BUIDLING ECONOMICS YEAR 4
ASSIGNMENT 1
1.0 TASK
To demonstrate an understanding of micro and macroeconomics and their impact on the Irish
Construction Industry
2.0 BRIEF
“This year’s review unlocked a message of positivity and optimism within the construction
industry in Ireland. That being said, areas of concern were highlighted such as the sustainability
of our Foreign Direct Investment (FDI) plan, how prepared companies felt to deal with looming
talent shortage and our infrastructural resilience in the wake of increasing climate changes”.
“Success is not just attracting new FDI, it is also retaining it and continuing to adapt our
infrastructure to ensure we meet future needs. Ireland has been tremendously effective in
attracting FDI and many of these multinationals have committed to increasing their presence.
However, whether it is technology firms in Dublin, pharmaceuticals in Cork or MedTech in
Galway, companies tend to cluster in specific well-developed regions. Without strategic
investment, these cities will become increasingly congested, uncompetitive and saturated in
terms of resources. That is why greater foresight into our future infrastructure and housing
requirements across cities and regional urban centres is crucial to ensure our continued economic
growth and maintain our strong FDI pipeline.”
Looking at the current challenges, 40% of industry admitted that their inability to attract and
keep talent is their biggest business concern. With a significant percentage of the skilled
workforce still choosing to work abroad, the pressure is mounting to attract workers to the
industry. For them to choose Ireland as their long-term base, greater certainty is needed in terms
of wages, costs of living and the viability of the market. Fears are mounting amongst industry
that, unless access to talent improves, there will not be enough employees to meet the demands,
in particular the governments housing requirements.
(Construction Network Ireland 2019)
Students are required to examine the above statement and investigate the macro and micro
economics of the Irish construction industry. You are required to compile a 2000 word (Excluding
appendices and additional information) report on the Irish construction industry addressing, but not
limited to, the below headings.
Micro and Macro Economics
a) Supply and Demand
b) Market Equilibrium
c) GDP
d) Inflation and deflation
e) Fiscal policy
f) Labour markets
g) Professional markets
h) Indices
3.0 SUBMISSIONS
Students will be required to use Harvard style referencing system and submit via turnitin.
Students are required to present the report in a professional manner, size 12 font, times new roman
(or similar), 1.5 line spacing. Page numbers, contents page, headings and sub-headings must be
included within the report. Standard college submission sheets must be included at the front of the
report.
Please see Fiona Dawson guidelines for late submission penalties.
To demonstrate an understanding of micro and macroeconomics and their impact on the Irish
Construction Industry
Micro Macro 21.22
APA
CLICK HERE FOR FURTHER ASSISTANCE ON THIS ASSIGNMENT
The post To demonstrate an understanding of micro and macroeconomics and their impact on the Irish Construction Industry appeared first on Apax Researchers.
