07:20 PM to 10:00 PM M
Innovation Hall 215G
Section Information for Spring 2019
No business applies economic theory better than airlines. From using price elasticity to determine pricing, to forecasting at many different levels, to using incentives to drive consumer behavior, and more, the airline industry is a perfect application of many abstract concepts from Micro and Macro Economics. Bag fees, delays, strikes, and more all make more sense when the underlying economics are understood.
This class has proven very exciting an interesting for the last two years. You will learn about how airlines make real decisions related to pricing, aircraft scheduling, labor contracts, airport operations, frequent flier programs and distribution, international alliances, and more. Both passenger and freight industry applications are discussed. Using very applied concepts, students will integrate problem sets, readings, business cases, guest speakers currently working in the airline industry, and in-class exercises to keep things interesting and moving. This is a perfect class for Economics majors interested in Business and Finance, and also Business majors, Engineering majors with an aviation interest, and Data Science majors. Cross-listed as both ECON 471 and ECON 695-003, graduate students will also complete a year-end quantitative project that will play concepts learned in the class.