This examination of transport economics brings alive economic theories for students, elucidating traditional concepts by applying them to a real world context. It examines the microeconomic concepts that underpin this sector and the implications for transport markets with real examples from across the EU. Also available is a companion website with extra features to accompany the text, please take a look by clicking below - http://www.palgrave.com/economics/transport/Home.aspx Table Of Contents Foreword - Professor Geoff Harcourt of Jesus College, The University of Cambridge Introduction PART ONE: SETTING THE SCENE The History of Transport The Importance of Transport PART TWO: THE THEORY OF MARKETS The Demand for Transport Markets, Costs and Revenues Competition and Contestability Monopoly Monopolistic Competition Oligopoly Mathematical Appendix PART THREE: MARKET FAILURE Externalities Public and Demerit Goods Inequality and Asymmetric Goods PART FOUR: POLICY Privatisation and Deregulation Project Appraisal - Cost-Benefit Analysis Transport Investment General Forms of Government Intervention Tackling Traffic Congestion PART FIVE: THE FUTURE