Undergraduate RMI-LGM260-2023

Transport Economics

Apply microeconomic principles to the transport services sector.

Develop the mathematics skills needed to run the costs and benefits of transport investments. Rely on industry software to forecast economic variables that will impact future demand.

From

$1,892 $2,142

Your upfront cost: $0

International student?

Duration

13 weeks

Study method

100% Online

Available loans

HECS-HELP
FEE-HELP

Assessments

100% online

Prior study

Required

Start dates

29 May 2023

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2023

Subject details

What you'll learn

On successful completion of this subject you will be able to:

Apply selected concepts, principles and procedures of transport economics for effective decision making.
Evaluate and apply appropriate analytic techniques and methods in forecasting demand for transport services, calculation of demand elasticity and transport planning.
Determine the profitability and viability of transport services and their operations in different market conditions with reference to the economic concept of cost and other cost constructs.
Determine the impact on firm performance and community welfare of different pricing strategies and governmental regulations in transport sectors.

Topics covered

- Please refer to RMIT University’s Learning Management System - Canvas, for further details.

Entry requirements

You are recommended to have completed the following subjects(s) or have equivalent knowledge before starting this subject:

USA-ECO11-Principles of Economics (No longer available)

Others

Or equivalent first-year university economics, statistics and calculus

Additional requirements

No additional requirements

Description

This subject is intended to provide you with an understanding of the basic microeconomic principles applicable to the transport sector.

It also seeks to develop an understanding of various analytical techniques of managerial economics that facilitate decision-making in the areas of production and costs, demand, pricing, investment and government regulation and intervention in the transport sector.

Assessments

Assessment Task 1 (Linked CLOs: 1, 2) (20%)
Assessment Task 2 (Linked CLOs: 3, 4) (30%)
Assessment Task 3 (Linked CLOs: 1, 2, 3, 4) (50%)

Textbooks

For textbook details check your university's handbook, website or learning management system (LMS).