04:30 PM to 05:45 PM M
Section Information for Fall 2022
The airline industry is a dynamic, important industry that helps drive the world economy. Airlines make a lot of decisions - where to fly, what to charge, what airplanes to use, how to finance these airplanes, who to partner with, whether to have a loyalty program, and more. They also must deal with airports, federal and state regulators, and collectively-bargained unions representing their employees.
Most of these decisions have strong economic underpinnings. Issues of price elasticity, supply/demand imbalances, consumer surplus, incentives, labor economics, average and marginal costs, and game theory all come into play. As such, this class is an applied economics class.
Students in the class will learn how airlines really work. This will prepare them to interview well if they choose to apply for a job in the airline industry, but also have applications for many different career choices. Students from earlier classes have both interned and been offered full-time employment from airlines in the U.S. The concepts and techniques taught in the class will be valuable in many contexts.
The class features pre-recorded lectures, so that synchronous class time can be spent inter-actively answering questions, telling stories, clarifying ideas, and digging deeper into some ideas. Homework will include problem sets and business cases, and there are two exams.
ECON 471 DL1 is a distance education section.