Unit Code: DTT510

Unit Name: Transport Economics

Description: To consider Economic Principles about Transport and to apply economic analysis to major contemporary problems in modes of transport, including comparative studies of transport in other countries.

Learning Target Outcomes: On successful completion of this course, students will be able to: 1. Understand the fundamental principles of micro–economics with the concept of elasticity of demand and of supply 2. Understand the notion of opportunity cost and the economist’s distinction between fixed and various costs; and with the influence of the degree of competition and quantity 3. Apply the principles in analytical approaches to pricing, investment, planning and other public-policy decision affecting the transport sector. 4. Evaluate, from an economic perspective, the role of transport in the economy 5. Explain the economic theory of supply and demand as it applies to the transport industry 1.2.6 Assess the effects of competition on the transport industry.

Prerequisite: Minimum Entry Requirements of the programme

Prerequisite Sentence: N/A

Credit Point: 12

Offered In: Semester 1