Emerge by AIAU: Economics in Architecture
Included in subscription
Description
The Economics in Architecture series introduces real-world economics that pertain to the architecture and construction industries. The videos explore business cycles and trends, the Architecture Billings Index, and the architectural workforce. Follow along as the American Institute of Architects’ chief economist, Kermit Baker, illustrates how economic concepts relate to firm practice in the architecture industry.
Course expires: 11/01/2024
Learning Objectives
Analyze what factors in the business cycle influence changes to the construction industry, and what those changes mean for architecture firms. Review approaches to evaluating the existing building stock and available land resources to determine a project’s viability and necessity.
Describe ways in which interpretation of demographic trends can help architecture firms be better prepared to deliver projects that are responsive to the needs of the local and regional populations.
Examine the Architecture Billings Index (ABI) to make determinations about future billings, future project acquisitions (design contracts), and staffing changes. A strong evaluation of the ABI will help participants prepare for changes in the construction industry, as a result of economic cycles.
Evaluate ways in which the architectural workforce influences practice and project management within architecture firms. Examine current trends in the architectural workforce and estimate the impact of a deficient workforce on the profession’s ability to keep up with the need to create quality built environments.
Kermit Baker, PhD, Hon. AIA is a Senior Research Fellow at Harvard University's Joint Center for Housing Studies, and is the Project Director of the Remodeling Futures Program. This research effort, which began in 1995, is the first comprehensive analysis of U.S. remodeling activity ever undertaken by the Joint Center. Its goal is to develop an improved understanding of the dynamics of the U.S. repair and renovation industry so that businesses can better take advantage of the opportunities that this market offers. Baker is also the Chief Economist for the American Institute of Architects in Washington, D.C. In this capacity he analyzes business and construction trends for the U.S. economy, and examines their impact on AIA members and the architectural profession.
Prior to joining the Joint Center, Baker was vice-president and director of the economics department at Reed Business Information where he was responsible for industry forecasting. During his ten years at Reed he developed the Top U.S. Construction Market Report, and served as editor of the Reed Business Information's Construction Market Forecast newsletter.
Baker received his master's degree in urban planning from Harvard University, and holds a Ph.D. from Massachusetts Institute of Technology in the same field.