Transport economics is an applied branch of economics that studies the efficient use of society’s resources, and the movement of people and goods over space and time from their origin to destination. It is primarily concerned with resource allocation within the transport sector, and maintains interdisciplinary connections to microeconomics and civil engineering. The issues reviewed beneath the umbrella of transport economics include pricing and regulation, economic stimulus, financing, funding, privatization, expenditures, demand, and externalities.
Transport economics also focuses on the benefits and consequences of transport systems, such as enhanced opportunities for international trade and economic integration, improved mobility of labour, and issues of transport demand, such as the need and difficulties associated with moving goods of freight from the point of manufacture to the point of consumption. Transport economics also reviews traditional transport infrastructure, and is the social capital invested in moving people and services, to investigate how to create stimulus for regional and international economic development.
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