Learning Outcomes
Upon the successful completion of the course, the students will be able:
• to know basic economic concepts in general and in transportation in particular, such as: supply, demand, price, cost, costing, pricing, elasticity, etc.,
• to know the terms of competition in freight transportation in Greece and Europe and the position of transportation in the context of the Greek and global economy,
• understand how project concessions and Public-Private Partnerships (PPPs) work, as well as the role of external costs in transportation,
• to use basic Multi-Criteria Decision Analysis (MCDA) methods, and
• to evaluate cost-benefit elements and analyze problems of financial evaluation of a transportation project or system using Cost-Benefit Analysis (CBA) and tools such as Net Present Value (NPV) and Internal Rate of Return (IRR).
Course Content (Syllabus)
1. Basic economic concepts for engineers.
2. Supply, demand, and price in general and in transportation.
3. Costs and pricing of transportation services.
4. Terms of competition in freight transportation in Greece and Europe.
5. Transportation in the context of the Greek and world economy.
6. Project concessions and Public-Private Partnerships (PPPs) in transportation.
7. External costs in transportation.
8. Introduction to Multi-Criteria Decision Analysis (MCDA) methods.
9. Multi-Criteria Decision Analysis (MCDA) software packages.
10. Evaluation of investments in transportation infrastructure.
11. Valuation of cost and benefit elements.
12. Examples of solving the problem of financial evaluation of a transportation project or system.
13. Presentation of student essays.
Keywords
Economis, Transportaion, Costs, Pricing, Elasticity, Multi-criteria analysis, Cost-Benefit Analysis (CBA)