Transportation economics
CIVIL-455 / 3 credits
Teacher(s): de Palma André Jean-Louis Julien, Geroliminis Nikolaos, Yang Zhenyu
Language: English
Summary
The scope of the lecture is to provide the basic concepts in transport economics and introduce new ones for private and public transport and environmental issues. Demand, supply, welfare analysis and regulation will be illustrated.
Content
-Foundation of microeconomics: consumer behaviour, firm behaviour, cost functions, equilibrium, optimum, perfect and imperfect competition.
-Transport in Europe and in the world, passenger and freight. Urban development.
- Static model in Transport. Small network (analytical): equilibrium, optimum, pricing. Cost in transport.
-Dynamic model in Transport. One route: equilibrium, optimum, pricing in the homogeneous case. Extension to take account of heterogeneity. Large scale models. Road pricing.
- Cost benefit analysis and self-financing. The 4 stage model revisited. Risk: theory, measure and applications.
- Externalities: environmental externalities, accidents. Local and global pollution. Instruments and regulation.
- Demand, Discrete Choice Models. Modeling demand from individuals, households and firms in the domains of transport and urban Economics. Estimation of demand using binary and multinomial models.
- LUTI Models. Modeling interactions between residential location, job and firm location, real estate prices, urban development, and transportation. Partial and general equilibrium.
Keywords
transport economics, equilibrium, rational behaviour, competition, pricing, externalities
Learning Prerequisites
Required courses
Traffic Engineering (GC-349) or Consent of the Instructor
Important concepts to start the course
Calculus and Algebra
Learning Outcomes
By the end of the course, the student must be able to:
- Design multimodal systems
- Analyze equilibrium models
- Assess / Evaluate consumer behaviour
- Demonstrate knowledge in transport economics
- Develop discrete choice models
- Illustrate environmental externalities
- Investigate cost benefit analysis
Transversal skills
- Plan and carry out activities in a way which makes optimal use of available time and other resources.
- Evaluate one's own performance in the team, receive and respond appropriately to feedback.
- Access and evaluate appropriate sources of information.
- Demonstrate a capacity for creativity.
Teaching methods
Ex-cathedra with assisted exercises, course group projects
Expected student activities
Attending lectures, doing exercises and lab projects, preparing for exams
Assessment methods
30% Midterm
40% Final exam
30% Laboratory/group projects
Supervision
| Office hours | Yes |
| Assistants | Yes |
| Forum | Yes |
Resources
Virtual desktop infrastructure (VDI)
No
Bibliography
Material is provided in moodle that consists of scientific papers and class notes.
Moodle Link
Prerequisite for
Future studies in transportation and economics
In the programs
- Semester: Spring
- Exam form: During the semester (summer session)
- Subject examined: Transportation economics
- Courses: 2 Hour(s) per week x 14 weeks
- Exercises: 1 Hour(s) per week x 14 weeks
- Type: optional
- Semester: Spring
- Exam form: During the semester (summer session)
- Subject examined: Transportation economics
- Courses: 2 Hour(s) per week x 14 weeks
- Exercises: 1 Hour(s) per week x 14 weeks
- Type: optional
- Semester: Spring
- Exam form: During the semester (summer session)
- Subject examined: Transportation economics
- Courses: 2 Hour(s) per week x 14 weeks
- Exercises: 1 Hour(s) per week x 14 weeks
- Type: optional
- Semester: Spring
- Exam form: During the semester (summer session)
- Subject examined: Transportation economics
- Courses: 2 Hour(s) per week x 14 weeks
- Exercises: 1 Hour(s) per week x 14 weeks
- Type: optional
- Semester: Spring
- Exam form: During the semester (summer session)
- Subject examined: Transportation economics
- Courses: 2 Hour(s) per week x 14 weeks
- Exercises: 1 Hour(s) per week x 14 weeks
- Type: optional