Section Information for Fall 2020
The airline industry generates 8% of world Gross Domestic Product, and is a critical component to business and leisure economies. Yet, few people really understand how airlines work, and why things seem so crazy about their seating, pricing, and overall customer service. Fortunately, few industries are so directly related to economic theory, as most of the decisions airlines make have a basis in things like price elasticity, incentives, scarcity, opportunity cost, international trade, and marginal versus average analysis. This makes airlines an excellent business to apply concepts learned in earlier classes while learning about one of the most interesting and important industries on the planet. You'll learn why airlines price the way they do, how they choose where to fly and with what aircraft, metrics tracked in the industry, how the US ended up with four airlines that carry 80% of all traffic, how labor economics affect the industry, how airline partnerships and frequent flier programs really work, and more.
The Fall 2020 class will be held online and will be a mix of synchronous and asynchronous. The class is fast paced, interactive, and covers a wide range of current topics including the effects of COVID-19 on air travel and what the future of air travel could look like.