TRANSPORT ECONOMICS & INNOVATION
This course will provide students with a solid grounding in the economics of the
transportation sector by an applied view of the microeconomics theories on firm, consumer and market. It covers the key principles governing transportation planning, investment and regulation.
Students should obtain basic skills in the analysis of travel demand and of transportation system benefits. Students should also be able to understand the different internal and external components of transport costs, the basic pricing principles, the technological innovations and how these factors affect the market for transportation infrastructure and services and, consequently, the other industries. Finally, students should be able to apply these concepts to analyse transportation investment decisions and public regulation policies.
Main course objectives:
- Understanding of the importance of transport for the economic development
- Understanding of specificities and issues related to transport industries
- Provide theoretical and methodological basis to understand issues related to mobility in the globalization process and to firm innovation strategies
- Apply economic knowledge to specific transport and mobility problem.
Good knowledge of microeconomics fundamentals.
Transport and economic development: contribution of transport services and infrastructure to local and global economic development, to firm internationalisation process and to European integration process, economic growth theory and transport
Transport markets and industries: different transport modes and market structures (monopoly, oligopoly, etc.)
Transport and industrial location: transport and logistics variables determining firms’ location
The demand for transport: factors influencing the demand for transport services (price, trip purpose, income levels, etc.) and the derived freight transport demand The transport supply and direct costs: elements of firm economic theory applied to transport services, fixed and variables costs, economics of scale, scope and density, the notion of generalised costs, economics efficiency, etc.
Pricing of Transport Services: marginal cost pricing, price differentiation and discrimination, the peak problem
Transport and environment: the external costs of transport, the economic cost of congestion, policies for containing environmental costs
Transport infrastructure and economic development: the importance of infrastructure, private and public investments, transport modelling and planning
Regulation of transport markets: theory of market regulation applied to transport industries
Innovation and transport: physical and virtual networks, infomobility, technological changes in transport and contribution of transport and logistics to firm innovation process
One hour and a half written examination to be held in two steps: in the middle and at the end of the course.
Button K., Transport Economics, 3rd edition, Edward Elgar, 2010. Other book chapters or papers will be recommended at the beginning of the course.
The reading material, the slides and other teaching material will be available on the web learning platform (http://elearning2.uninsubria.it/).
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