TTransport Economics

Foundation Core Course for:

MSc Logistics, Trade, and Finance

Course Leader: David A. Menachof, Ph.D.

Additional lectures by: Byung Gak Son

Educational Aim

The aim of the course is to help the student develop an understanding of the economic structure of the transport industry at the micro and macro levels. Macro-economic concepts will centre around transport geography issues, while Micro-economic issues will focus on the cost and market structure of the various modes of transport. A foundation of Logistics principles will form the basis for advanced study of International Logistics issues in Block II.

Educational Objectives

The course will make it possible for students to:

• · understand the basic concepts that drive the demand for transportation services
• · determine the reasons for economic growth in geographical regions with regard to transport issues
• · identify the cost structure associated with the various modes of transport and the issues that affect the pricing behaviour of those firms involved in the provision of transport services.
• · analyze in terms of logistics behaviours, the supply chain activities of firms involved in manufacturing and service industries

On completion of the module, the student should:

• · know how to evaluate location decisions which affect industry
• · understand the structure of the transport industry and the variations in the structures of the various modes
• · be able to identify whether a transport firms financial profile is in line with the industry expectations for that mode.
• · know the difference between fixed and allocated costs, marginal and full cost pricing issues, and differential pricing.
• · Be able to apply the total cost concept to a firm's logistics activities.

The module will comprise of 13 sessions of three hours contact time each. In addition, the student will be expected to devote, at least, an equivalent amount of learning time in private and group study of course materials and the preparation of the case presentation.

The modules will generally consist of a period formal lectures with interactive dialogue from the participants, to be followed by a case presentation by one or more of the student groups, with all students expected to be involved in the case study discussion. Students will be expected to prepare prior to the presentation (even on days when they are not the main presenter).

Lectures are to be structured as follows:

• n Lecture 1: Introduction to Transport Economics
• n Lecture 2: Transport Geography/Location Theory
• n Lecture 3: Cost and Outputs: Economies of Scale
• n Lecture 4: Industrial Locational Choice
• n Lecture 5: Modes of Transport - Structure/Economies
• n Lecture 6: Modes of Transport - Structure/Economies
• n Lecture 7: Principles of Liner Shipping
• n Lecture 8: Principles of Port Economics
• n Lecture 9: Introduction to Logistics
• n Lecture 10: Introduction to Logistics
• n Special Link to DTI Website

Assessment will consist of one invigilated test (70%) and one group presentation/case study (30%). Details of the group presentation/case study will be presented during the 2nd lecture.

Reading List (Alphabetical order)

Bamford, Colin (1998) Transport Economics, Heinemann Educational; ISBN: 043533042X

Button, K.J. (1993) Transport Economics, Cheltenham: Edward Elger

Cole, S. (1987) Applied Transport Economics, London: Kogan Page (out of print, see library)

John Joseph Coyle, Edward J. Bardi, C. John Langley, (2002) The Management of Business Logistics, 7th Ed SouthWestern College Publishing

Coyle. J, Bardi, E.J., Novak, R.A. (1999) Transportation 5th Ed, St. Paul: West.

Hoyle, B and R. Knowles (1998) Modern Transport Geography, 2nd Ed. Chichester: Wiley

Lambert, Douglas, Stock, J., Ellram, L. (1998), Strategic Logistics Management (third edition) or Fundamentals of Logistics Management , McGraw-Hill Publishing Company (ISE Editions); ISBN: 0071157522 (basically the same book but with different title for some reason)

Christopher, Martin (1998)Logistics and Supply Chain Management, Financial Times Prentice Hall; ISBN: 0273630490

All of the above books can be ordered from the Amazon.co.uk web site by clicking on the title of the book. Other books on the subject can be found using the search method listed below

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