2021/22 Taught Postgraduate Module Catalogue
TRAN5050M Principles of Transport Economics
15 creditsClass Size: 50
Module manager: Alexander Stead
Email: A.D.Stead@leeds.ac.uk
Taught: Semester 1 (Sep to Jan) View Timetable
Year running 2021/22
This module is not approved as an Elective
Module summary
Is the price right? How do we determine what the “right” price is in transport and how do we assess how close we are?Objectives
To ensure that students can determine appropriate approaches to the measurement of costs, determination of prices and allocation of resources in the transport sector, given the special problems in terms of peaking, increasing returns to scale and joint costs of that sector.Learning outcomes
1. Define and characterise optimal equilibria in transport
2. Assess the efficiency of outcomes relative to theoretical optimum
3. Understand and use concepts of price in time as well as money
4. Develop proficiency in calculating and applying elasticities
5. Describe and critique analytical methods used in understanding demand and costs in transport economics
6. Be able to apply the principles to real world applications
Syllabus
Determination of transport prices, costs, resource allocation and subsidy.
Topics likely to be covered as follows:
- Marginal Cost Pricing Rule
- Indivisibilities, Joint and Common Costs, Peak Loads
- Non uniform pricing
- Uniform (Ramsey) pricing, Cost and Production Theory
- Statistical Cost Analysis, Economies of Scale, Density and Scope
- Cost and Productivity Efficiency Measurement
- User Costs: Waiting Time, Boarding and Alighting Time, Capacity Constraints
- User Costs: Route Structure, Vehicle Size
- External Costs
- Congestion, Accidents and Environmental Effects
- Road Pricing
- Subsidy, Cross Subsidy
- Determining Optimal Levels of Subsidy and Investment
Teaching methods
Delivery type | Number | Length hours | Student hours |
Lecture | 11 | 2.00 | 22.00 |
Private study hours | 128.00 | ||
Total Contact hours | 22.00 | ||
Total hours (100hr per 10 credits) | 150.00 |
Opportunities for Formative Feedback
- Progress monitoring is by means of problem sets and in-class discussions.- Students may also choose to submit a formative non-credit bearing essay to get feedback.
Methods of assessment
Coursework
Assessment type | Notes | % of formal assessment |
Essay | 3,000 words | 33.30 |
Total percentage (Assessment Coursework) | 33.30 |
Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated
Exams
Exam type | Exam duration | % of formal assessment |
Online Time-Limited assessment | 2 hr 00 mins | 66.70 |
Total percentage (Assessment Exams) | 66.70 |
Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated
Reading list
The reading list is available from the Library websiteLast updated: 13/09/2021
Browse Other Catalogues
- Undergraduate module catalogue
- Taught Postgraduate module catalogue
- Undergraduate programme catalogue
- Taught Postgraduate programme catalogue
Errors, omissions, failed links etc should be notified to the Catalogue Team.PROD