Module overview
This module provides a critical awareness of how economics can be used to overcome current problems in the transport sector, such as congestion, inadequate service (in terms of both quantity and quality) and high prices. It will give you a systematic and comprehensive understanding of the key concepts in transport economics and the graphical and numerical analytical techniques used by transport economists.
Aims and Objectives
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.
- 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.
- Demonstrate self-direction and originality in tackling and solving economic problems, and act autonomously in planning and implementing policies to a professional level.
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- Economic theory as applied to transport, including demand, supply and pricing theory and practice.
- The use of established techniques of economic enquiry, including demand and cost modelling, welfare analysis and the estimation of elasticities.
- The links between transport and the wider economy, including on the location and level of economic activity.
- Economic appraisal and evaluation methods and their application to transport investments in developing and developed countries.
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- Manage your time
- Develop and use spreadsheets for appraisal
- Manipulate and analyse data
- Use creativity and innovation in problem solving
- Report your work effectively
- Learn and study/research independently
- Collate and synthesise/prioritise information
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Appraise/evaluate the economic impacts of transport schemes using cost benefit analysis and alternative methods
- Prepare and present a critique of the key economic issues in transport policy.
- Utilise demand, supply and pricing theory and elasticities in economic analysis, using both graphical and numerical analysis.
- Identify /recall the key issues in transport economics and economic appraisal.
- Assess issues relating to transport funding, road pricing and the pricing of public transport.
Syllabus
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
Learning and Teaching
Teaching and learning methods
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.
Type | Hours |
---|---|
Follow-up work | 9 |
Revision | 18 |
Preparation for scheduled sessions | 3 |
Seminar | 4 |
Lecture | 30 |
Wider reading or practice | 14 |
Completion of assessment task | 72 |
Total study time | 150 |
Resources & Reading list
General Resources
Web-based transport project appraisal.
Assessment
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.
Method | Percentage contribution |
---|---|
Final Assessment | 50% |
Continuous Assessment | 50% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
Method | Percentage contribution |
---|---|
Set Task | 100% |
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.
Method | Percentage contribution |
---|---|
Set Task | 100% |
Repeat Information
Repeat type: Internal & External