The module provides the basis for the understanding of demand and supply in the transport sector, transport externalities and corrective instruments, and investment and economic appraisal. Transport policies are studied from an economics perspective using economic tools. The module makes students aware of relevant microeconomic theory and solutions to transport problems.

(1) conceptualise transport problems in economic terms; (2) apply economic theory to current transport problems such as for example traffic congestion and CO₂ emissions; (3) understand appraisal methods in transport; and (4) think about how to devise transport policies from an economics perspective.

The module will be delivered through lectures and seminars, in-person and on campus unless mitigating circumstances arise. Seminars will enable small group discussion about key issues relevant to the module. Students are expected to engage with additional module content on Learning Central e.g. readings or other material, to prepare for lectures and seminars, and to supplement and deepen taught components.

During the course of the module there will be plenty of opportunities to practise and master a number of skills. Students will be expected to:

1. debate a topic, justifying arguments in a reasoned way
2. read the latest research on a topic new to the student and be able to grasp the main points, regardless of the student’s background
3. be able to answer specific questions on different transport economics topics.
4. Verbal and written communication, along with problem solving are important employability skills and the module offers an opportunity to practise all these.

THE OPPORTUNITY FOR REASSESSMENT IN THIS MODULE:

Re-assessment

Students are permitted to be reassessed in a module which they have failed, in line with University regulations. https://intranet.cardiff.ac.uk/staff/teaching-and-supporting-students/teaching-support/academic-regulations. The format of the reassessment will be the same as the original assessment and will take place in the Summer re-sit period.

Data Collection and Ethical Approval

For some assessments, students may be required to collect their own data. In such assessments ethical approval from the School Research Ethics Committee must be obtained before data collection can begin. The module leader will discuss the process for obtaining ethical approval if it is needed in this module. Ethical approval is not needed for students using existing, open data sets (e.g. anonymised secondary data). This does not include social media data (e.g., Twitter or Facebook posts), where ethical approval must be obtained. The ethical approval process will take time and you are strongly recommended to adhere to the timetable outlined by the module leader to ensure you are not delayed in your assessment.

Appraisal of transport projects. Important concepts in (transport) economics. Demand, supply and elasticities. Externalities and policies to correct them. Parking policies and road pricing. Discrete choice models. Case studies of transport policies from an economics perspective.