Economics
It is not without reason that the transport industry is rated by economists as one of the most difficult and complex economic activities in the world - the proper management of its operations involves a great deal of market research. Transport economics deals with the financial issues directly related to freight transport. It examines logistics operations, evaluates markets and regulates them, and the results of individual studies have a significant impact on the operation of small, medium and large transport systems. Transport economics is one of several branches of economics and is also the most important factor affecting the profitability of a transport company's operations.
What is transport economics?
What is transport economics? It is a specific branch of economics that focuses on the acquisition of fresh and current knowledge about transport and logistics activities and its study. Transport economics uses the findings of sciences such as mathematics, geography and computer science, as well as knowledge from engineering or the automotive industry. This knowledge is used to improve and modernise transport processes through, but not limited to, financial optimisation.
Transport economics constantly measures the profitability and efficiency of courier routes using all the knowledge it has acquired. Among other things, the department focuses on correct pricing and setting prices in line with the costs incurred, the correct location of transshipment hubs and air hubs, the development of ICT networks to facilitate the operation of complex logistics departments, and ways of financing transport. Transport economics also enables the design of new logistics activities with a view to their financial viability.
Is it worth following the assumptions of economics?
Definitely yes! Transport economics deals with the profitability of logistics activities and allows to improve the offer through its cost optimization. Many companies operating in the transport area do not deal with the issue of economics in an appropriate way, which leads to many financial problems. Incorrect pricing policy and its non-compliance can put any company into huge financial difficulties, which in many cases mean that the transport company is completely unprofitable for further logistics activities.
However, do not forget that transport economics is a specific branch of science - economics, and its study requires years of dedication and education. This is why every company dealing with transport should have a person with extensive knowledge of economics, and it is also worth using external companies. Knowledge allows prices to be adjusted to current conditions and makes it easier to make further investments with considerably less risk than before. A wide range of studies on transport economics guarantees an almost 100% knowledge of logistics activities from a financial point of view.
- Read also in polish language - Ekonomika transportu
- Also read in German - Wirtschaftswissenschaft
- Also read in Slovak - Ekonomika dopravy
- Read also in Czech - Ekonomie-dopravy
- Read also in Romanian - Ekonomie