Introduction to Air Transport Economics From Theory to Applications 2nd Edition by Bijan Vasigh, Ken Fleming, Thomas Tacker ISBN 140945486X 9781409454861

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ISBN 10: 140945486X
ISBN 13: 9781409454861
Author: Bijan Vasigh, Ken Fleming, Thomas Tacker

Introduction to Air Transport Economics From Theory to Applications 2nd Table of contents:

1. The evolving air transport industry

• the airline industry

• financial condition of the airline industry

• consolidation and bankruptcies

• factors affecting world air traffic growth

• economic impact of the air transport industry

• outlook for the air transport industry

• summary

• discussion questions

• references

2. Principles of economics with applications in aviation

• basic economics

• scope of economics

• the role of economic systems

• government failures and market failures

• summary

• discussion questions

• references

3. Supply and demand: analysis in the airline industry

• basics of demand

• basics of supply

• market equilibrium

• consumer and producer surplus

• disequilibrium

• elasticity

• summary

• discussion questions

• references

4. Cost and production analysis: the general concepts

• cost division

• cost functions

• economies of scale, scope, and density

• airline industry cost structure

• airline economies of scale, scope, and density

• airline breakeven analysis

• operating leverage

• airline operating leverage

• summary

• discussion questions

• appendix: airline cost classification and division

• references

5. Aviation infrastructure: operations and ownership

• air traffic control system

• institutional problems in US air traffic control

• air traffic control in a government corporation

• political obstacles to reform

• solutions to air traffic control problems

• airport ownership and management

• summary

• discussion questions

• appendix

• references

6. International economics and aviation

• trade globalization

• international economics and trade

• why nations trade

• aircraft manufacturing and governmental subsidies

• international trade policy in air travel—optimality versus political realities

• foreign currency and exchange rates

• summary

• discussion questions

• appendix: international free trade agreements

• references

7. Open skies and global alliances

• chronology of international air transport agreements

• bilateral and multilateral air service agreements

• open skies in Europe

• open skies in Asia

• global airline alliances

• summary

• discussion questions

• references

8. Competitive market structure and monopolistic markets

• perfect competition

• monopoly

• price/output decision for monopolies

• monopoly pricing and consumer well-being

• monopoly market power in aviation

• monopsony

• summary

• discussion questions

• references

9. Hybrid market structure and the aviation industry

• monopolistic competition

• oligopolies

• examples of oligopoly

• contestability theory

• kinked demand curve theory

• cournot theory

• price–output determination under hybrid market structure

• profitability issues

• competition and anti-trust issues

• industry consolidation

• beyond market concentration considerations

• anti-trust, market evolution, and cooperation

• summary

• discussion questions

• references

10. Aviation forecasting and regression analysis

• aviation forecasting applications

• qualitative forecasting methods

• quantitative forecasting methods

• descriptive statistics

• time-series analysis

• time-series forecasting

• forecast accuracy

• regression analysis

• data sources

• summary

• discussion questions

• references

11. Dynamic pricing policy and revenue management

• dynamic pricing policy

• cost-based pricing

• markup and price elasticity of demand

• bundling

• unbundling and airline ancillary revenue

• market skimming and penetration pricing

• peak-load pricing

• price discrimination

• consumer surplus

• necessary conditions for price discrimination

• degrees of price discrimination

• uniform pricing versus price discrimination

• importance of revenue management

• scenario: uniform versus multiple pricing

• revenue management “fences”

• revenue management control types

• spoilage and spillage

• leg-based expected marginal seat revenue model

• overbooking

• other issues associated with revenue management

• summary

• discussion questions

• appendix: derivation of overbooking probability equation

• references

12. Low-cost and start-up airlines: a new paradigm

• the evolution of the industry

• characteristics of low-cost carriers

• cost structure comparison

• incumbent carriers’ response to low-cost carriers

• the future of low-cost carriers

• summary

• discussion questions

• appendix: select airline two letter codes

• references

13. The economics of aviation safety and security

• the basics of aviation safety

• the history of aviation safety

• incentives for aviation safety

• causes of aviation accidents

• basic economics of safety

• politics and safety regulation

• accident prevention

• summary

• discussion questions

• references

14. An overview of macroeconomics for managers

• economic growth

• unemployment

• inflation

• monetary policy

• fiscal policy

• the sovereign (government) debt crisis

• can the US avoid Greece’s fate?

• what is the future of the world economy?

• summary

• discussion questions

• references

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Tags: Bijan Vasigh, Ken Fleming, Thomas Tacker, Air Transport