Transportation Economics and Public Policy (355-0-20)

Instructors

Ian P Savage
847/491-8241
Andersen Hall, Room 330

Meeting Info

Harris Hall L07: Mon, Wed, Fri 11:00AM - 12:20PM

Overview of class

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: highways, trucking, 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, managing congestion, subsidies, competition between the various modes, and the social appraisal of projects.

Registration Requirements

ECON 281, ECON 310-1, ECON 310-2

Learning Objectives

"After completing this course, you should know the underlying economics of the demand for and supply of transportation services. You should understand market equilibria, and how failures in market processes lead to public policy interventions. More generally, the course will teach you how the tools learned in intermediate microeconomics and econometrics courses can be used to analyze
real world markets and public policy decisions in transportation."

Class Materials (Required)

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.

Enrollment Requirements

Enrollment Requirements: Pre-requisite: Students must have taken ECON 310-1 or MMSS 211-1 and ECON 281 or ECON 381-1 or MATH 386-1 or IEMS 304 or STAT 350 to successfully enroll in this course.