Topics

The economic problem and its relevance to transport issues

The production possibility frontier and its illustration of the three concepts of scarcity, choice and opportunity cost

The three market systems of the free market, the command economy and the mixed market T

The relevance of economic systems to the organisation and provision of public transport systems through a case study of the Glasgow conurbation

The law of demand and the main factors. The theory of supply and the main factors.

The market and economic principles that underpin the provision of transport services and ensure that such services are provided to those that are willing and able to pay the market price

That even where transport markets are closely controlled and regulated by public authorities, underlying economic principles still apply.

Increasing the use of railways

The market for urban road space

Presentation

Readings