ECON42610 Aviation Economics

Academic Year 2022/2023

This module introduces principles of aviation economics. Air transport markets are described and explained and the key players are identified. Basic market dynamics are analysed. Airline firms are examined in terms of their output, cost and pricing decisions. An understanding of the nature and characteristics of air transport networks is crucial to economic analysis of air transportation systems; the course introduces air transport network models and examines pricing and traffic flow outcomes using these models. Airline network structures are evaluated in terms of their influence on costs, revenues and profitability. Air transport supply and models of airline market structure are examined. Air transport demand is analysed and elasticities of demand are introduced. Air transport markets have traditionally been heavily regulated. The rationale for and approaches to regulation of air transport markets are analysed and the key issues for public policy are identified. The evolution of European air transport policy is traced and the emerging issues in the EU28/European Common Aviation Area (ECAA) are outlined. Data sources for economic analysis of aviation markets are introduced.

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Curricular information is subject to change

Learning Outcomes:

At the end of this module, students should have an understanding of key microeconomic principles as applied to the aviation industry.
Students should understand the model of the air transport firm, airline costs, output and pricing decisions.
Students should be able to distinguish different models of network organisation, measure and assess them, and understand the operational, economic and regulatory impacts of the different network structures.
Students should be able to compute, analyse and trace the implications of demand elasticities.
Students should have a good understanding of air transport data sources and be able to gather, analyse and use data sources to trace major industry trends and evaluate emerging issues in the industry.

Student Effort Hours: 
Student Effort Type Hours
Specified Learning Activities

50

Autonomous Student Learning

40

Lectures

20

Online Learning

5

Total

115

Approaches to Teaching and Learning:
Lectures
In-class activities
 
Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Assignment: Project Week 6 n/a Alternative linear conversion grade scale 40% No

25

Examination: Final Written Examination 2 hour End of Trimester Exam No Alternative linear conversion grade scale 40% No

75


Carry forward of passed components
Yes
 
Resit In Terminal Exam
Summer Yes - 1 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 
Feedback Strategy/Strategies

• Feedback individually to students, post-assessment
• Group/class feedback, post-assessment
• Online automated feedback

How will my Feedback be Delivered?

Not yet recorded.

Timetabling information is displayed only for guidance purposes, relates to the current Academic Year only and is subject to change.
 
Spring
     
Lecture Offering 1 Week(s) - 20, 21, 22, 23, 24, 25, 26, 29, 30, 31, 32, 33 Tues 15:00 - 16:50