The construction industry is booming alongside rapid economic growth and urbanization, yet the field of Construction Economics remains an under-the-radar choice for students. This unique discipline combines economic, financial, and construction engineering expertise to optimize costs and enhance the efficiency of construction projects.
Construction Economics equips students with financial management skills and teaches them how to create and control estimates, and analyze investment effectiveness in construction. Unlike Construction Engineering, which focuses on design and execution, Construction Economics centers on budget planning, cost management, tendering, and assessing the financial viability of projects. Students learn to act as coordinators between engineering teams and managers, ensuring all activities stay within the defined financial framework.
As a bridge between technical expertise and financial strategy, Construction Economics is gradually attracting more students.
With urbanization and infrastructure development accelerating, construction projects are sprouting up everywhere, from urban to rural areas. In this context, Construction Economics professionals are indispensable for cost control and ensuring investment effectiveness. They help investors avoid waste, optimize budgets, and ensure that projects meet both technical standards and economic efficiency—a critical aspect of today’s sustainable development trend.
Abundant Job Opportunities, Yet Few Students
The Construction Economics curriculum is designed around four core knowledge groups, ensuring students’ holistic development in both theory and practical skills.
Firstly, students learn how to create, analyze, and appraise construction investment projects. This includes determining the total investment, creating project estimates, evaluating financial effectiveness, and organizing post-project settlement. This foundational knowledge enables students to effectively plan and control finances for construction projects.
Secondly, the program emphasizes project economics, focusing on assessing the effectiveness of products, services, and technologies in the construction industry. Students are equipped with cost-benefit analysis skills and can compare construction methods to select the most economically viable option.
Students pursuing this field have abundant job prospects.
Thirdly, students acquire knowledge related to construction enterprise management, including personnel management, financial management, construction organization, and production management. The goal is to prepare students for managerial positions in construction companies, contractors, or infrastructure investment enterprises.
Fourthly, the curriculum also emphasizes training in construction investment project management. Students learn how to create comprehensive plans, coordinate related departments, monitor progress, control costs, and ensure project quality. These skills are vital for graduates assuming roles as team leaders, department heads, or project managers.
In addition to specialized knowledge, the program integrates soft skills and supplementary competencies to enhance students’ employability. Specifically, students refine their communication, teamwork, and presentation skills while also improving their foreign language proficiency and specialized software expertise. These skills are not only essential for daily work but also highly valued when applying for positions requiring a high level of competency.
Upon graduation, Construction Economics students can take on various roles at:
– Construction companies and contractors: working as estimation specialists, cost managers, construction planners, or project financial controllers.
– Design and construction supervision consulting firms: conducting estimate appraisals, tender consulting, or investment cost auditing.
– State and private project management units: acting as project coordinators, progress managers, or investment financial supervisors.
– Audit firms and investment banks: responsible for financial appraisal of construction and real estate projects.
– State construction management agencies: working in departments of construction, urban management, public investment management, contributing to the inspection and approval of construction and tendering activities.
Moreover, with a strong foundation in both technical and financial knowledge, graduates can venture into enterprise management, start their own businesses in construction or real estate, or pursue graduate studies in investment economics, construction management, and infrastructure development.
In 2024, the entrance score for this major ranged from 21 to 23.9 points.
Starting salaries for fresh graduates range from VND 10 million to VND 15 million per month, and can quickly increase to VND 20 million to VND 30 million per month for managerial positions, senior estimators, or experienced tender specialists. In large corporations, incomes can be even higher for financial advisors or senior project managers.
Despite the promising outlook, the number of students choosing this field is still not commensurate with the actual demand, creating a talent shortage. This presents a golden opportunity for those with clear career goals who want to excel in a highly applicable, well-paid, and promising field.
In Vietnam, Construction Economics programs are offered at Hanoi University of Construction, Hanoi University of Architecture, Vietnam Maritime University (Ho Chi Minh City Campus), and Danang University of Science and Technology. In 2024, the entrance score for this major ranged from 21 to 23.9 points.
