LOG904-125 Transportation Infrastructure and Economic Development.
The influence that transport has on the economy has always been of interest to policymakers. It has once again emerged centre stage in governments’ decision-making with respect to large infrastructure projects and in efforts to stimulate growth in the economy. The aim of this seminar is therefore to give students a solid grasp of the fundamentals of how, when, why and to what extent transport infrastructure affects businesses and the economy. The course will also give students practical knowledge regarding how to evaluate transport infrastructure’s impact on the economy in a cost benefit analysis paradigm.
The seminar is divided into three parts.
- The first part an overview will be given of how transport affects firms, and transport’s place in regional growth theories including neo-classical, endogenous growth and new economic geography. This will include the size and nature of the impacts that transport infrastructure has on the economy.
- The second part gives an introduction to regional economy modelling methods including reduced form models, input-output models, land use transport interaction models and computable general equilibrium.
- The third part brings together the two earlier parts and examines how economy impacts can be incorporated into appraisal both within a cost benefit analysis paradigm and in a multi-criteria appraisal.
The seminar will be assessed through a 2 part coursework.