Transport Economics

Learning Outcomes

Subject Specific Practical Skills

Having successfully completed this module you will be able to:

• Continue to advance your knowledge and understanding and to develop new skills to a high level
• Use computer-based (and web-based) decision making tools to make critical economic decisions on transport investments and recurrent expenditure.
• Demonstrate self-direction and originality in tackling and solving economic problems, and act autonomously in planning and implementing policies to a professional level.
• Produce and interpret economic data on demand, costs, revenues and profitability and on wider socioeconomic costs and benefits.
• Deal with complex economic issues, both systematically and creatively, and make sound judgements in the absence of high quality data.

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• The use of established techniques of economic enquiry, including demand and cost modelling, welfare analysis and the estimation of elasticities.
• Economic theory as applied to transport, including demand, supply and pricing theory and practice.
• Economic appraisal and evaluation methods and their application to transport investments in developing and developed countries.
• The links between transport and the wider economy, including on the location and level of economic activity.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Manage your time
• Learn and study/research independently
• Collate and synthesise/prioritise information
• Use creativity and innovation in problem solving
• Develop and use spreadsheets for appraisal
• Report your work effectively
• Manipulate and analyse data

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Prepare and present a critique of the key economic issues in transport policy.
• Appraise/evaluate the economic impacts of transport schemes using cost benefit analysis and alternative methods
• Identify /recall the key issues in transport economics and economic appraisal.
• Utilise demand, supply and pricing theory and elasticities in economic analysis, using both graphical and numerical analysis.
• Assess issues relating to transport funding, road pricing and the pricing of public transport.

1. Introduction to transport economics

2. Mathematics for transport economists

3. Demand for transport: Theory and Practice

4. Supply of Transport: Theory and Practice

5. Pricing of Transport: Theory and Practice

6. Transport Appraisal and Evaluation: Theory

7. Cost benefit analysis and transport investment in developed countries

8. Cost benefit analysis and transport investment in developing countries

9. Road user charging and public transport pricing

10. Transport and the location of economic activity

11. Transport and the level of economic activity

12. Course conclusions and revision

Teaching methods include:

Lectures (11 double, 4 treble) and seminars (1 quadruple),

Class exercises.

Learning activities include:

Literature review/analysis, essays, calculations, use of spreadsheet software, directed reading.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Class Exercise

• Assessment Type: Formative
• Feedback: Hand-outs (also presented on Blackboard) and discussed in Class. One automated test on Blackboard.
• Final Assessment: No
• Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.