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.
Your upfront cost: $0
Subjects may require attendance
- 31 May 2021
QS RANKING 2021
Times Higher Education Ranking 2021
On successful completion of this subject you will be able to:
- Refer to 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.
- Please refer to RMIT University’s Learning Management System - Canvas, for further details.
You are recommended to have completed the following subjects(s) or have equivalent knowledge before starting this subject:
Or equivalent first-year university economics, statistics and calculus
No special requirements
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.
- 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%)
Check the learning management system (LMS) of your university for textbook details.