to become policy advisors, consultants, senior managers and decision-makers in any branch of the construction and infrastructure industry. It can also provide researchers and teachers in these subject areas with professional academic development.
Whilst UCL will endeavour to issue decisions as soon as possible, it is expected that some applications will be considered in Spring 2024 as part of a gathered field, with formal decisions released in May 2023.
UCL's minimum qualifications are a lower second-class Bachelor's degree from a UK university or an overseas qualification of an equivalent standard. However, there is a heavy demand for places on this programme and in practice a significantly higher standard will be required unless the applicant can offer professional qualifications or five years of more of relevant practical experience.
UCL Pre-Master's and Pre-sessional English courses are for international students who are aiming to study for a postgraduate degree at UCL. The courses will develop your academic English and academic skills required to succeed at postgraduate level.
International applicants can find out the equivalent qualification for their country by selecting from the list below. Please note that the equivalency will correspond to the broad UK degree classification stated on this page (e.g. upper second-class). Where a specific overall percentage is required in the UK qualification, the international equivalency will be higher than that stated below. Please contact Graduate Admissions should you require further advice.
The programme is accredited by the Royal Institution of Chartered Surveyors (RICS) and aims to develop students' knowledge and skills under two mutually supporting themes, for which The Bartlett School of Sustainable Construction has an international reputation:
This programme is particularly appropriate for applicants who already possess knowledge and experience of project management and are seeking to move from a project-based to a business-based role within construction, or wish to specialise in areas of practical application of economics and finance.
The Bartlett brings together the multidisciplinary specialisms required to research, understand, design, construct and operate the built environment of the future. The QS World University Rankings (2023) places The Bartlett as #1 for Architecture and Built Environment studies in the world, and #1 in the UK for the ninth year in a row. The Bartlett's research received the UK's most world-leading ratings for Built Environment research in the most recent Research Excellence Framework.
Located in central London, UCL is at the heart of a large cluster of architectural, engineering, surveying, real estate and management consultancies, major construction/infrastructure clients, contractors and financial institutions. The UK's centre of government and all the resources of a world city are also to hand.
The programme develops an understanding of financial and other kinds of management within the context of the project-based firm and the construction industry in its widest sense. There are some elements which can be put to use straight away while other elements of a strategic nature will prove useful as graduates move into more senior management roles. It is an attractive graduate qualification either for those trained in a technical discipline without previous economic training or those trained in economics or finance without previous exposure to construction.
The career options for graduates are varied, and many students go on to work for construction, engineering and design enterprises, professional consultants and commercial research organisations, and client enterprises with significant project portfolios such as retailers or banks. Graduates have been recruited by many of the UK's very best construction-sector firms. The MSc can be used as a foundation for MPhil/PhD research.
The Construction Economics and Management MSc programme and the School actively supports students and alumni in establishing their professional network, recognising the importance of networks in providing graduates with opportunities and support throughout their careers.
In terms 1 and 2 full-time students can typically expect between 8 and 15 contact hours per teaching week through lectures, workshops and tutorials. In term 3 students will be completing their own dissertation research, keeping regular contact with their dissertation supervisors.
The compulsory modules provide the basic knowledge and theoretical underpinning of the Economics and Management of Construction. The option modules build upon this knowledge and allow exploration of more specialist areas.
In the case of modular/flexible students, this is the fastest route to completion but a slower route may be taken. The sequence is designed to ensure that the economics is understood first in year one through the compulsory modules and the economics-based options build on that knowledge.
The tuition fees shown are for the year indicated above. Fees for subsequent years may increase or otherwise vary. Where the programme is offered on a flexible/modular basis, fees are charged pro-rata to the appropriate full-time Master's fee taken in an academic session. Further information on fee status, fee increases and the fee schedule can be viewed on the UCL Students website: ucl.ac.uk/students/fees.
In our faculty, The Bartlett Promise Scholarship aims to enable students from backgrounds underrepresented in the built environment to pursue master's studies. Please see the UK Master's scholarship and Sub-Saharan Africa Master's scholarship pages for more information on eligibility criteria, selection process and FAQs.
Please upload a personal statement. Your statement should be clearly written, and be no more than 500 words. Please use the statement to tell us: Why have you chosen Construction Economics and Management programme and why The Bartlett School of Sustainable Construction? What specific areas of construction economics and construction management have you got an interest in and why? What are the values and experiences that you could bring to the programme? How will you use your studies in your professional and personal life? If there is a particular area you plan to research (for your MSc dissertation) please include this in your statement.
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While working as a civil engineer, I was unaware of the value of construction economics; but, when pursuing a Master's degree in construction management, I realised its usefulness and became aware of its significance. According to my understanding Construction Economics is the study of how resources available to the construction industry may be correctly allocated and best employed. It also includes;
Different nations' approaches differ in terms of the technology employed and the specialists engaged. The basic goal of construction project economics worldwide, however, is to guarantee that the monies invested in the project are spent wisely. It can assist to avoid situations like the one that occurred at the Harrogate Conference Centre in the United Kingdom. The original estimate for the conference centre in the mid-1970s was a little under 8 million pounds. In 1988, a final cost of 34 million pounds was agreed upon. Also, the centre's jogging is not covered.
Construction economics is a crucial aspect of the construction industry that involves the analysis and management of the financial aspects of construction projects. It encompasses a wide range of economic factors, such as project costing, budgeting, financing, risk assessment, and cost control. Understanding construction economics is vital for project stakeholders, including developers, contractors, investors, and government agencies, as it enables them to make informed decisions and ensure the financial success of construction projects.
Cost-benefit analysis is a fundamental tool in construction economics used to evaluate the economic feasibility of a project. It involves comparing the costs of the project to its expected benefits and returns. A positive cost-benefit analysis indicates that the project's benefits outweigh its costs, making it financially viable. Conversely, a negative analysis suggests that the project may not be financially feasible.
In recent years, there has been a growing emphasis on sustainable construction economics. Sustainable construction aims to minimize the environmental impact of projects while maintaining economic viability. Key aspects of sustainable construction economics include:
Construction economics is a vital discipline that underpins the financial success of construction projects. By addressing cost estimation, budgeting, financing, risk assessment, and cost control, construction economics enables project stakeholders to make informed decisions and manage financial resources effectively. As the construction industry evolves, sustainability considerations are becoming increasingly important in construction economics, emphasizing the need for environmentally and financially responsible construction practices.
Are you interested in the built environment and the complex process of constructing homes, roads and skyscrapers? Have you ever thought about the various aspects involved in the creation of these structures, including managing people and technology effectively and safely?
The Department of Construction Management is housed in the College of Engineering and Technology and has state-of-the-art classroom and laboratory facilities. The Caterpillar High-Bay Laboratory is equipped with an overhead gantry crane with which students have the opportunity to assemble steel structures and structural framing units.
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