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School of Environment and Society
- Department of Architecture and Building Engineering
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- Common courses
- Liberal arts and basic science courses
- Academic unit or major
- Undergraduate major in Civil and Environmental Engineering
- Instructor(s)
- Takayama Yuki
- Class Format
- Lecture (Face-to-face)
- Media-enhanced courses
- Day/Period(Room No.)
- Fri3-4(M-155(H1104))
- Group
- -
- Course number
- CVE.D311
- Credits
- 1
- Academic year
- 2023
- Offered quarter
- 2Q
- Syllabus updated
- 2023/5/30
- Lecture notes updated
- -
- Language used
- Japanese
- Access Index
-
Course description and aims
To study fundamentals and applications of economic theories (e.g. microeconomics, transport economics and game theory) utilized for analyzing and evaluating infrastructure development.
Student learning outcomes
Studying fundamental ways of economic thinking about infrastructure projects such as: (1) Microeconomic theory on costs and prices; (2) Economic evaluation method of infrastructure projects; (3) Economic analysis of transport policies.
Keywords
Economics, Microeconomics, Transportation and Urban Economics, Public Economics, Market Failure, Externality, Economic Policy
Competencies that will be developed
| ✔ Specialist skills | Intercultural skills | Communication skills | Critical thinking skills | Practical and/or problem-solving skills |
Class flow
While theoretical foundations of economics are explained, mid-term exam will be set. The final exam will also be set.
Course schedule/Required learning
| Course schedule | Required learning | |
|---|---|---|
| Class 1 | Role of economic analysis for evaluating infrastructure develpment | - Infrastructure project and its economic analysis - History of cost benefit analysis - What is the economics way of thinking? |
| Class 2 | Foundations of consumer behavior theory | - Consumption possible frontier (budget constraint) - Preference, utility, indifference curve, marginal rate of substitution - Choice (utility maximization) - Demand function, price/income elasticities - Consumer surplus and benefit calculation - Duality |
| Class 3 | Foundations of producer/firm behavior theory | - Variable input, Fixed input, diminishing marginal productivity - Short term, Long term/Average, Marginal costs - Variable/Fixed Costs - Cost Minimization Problem and Cost Function - Production Technology - Profit Maximization and Production Function - Producer Surplus - Variable/Fixed Cost Functions |
| Class 4 | Theory of market | - Law of Single Price - Price Taker and Price Maker - Market Equilibrium - Excess Demand/Supply - Partial/General Equilibrium - Consumer/Producer/Social Surplus - The 1st Theorem of Welfare Economics - Monopoly and Law of decreasing Marginal Cost, Oligopoly |
| Class 5 | Market failure and its correction: Monopoly and externality | - Monopoly - Externality - Congestion charging |
| Class 6 | Market failure and its correction: Public goods | - Public goods |
| Class 7 | Cost-benefit analysis | - Principle and history of cost benefit analysis - Social discount rate - Definition and measurement of economic benefit |
Out-of-Class Study Time (Preparation and Review)
To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to textbooks and other course material.
Textbook(s)
Particularly not. Handouts will be uploaded to OCWi.
Reference books, course materials, etc.
The followings are all study-aid books.
- Takeuchi (2008) Introduction to transportation economics, Yuhikaku.
- Yamauchi & Takeuchi (2002) Transportation economics, Yuhikaku.
- Hatta (2009) Introduction to Microeconomics 1 & 2, Toyokeizai.
- Fujii (2010) Public works saving Japan, Bunshun.
- Campbell, D.E. "Incentives: Motivation and the Economics of Information (2nd Ed.)" Cambridge University Press, 2006.
Assessment criteria and methods
Report (30%), Exam (70%)
Related courses
- CVE.D201 ： Fudamentals of Infrastructure Planning
- CVE.D210 ： Planning Theory for Civil and Environmental Engineering
- CVE.D312 ： Behavioral Theory of Public Systems
- CVE.D301 ： Traffic and Transportation Systems
- CVE.D403 ： Transportation Economics
- CVE.D211 ： Introduction to National Land Use and City Planning
- ARC.P305 ： National and City Planning
Prerequisites (i.e., required knowledge, skills, courses, etc.)
It is recommend to take "CVE.D201 ： Fudamentals of Infrastructure Planning", "CVE.D210 ： Planning Theory for Civil and Environmental Engineering" and "CVE.D301 ： Traffic and Transportation Systems" in advance.
Contact information (e-mail and phone) Notice : Please replace from "[at]" to "@"(half-width character).
Email: takayama.y.af[at]m.titech.ac.jp
