Module code: ENGM263

Module provider

Civil and Environmental Engineering

Module Leader

IMAM B Dr (Civl Env Eng)

Number of Credits


ECTS Credits



FHEQ Level 7

JACs code


Module cap (Maximum number of students)


Module Availability

Semester 1

Overall student workload

Independent Study Hours: 120

Lecture Hours: 36

Assessment pattern

Assessment type Unit of assessment Weighting
Examination 2 HOUR EXAM 75

Alternative Assessment


Prerequisites / Co-requisites

Normal entry requirements for a degree course in Civil Engineering

Module overview

This module is aimed at familiarising students with the concept of the economics of infrastructure. It introduces the background behind investment and funding required for the financial planning of infrastructure and discusses the various forms of funding available for infrastructure (public, private and combined) are reviewed and their merits and limitations are discussed. Investment and financing models for different infrastructure sectors are described. Different types of risks associated with infrastructure investments are reviewed and their assessment and prioritisation within changing economic climates is studied

Module aims

review the sources of funding and the financing models available for infrastructure planning and development

explain the parameters that are directing prioritisation of infrastructure investments

demonstrate how to develop various options for infrastructural goals with a view to determine the optimum through the use of cash flow analysis.

review the potential risks associated with investments in infrastructure

Learning outcomes

Attributes Developed
1 Review the nature of the long-term funding mechanisms that can be considered to encourage investment in infrastructure KPT
2 Propose funding structures for different infrastructure sectors KCPT
3 Assess financial constraints in the context of economic, social and environmental pressures KCPT
4 Undertake financial and economic appraisals of infrastructure projects KCPT
5 Assess the risks associated with infrastructure investments and proposed mitigation actions KCPT
6 Technical report writing T
7 reviewing, assessing and critical thinking T
8 Independent learning skills T
9 Information retrieval skills T
10 Synthesis of data T

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Module content

Governments and Governance

‘Regulated v unregulated’ infrastructure sectors; Terminology and definitions

Infrastructure Finance

History of infrastructure project finance, interest rates, discount rates, equity, debt, sources of funds, cash flow models

Risk identification and analysis

Types of risks, identification, mitigation, risk valuation, cross-sector review

Funding structures

Cross-sectoral review, government/corporate guarantee, public vs. private finance, PPP, PFI, loans, development funds, bonds, leasing, contractual frameworks, loan agreements

Case studies

Transport, energy, waste and water, municipal, private

Methods of Teaching / Learning

The learning and teaching strategy is designed to:

This compulsory module provides the background required for the economic appraisal of infrastructure projects.

The module is principally delivered by 3-hour lectures/seminars by academic staff as well as invited external expert speakers on the topic.

The learning and teaching methods include:

Lectures/Seminars (30 hours)
Independent learning (including directed reading) (118 hours)


Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate:

Ability to propose different investment and financing models for infrastructure planning and delivery considering different sources of funding and differentiate between them  (LO’s 1, 2, 5) through a 2 hour unseen examination and coursework.
An appreciation of the economic, environmental and social constraints and risks towards prioritisation of infrastructure projects (LO’s 3, 5) through a 2 hour unseen examination and coursework.
Ability to propose cash flow models or review existing models for infrastructure projects (LO’s  4) through a 2 hour unseen examination and coursework.

Thus, the summative assessment for this module consists of:

·         Examination [Learning outcomes assessed 1, 2, 3, 4, 5 ] (2 hours) {75%}

·         Coursework on economic appraisal and risk assessment of an infrastructure project [Learning outcomes assessed 2, 3, 4, 5, a, b, c, d, e] (35 hours) {25%}

Formative assessment and feedback

Formative assessment will be through written feedback on the submitted coursework and discussion exercises on SurreyLearn.

Reading list


Programmes this module appears in

Programme Semester Classification Qualifying conditions
Civil Engineering MEng 1 Optional A weighted aggregate mark of 50% is required to pass the module
Structural Engineering MSc 1 Optional A weighted aggregate mark of 50% is required to pass the module
Bridge Engineering MSc 1 Optional A weighted aggregate mark of 50% is required to pass the module
Civil Engineering MSc 1 Optional A weighted aggregate mark of 50% is required to pass the module
Infrastructure Engineering and Management MSc 1 Compulsory A weighted aggregate mark of 50% is required to pass the module
Advanced Geotechnical Engineering MSc 1 Optional A weighted aggregate mark of 50% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2017/8 academic year.