| Identify basic concepts on transportation economics and interpret transportation economics by using methods and tools of economics. |
| Apply microeconomic principles such as demand, supply, price and income elasticities, market equilibrium and congestion effects to analyze transportation markets and issues. |
| Evaluate the theoretical problems related to transportation or current issues using welfare economics, benefit cost analysis and similar approaches. |
| Capacity to analyze and compare policy measures using cost-benefit evaluation tools. |
| Explain market failures in transportation, including externalities, public and demerit goods, inequality and asymmetric information, and evaluate government interventions such as regulation, privatization, deregulation and congestion policies. |
| Compare market structures in transportation (monopoly, monopolistic competition and oligopoly) and evaluate their effects on prices, output and welfare, with reference to cargo and passenger transport and airports. |