Undergraduate RMI-LGM260-2021

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.

Duration

13 weeks

Study method

100% Online

Available loans

HECS-HELP
FEE-HELP

Assessments

Subjects may require attendance

Prior study

Required

Start dates

28 Feb 2022
29 Aug 2022

Australia's largest dual-sector institute, offering both TAFE and higher education, RMIT University proudly delivers work-related education and practical research relevant to current business and community needs. More than 60,000 students study with RMIT, and many of their degrees are available through Open Universities Australia.

QS RANKING 2022

Times Higher Education Ranking 2022

2021
2022

Subject details

What you'll learn

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.

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

Current study term: 27 Feb 22 to 29 May 22

Check the learning management system (LMS) of your university for textbook details.

Next study term: 28 Aug 22 to 27 Nov 22

Check the learning management system (LMS) of your university for textbook details.

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