Engineering Economics and Finance for Transportation Infrastructure | springerprofessional.de

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2013 | Buch

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Engineering Economics and Finance for Transportation Infrastructure

verfasst von: Elena S. Prassas, Roger P. Roess

Verlag: Springer Berlin Heidelberg

Buchreihe : Springer Tracts on Transportation and Traffic

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

This textbook provides a fundamental overview of the application of engineering economic principles to transportation infrastructure investments. Basic theory is presented and illustrated with examples specific to the transportation field. It also reviews the history of transportation finance, as well as current methods for funding transportation investments in the U.S. Future problems and potential solutions are also discussed and illustrated.

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Inhaltsverzeichnis

Frontmatter

Introduction

Abstract

In 2011, the American Society for Civil Engineers (ASCE) released an analysis of the funding needs for the nation’s surface transportation systems (highways, railroads, and transit), and the shortfalls in current financing [1]. The report provided a critical wake-up call for this key element of the nation’s infrastructure.

Elena S. Prassas, Roger P. Roess

Engineering Economic Analysis with Transportation Applications

Frontmatter

Banking Formulae

Abstract

As discussed in the chapter 1, it is useful, as a background to studies of transportation economics, to have a good understanding of the principles of engineering economy, which is extensively treated in the literature [1-4], and of basic banking (compounding) formulae. A study of the methods for handling time differences in the comparison of various project costs (including initial costs, recurring costs, etc) is essential. Every engineer who is called upon to make engineering studies involving cost analysis should be familiar with the following derivations of mathematical formulas used in converting costs that are dissimilar in time to comparable bases. Without these conversions, it would be impossible to compare costs occurring in the future with costs that occur now.

Elena S. Prassas, Roger P. Roess

Use of Banking Formulae in Engineering Economics

Abstract

The primary types of banking transactions discussed in Chapter 2 form the basis for most engineering economic analyses. These principles are generally applied in two ways:

To analyze specific plans for financing transportation improvements; or
To reduce all cost elements in an analysis to a common base.

In the first case, real money transactions are involved. In the second case, the equations are treated as mathematical and philosophical equalities, although no real money transactions are involved.

Elena S. Prassas, Roger P. Roess

The Costs of Transportation for Alternative Economic Analysis

Abstract

The words “costs” and “benefits” carry enormous colloquial connotations with them. In general, it is assumed that costs are negative, and to be avoided whenever possible, while benefits are positive events that should be vigorously pursued.

In the context of an engineering economy study of proposed transportation projects, however, both costs and benefits are ultimately the same thing.

Elena S. Prassas, Roger P. Roess

Illustrations of Complex Economic Analyses

Abstract

The sample problems of this chapter touch on many elements of complexity in comparative engineering economic analysis of transportation alternatives, including, but not limited to:

Estimating user costs and benefits,
Estimating system costs,
Comparing alternatives using estimated costs,
Dealing with different service lives of alternatives and components,
Dealing with varying demand levels for different alternatives, and
Dealing with varying travel time values.

Elena S. Prassas, Roger P. Roess

Financing of Transportation Infrastructure

Frontmatter

History of Transportation Finance in the U.S.

Abstract

From the earliest days of the nation, the issue of how to provide for an effective transportation network was a vexing one. Many of the nation’s founders recognized the need for an effective transportation system to help knit the disparate colonies into a cohesive nation, and to promote commerce.

Elena S. Prassas, Roger P. Roess

Bond Financing

Abstract

Due to the extremely high capital costs involved in the provision of transportation facilities, it is often necessary for government agencies to resort to public borrowing in the form of a bond issue in order to pay for these large transportation projects. Bonds are a type of debt financing, and therefore governments need to justify their reasons for borrowing money. There are several reasons why bond financing is used. The most obvious is that there are not enough current revenues to finance a given improvement.

Elena S. Prassas, Roger P. Roess

Financing Transportation Projects

Abstract

Funding for transportation projects has historically come from governments, including federal, state, and local levels. This remains the current approach as well. More than $200 billion per year is invested in transportation projects [3] across the U.S. The largest source of revenue is the tax on gasoline, both at the federal and state levels.

Elena S. Prassas, Roger P. Roess

Backmatter

Titel: Engineering Economics and Finance for Transportation Infrastructure
verfasst von: Elena S. Prassas
Roger P. Roess
Copyright-Jahr: 2013
Verlag: Springer Berlin Heidelberg
Electronic ISBN: 978-3-642-38580-3
Print ISBN: 978-3-642-38579-7
DOI: https://doi.org/10.1007/978-3-642-38580-3

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