Programme And Module Handbook
Course Details in 2021/22 Session

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Module Title LM Road Economics and Financing
SchoolSchool of Engineering
Department Civil Engineering
Module Code 04 25970
Module Lead Dr H Evdorides
Level Masters Level
Credits 20
Semester Semester 2
Restrictions None
Description Road Financing that deals with the options available for funding road network maintenance and development, ranging from government sources, private sector and international agencies. It examines the establishment of road funds, integrity in road financing and management, budget support, private road financing, toll roads, public private partnerships.

Road Economics covers the following topics: Demand, Supply, Consumer and producer Surplus, Principles of Transport Appraisal Theoretical basis of Cost-Benefit analysis, Traffic Type and Traffic Volume Forecasting, Summary Project Performance Measures and Their Use in Making Investment Decisions, Vehicle Operating Cost (VOC) Savings, Valuing Travel Time Saving Benefits Costing Road Accidents Shadow Pricing Financial vs. Economic Appraisal Risk and Uncertainty in Transport Appraisal

Road Project Appraisal deals with the practical application of principles of economic appraisal through the use of the World Bank's de facto standard for road investment appraisal, HDM-4 to assess the viability of proposed road projects, prepare work programmes, and develop road network strategies and policies. Students will be taught the components of the system and then be asked through a self-learning exercise to use the tool to investigate a number of scenarios.
Learning Outcomes By the end of the module students should be able to:
  • Identify the various sources of funds for road network maintenance and development, and compare and contrast the arrangements used worldwide to manage road networks.
  • Assess the role of economics in road management decision-making.
  • Analyse the modelling framework of HDM-4 and conduct practical case studies using the model.
  • Develop and test investment proposals for improving a road network.
Assessment 25970-10 : Module Mark : Mixed (100%)
Assessment Methods & Exceptions Assessments: Coursework (100%)
Reassessment: Revise and resubmit coursework
Other None
Reading List 3. Highway Development and Management (HDM-4) Documentation Series, PIARC
2. Road Engineering for Development, R Robinson, Bent Thagesen
4. H Evdorides and R Robinson (Ed.), Restructuring Road Institutions Finance and Management, Vol 2: Case Studies and Questions, ISBN 978-0-704427-17-4, 2009
1. Road Maintenance Management, R Robinson, U Danielson, M Snaith