TRANSPORTATION ECONOMICS AND PUBLIC POLICY
Time: MW 11:00-12:30 with discussion section F 11:00-12:30
Expected Enrollment: 65

COURSE DESCRIPTION: The objective of this course is to provide the student with an understanding of the transportation industries in the United States and the major policy issues confronting government and the public. All modes of transportation are considered: trucking, highways, mass transit, airlines, maritime, railroads, and pipelines. The course acquaints the student with the underlying economics of transportation provision including: demand, costs, the economics of regulation and regulatory reform, the pricing and quality of service, subsidies, competition between the various modes, and the social appraisal of projects.

LEARNING OBJECTIVES: After completing this course, you should:

• know the underlying economics of the demand for and supply of transportation services;
• understand market equilibria, and how failures in market processes lead to public policy interventions; and
• know how the tools learned in intermediate microeconomics and econometrics courses can be used to analyze real world markets and public policy decisions in transportation.

PREREQUISITES: Economics 281, 310-1 and 310-2.

TEACHING METHOD: Two lectures a week. A weekly discussion section held on Fridays.

GRADING: Final examination (40% of the total grade), two mid-term examinations (25% each), and weekly problem sets (10%).

READINGS: Weekly survey readings and articles on contemporary transportation issues posted in Canvas. Lecture materials are supported by a course workbook. It will be available either from a download in Canvas or by an optional hardcopy.