Air Transport Economics and Policy

课程简介

/ Indicative Syllabus Introduction to Air Transport Economics: The role and importance of air transport in the global economy; key economic concepts such as opportunity cost, the value of money, supply and demand, imperfect markets, market systems (monopoly, oligopoly), and quantity control; the characteristics and structure of the air transport market; the economic models and tools for analysing the air transport market. Air Transport Cost and Production: The components and determinants of air transport costs; the economies of scale and scope in air transport production; the cost and production functions and their properties; the -- 1 of 3 -- 2 productivity and efficiency measures and indicators for air transport; resource allocation for cost reduction and service improvement. Air Transport Market Structure and Competition: The market structure and conduct of the air transport industry; the impacts of market power and competition on air transport performance and welfare; the antitrust and competition policies and regulations for the air transport industry. Air Transport Policy and Regulation: The objectives and instruments of air transport policy and regulation; the evolution and development of air transport policy and regulation; liberalisation in aviation market; the impacts and implications of air transport policy and regulation on air transport performance and welfare. Air Transport Pricing and Revenue Management: The pricing strategies and methods in the air transport industry; the revenue management and optimization models and practices; the price competition among airlines.

目标

This subject will provide students with 1. an advanced understanding of the economic principles and theories that underpin the air transport industry and its regulation; 2. a critical analysis of the current issues and challenges facing the air transport sector, such as market structure, competition, pricing, demand, supply, externalities, social costs and benefits, and sustainability; 3. an appreciation of the role and impact of various policies and institutions that shape the air transport environment, such as international agreements, and environmental regulation; and 4. an opportunity to apply economic concepts and tools to evaluate and propose solutions for real-world problems and cases in the air transport industry.

先修要求

/ Co-requisite/ Exclusion Nil

Teaching Pattern

Methodology Teaching is conducted through class lectures and tutorials. Lectures are aimed at delivering the core knowledge and concepts of air transport economics and policy and policy regulations relevant to air transport. Tutorials are used to reinforce the understanding and application of the economic concepts and tools through exercises and discussions. Teaching/Learning Methodology Outcomes a b c d Lecture     Tutorial     -- 2 of 3 -- 3