Objectives and competences
The objective of this course will led students to:
• describe basic concepts in the field of transport economics (micro and macro level), transport market and marketing,
• understand and apply organizational and legal aspects of transport firms,
• analyse operational costs of a transport company,
• perform advanced calculation of transport price, break-even analysis and target profit analysis,
• use and apply calculation methods, break even analysis, target profit analysis and financial appraisal methods,
• evaluate various business opportunities (based on strategic planning methods and applications in the case of a business plan).
Content (Syllabus outline)
• Basics of transport economics.
• Organizational and legal aspects of transport companies.
• Management models of transport companies
• Economics of transport company
• Practical examples (cases) of calculation for business decisions of transport companies.
• Sensitivity analysis of transport processes
• Key performance indicators for transport company
• Finances and financial analysis of the transport company
• Basics of investment decisions in transport
• Macroeconomics in transport
• Market and Market Mechanism
• Elasticity od supply, demand and prices in transport
• Marketing in transport
• Pricing of transport services
• Basics and methods of strategic planning in transport sector
• Business planning
Learning and teaching methods
Lectures and case studies will be held in lecture room using modern technical aids (computer, projectors, applications for interactive work). In addition, the most up-to-date video content, which is freely available on the World Wide Web, will be used for a more detailed explanation of content. Free tools and additional free trainings of the university business incubator will be available for the needs of the development of business plan.
Intended learning outcomes - knowledge and understanding
On completion of this course the student will be able to:
• understand and explain basic concepts of transport economics, transport market and marketing,
• explain the importance of transport for the development of international trade and functioning of the state (gross domestic product, value added activities, the link between economic activity and transport),
• perform a detailed cost analysis of the transport company and use this knowledge in the projection of costs in relation to the business volume,
• use and apply the mechanism of calculating the brake even point, target profit analysis and financial appraisal methods in the evaluation of strategic decisions of the transport company
Readings
Temeljna/basic:
• Stane Božičnik, Transportna ekonomija, Univerza v Mariboru, 2020
• Tomislav Letnik, PPT prosojnice za predmet Transportna ekonomija, 2020
Dodatna/additional:
• Jonathan Cowie, Stephen Ison, The Routledge Handbook of Transport Economics, 2017
• Chris Nash, Handbook of Research Methods and Applications in Transport Economics and Policy, 2017
• D. J. Spurling, J. Spurling, M. Cao Transport Economics Matters: Applying Economic Principles to Transportation in Great Britain, Brown Walker Press , 2019
• T.Hoon Moon, Transport Economics, Routledge, New York, USA, 2014
• André de Palma, Ecole Normale Supérieure de Cachan, France, Robin Lindsey, Emile Quinet, Roger Vickerma, A Handbook of Transport Economics, 2013
• Kenneth, Button, Transport Economics, 3rd edition, 2010
• Kenneth A Small, Erik T Werhoef, The Economics of Urban Transportation, 2007
• David Banister and Joseph Berechman, Transport Investment and Economic Development, 2000
• Stuart Cole, Applied Transport Economics (Policy, Management and Decission making), 2005
• Emile Quinet, Roger Vickerman, Principles of Transport Economics, 2005
