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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

Due to COVID-19, teaching and assessment activities are being kept under review - see module enrolment pages for information

Delivery typeNumberLength hoursStudent hours
Lecture112.0022.00
Private study hours128.00
Total Contact hours22.00
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

Due to COVID-19, teaching and assessment activities are being kept under review - see module enrolment pages for information


Coursework
Assessment typeNotes% of formal assessment
Essay3,000 words33.30
Total percentage (Assessment Coursework)33.30

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated


Exams
Exam typeExam duration% of formal assessment
Online Time-Limited assessment2 hr 00 mins66.70
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 website

Last updated: 13/09/2021

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