Transport Economics

Module aims

The course aims to give students a solid grasp of transport economics, finance theory and practice at the intermediate level.

Transport Economics Module (T4) examines the main concepts of transport economics and finance. The following topics will be covered during the course: Principles of Public Economics, Travel Demand, Pricing and Supply of Transport, Cost Functions and External Costs, Financial Resources for Transport, Economic Appraisal, Investment in Transport.

The module includes the fundamental topics of transport economics and finance as well as the new frontiers in the field.

Learning outcomes

 On successfully completing this course unit, students will be able to:

  • Appreciate the connection between the topics covered in theoretical lectures and specific applications provided by the industrial lecturers.
  • Examine the main concepts of transport economics and finance.
  • Challenge themselves through inspiring and critical types of learning, where real applications and experiences are combined with theoretical frameworks.
  • Acquire a basic knowledge of microeconomics.
  • Use multiple texts from a variety of media to develop their critical understanding and prepare for their careers.

Module syllabus

Each lecture is constituted by two integrated parts: 

(1)  A Theoretical part where students are given the foundation concepts of the topic of the lecture, and 

(2) An empirical (Practical) part which demonstrates the application of the lecture topic in the transport economics field. 

The Theoretical part will be delivered by Professor Medda and industry experts from the private and public sector will deliver the Practical part.

The lecture modules have been developed specifically in conjunction with the industrial experts to create the theoretical framework for each lecture module, which is then linked with the application part. The lecture modules have been designed so that students can follow the course from theory to practice. The Transport Economics module framework allows students to appreciate the connection between the topics covered in theoretical lectures and specific applications provided by the industrial lecturers immediately thereafter.

The two parts (Theoretical and Practical) of each lecture are integral to the lecture module. It is important to keep in mind that both parts are mandatory subjects in the exam.

Each lecture is a stand-alone module and, when taken altogether, they form the course syllabus. The module Transport Economics is a cumulative process of learning and therefore the structure of the module does not follow a progression in learning. This approach has been chosen because students should challenge themselves through inspiring and critical types of learning, where real applications and real experiences are compared and combined with their theoretical frameworks.

The finalised schedule of the lectures, with the succession of relevant topics to be covered, will be provided to students at the start of the module.  

Teaching methods

The module is delivered through an interactive technique, so students will need to attend and actively participate in class discussions. These discussions focus on solving real or hypothetical transport economic problems. Class participation in the discussion constitutes the first course assessment.

Assessments

Information will be provided separately.

Reading list

Supplementary

Module leaders

Dr Francesca Medda