Class title- Transportation Economics

Please follow directions or I dispute

please answer original forum with a minimum of 250 words and respond to both students separately with a minimum of 100 words each.

Page 1 – Original with references 

pahe 2- Cline response with references 

page 3- Benjamin response with references 

Original Forum 

Part One of Two:

Class title- Transportation Economics 

Please write an entry or no more than 500 words of what you have learned in this class, how will you apply this class to your daily life and degree, and how would you improve this class. Part Two of 

Two:Watch the video in this module, take one prediction of 2010 and prove whether it is came true or not. Click here for the video. 


Student Response 

Benjamin

I have enjoyed taking this class and getting a refresher course in economics. I learned a lot in researching the topics we went over. I thoroughly enjoyed the visual impact assessments and think that more large cities could use this to clean up their cities. Recommendations going forward for the next class is that everything stays the same, I enjoyed this class and the topics that were researched. 

How will I use this in my everyday life? As far as using the skills taught, I do not think they will get used until I am out of the military. I do enjoy driving around and doing a visual impact assessment of my own on the architecture in the area and wondering what the thought process was behind the projects. 

The video was interesting and I think I will go with the interest rate being the lowest ever and remaining low. I researched the rate in 2010 and it was around 4.75. This has proven to be true the lowest mortgage rate hit 2.88 this year. I am skeptical on measuring success or economic wealth on mortgage rate when loan interest rates for other things like schools are extremely high. It is possible that companies are making majority of their profits from other loans and are able to lower mortgage rates because of the increase in other rates. 

I have thoroughly enjoyed the posts in this class and reading everyone’s perspective on topics throughout the class. I look forward to seeing some of you in the next class!

Cline

entered this class thinking Transportation Economics was going to apply only to the logistical function of transportation within the total supply chain (SC). This class quickly revealed to me not only transportation in terms of physical movement of goods and services, but the actual infrastructure planning that supports the SC. Pollution and the physical impacts on surrounding land of transportation projects have been issues throughout my life. However, I was never fully aware of the visual impacts of transportation projects, as well as the level to which available tools (GIS) can be used not only in development and planning, but organizational transportation operations as well. 

As I move into the second half of my Master’s Degree journey, the lessons I learned in this class will hopefully open up additional avenues of study for me. I am fairly adept at understanding and working within existing SC frameworks, specifically in terms of transportation operations. Having the economic background and understanding how this impacts prior SC decisions should help me have a more in-depth knowledge of decisions behind the “why” and “how” we conduct business.

Part 2

I will cover 2 predictions (#2- European and Japanese growth will be slower than US, and #3-Emerging markets will outpace existing). During 2010, US GDP grew 2.54%. The prediction of Japanese and European (specifically German) growth being slower than US did not prove true. During the same period, Japanese and German GDP growth were 4.19% and 4.18% respectively. However, the claim that emerging nation growth among emerging nations would outpace existing was proven true (at least in terms of GDP growth). Blanchard et al (2010) reviewed a number of emerging nations for the Brookings Institute. China (10.64%), Russia (4.5%), Mexico (5.12%) and Indonesia (6.22%) all outpaced the United States, Japan and Germany in GDP growth during 2010. Another prediction that proved to be true using World Bank data was #4 (interest rates will remain low). Of the countries previously listed, rates within the US, Russia and Japan continued to decline through 2012. One notable exception was Indonesia, which actually saw an almost 6% rate increase over the same period. No data was available for the other nations.

GDP growth (annual %). (n.d.). Retrieved September 24, 2020, from https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG

Blanchard, O., Das, M., & Faruquee, H. (2010). The Initial Impact of the Crisis on Emerging Market Countries. Brookings Papers on Economic Activity. Retrieved September 24, 2020 from https://www.brookings.edu/wp-content/uploads/2016/07/2010a_bpea_blanchard.pdf

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