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Economic Evaluation of Design

Vemuri, Siva Ram (2007). Economic Evaluation of Design. Design Principles and Practices,1(3):79-86.

Document type: Journal Article
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IRMA ID 80801712xPUB6
Title Economic Evaluation of Design
Author Vemuri, Siva Ram
Journal Name Design Principles and Practices
Publication Date 2007
Volume Number 1
Issue Number 3
ISSN 1833-1874   (check CDU catalogue open catalogue search in new window)
Start Page 79
End Page 86
Total Pages 8
Place of Publication Melbourne, Victoria
Publisher Common Ground Publishing
Field of Research 1201 - Architecture
1402 - Applied Economics
HERDC Category C1 - Journal Article (DEST)
Abstract Decisions concerning design are increasingly being made on economic grounds. This paper explores links between Economics and design. It examines the implications for evaluating design using the micro-macro economics distinction that exists in economics. The paper suggests the need for adopting different methodological constructs for conducting micro and macro economic evaluation of design. Adopting different methodological constructs is proposed based on at least two grounds. First, the distinction between Micro and Macroeconomics focuses on different aspects of design. Second, the tools used for the conduct of evaluations are different. Cost flow analytical tools are necessary for conducting microeconomic evaluation of design. Use of impact analysis is needed for macroeconomic evaluation of design. Finally, the paper suggests that such differences in methodology have far reaching implications for future designs.
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