Transport Economics MSc

Course overview

If you're an ambitious numerate graduate, or a practitioner in the field, this Masters degree will equip you with the analytical skills for a rewarding career supporting transport delivery and policymaking at national, regional and local levels.

You'll develop a range of economic skills to help promote economic growth within a regulatory framework that minimises any damaging health and environmental impacts, while incentivising the best use of resources. You’ll also gain insights into how economics, planning, environmental science, modelling and engineering can work together to design sustainable solutions to global challenges.

Studying in the Institute of Transport Studies at Leeds will give you a unique head start in your career in transport. The course has been designed following close consultation with industry practices and is shaped by our impactful and topical research, delivered by leading researchers with an international reputation – so you’ll be learning the most up-to-date and relevant information throughout the course.

Our industry links with large corporations mean you’ll have the chance to interact with potential employers and possibly interview for graduate schemes and other vacancies. We also offer opportunities to build your industry work experience before you graduate with work placements and project work throughout your course.

This means you’ll be fully equipped to pursue your next steps in industry, with the topical knowledge, specialist skill set and practical experience to excel in this field.

Why study at Leeds:

• Our Institute for Transport Studies’ globally-renowned research conducted right here on campus feeds directly into the course, shaping your learning with the latest thinking in transport economics – and beyond.
• Advance your knowledge and understanding of the complex interface between transport and the wider economy (economic appraisal), learning pricing techniques, the importance of economic regulation and the valuation of third-party costs and benefits (micro-economics).
• Develop a professional and specialist skill set that will enable you to create quantitative models using real-world data and test economic theories (econometrics).
• Tailor the course to suit your career aspirations with a selection of optional modules that’ll hone your knowledge in the topics that interest you the most.
• Build industry experience collaborating on a multi-disciplinary team project with students from other degree specialisms that focuses on a real-world transport problem posed by Leeds City Council or another organisation. You may also be able to apply for an optional industrial placement.
• Experience expert theoretical and practical teaching delivered by a programme team made up of researchers and academics from the Institute for Transport Studies who have extensive expertise across a variety of transport disciplines.
• Take advantage of our close working relationships with big organisations in industry such as ARUP, AECOM and Transport for London who actively advertise and recruit directly from the Institute of Transport Studies. Many of these organisations are members of the ITS Industrial Advisory Committee who directly inform and advise on course content and priorities.
• This course offers flexible study options where you can study full-time over 12 months or part-time over 24 or 36 months.

View this video on Bilibili.

Join our online taster course

This two-week course offers a great taste of studying 21st-century transportation challenges at a postgraduate level.

Course details and modules

Throughout the course, you'll study core modules that lay the foundations of the programme. You’ll develop the knowledge of key principles and topics in transport economics, as well as econometrics and cost-benefit analyses. You'll also be exposed to the multiple disciplines within the transport sector and have an overview of transport modelling, planning and engineering and how these fit with transport economics.

You’ll also be able to choose from a wide range of optional modules. This allows you to develop more specialised skills and tailor your degree towards your preferred career interests. You'll also study our Transport Integrated Project module, which gives you an experience of a typical real-world transport project.

Course structure

The list shown below represents typical modules/components studied and may change from time to time. Read more in our terms and conditions.

Compulsory modules

Shaping Future Systems – 15 credits

In the Shaping Transport Futures module, you'll understand the fundamental relationships in transport systems, their interactions with other sectors, and future opportunities and challenges. You'll also learn about interventions in managing transport systems, contrast international approaches to transport planning and management, and acquire the fundamental techniques necessary to work in interdisciplinary teams. These skills will prepare you for the Transport Integrated Project module delivered in the following semester.

Principles of Transport Economics – 15 credits

Throughout this module, you'll learn how to determine appropriate approaches to the measurement of costs, determination of prices, and allocation of resources in the transport sector. You'll gain an understanding of the special problems in terms of peaking, increasing returns to scale, and joint costs of that sector. You'll be able to determine what the “right” price is in transport and how to assess how close we are.

Welfare Economics and Cost-Benefit Analysis – 15 credits

Acquire the skills needed to make important conclusions through cost-benefit analysis. Evaluating the welfare implications of projects and public policies is not an easy task. The Green Book and the Transport Appraisal Guidance provide substantial guidance for practitioners. In order to successfully and correctly apply these guidelines, you need to have a thorough understanding of the underlying concepts of welfare economics. This module provides you with the essential building blocks and methodologies to do so.

Transport Econometrics – 15 credits

You'll have the opportunity to learn through a hands-on approach the use of econometrics in transport applications. After you have been given an introduction to the basic theory, which does require a need for matrix algebra, the lectures will make use of transport examples to demonstrate the various topics covered by the syllabus. You'll be provided with data to analyse in practical work and as coursework.

Economics of Regulation – 15 credits

Transport continues to be a major issue in the UK and internationally. In the UK and elsewhere, public utilities are the source of considerable employment opportunities for micro economists. In this module, we will provide you with a thorough understanding of the costs and benefits of alternative approaches to correcting market failure in relation to public utilities, such as in the transport sector. You'll cover theoretical concepts and real-world examples focusing on the UK. You'll also consider international evidence to draw out important similarities and differences to help answer the question of how best to regulate and involve the private sector notably in the public utilities.

Economic Appraisal and Economic Performance – 15 credits

Study the latest developments in economic appraisal, focusing on the key theoretical innovations and their application. You'll learn about the economic analysis underpinning the evaluation of major infrastructure projects such as HS2 and Crossrail, urban realm improvements, active travel measures which impact public health and a range of other interventions which test the boundaries of current methods.

Transport Integrated Project – 15 credits

This group project lets you develop industry experience of working within the transport sector, as part of a multidisciplinary team. You’ll work alongside students from our other Masters degrees, using your different specialisms to solve a real-world transport problem posed by Leeds City Council or another clientrelevant organisation.

You’ll gain insights into how planning, economics, environmental science, modelling and engineering can work together to develop sustainable solutions to global challenges.

Throughout the project, you’ll be advised by subject experts and will be required to write both group and individual reports. You'll also present your work as a group.

Previous projects have included:

• Designing a new park and ride site
• Designing a new train station
• Redesigning Leeds’ City Square

Transport Dissertation – 60 credits

Your dissertation gives you the ultimate opportunity to develop and apply research and/or design skills in a specialist topic within the transport discipline. You’ll complete an independent research project on a topic of your choice, develop an in-depth knowledge of your chosen subject area, and demonstrate your findings in a 40-page report.

Some topics are suggested and supported by industry, giving you the chance to address a real-world problem and gain experience of working with industry. Your supervisor will support you throughout the process of developing your dissertation topic.

Optional modules

Please note: The modules listed below are indicative of typical options.

Green logistics – 15 credits

You'll gain the skills needed to work in planning, policymaking and consultancy roles in which you'll need up-to-date understanding of best practice in reducing the environmental problems associated with freight logistics and supply chain activities.

Public Transport Planning and Management – 15 credits

Gain a comprehensive understanding of the critical issues that shape the planning, management, and financing of public transport systems in both developed and developing countries. You'll take part in practical problem-solving exercises that help you understand, evaluate, apply, and communicate the core operating and economic principles of public transport planning.

System Dynamics: Modelling Policy – 15 credits

This module develops your understanding of the structure and dynamics of complex systems in transport. You'll learn how to apply causal loop techniques enabling you to communicate ideas and model structures effectively.

Choice Modelling and Stated Preference Survey Design – 15 credits

Develop the essential principles and techniques of choice modelling and stated preference survey design. You'll learn how to produce insights into choice behaviour, which can guide policymakers, especially when real-choice data is scarce. This module covers a range of topics from basic to advanced techniques, involving a mix of lectures and practical sessions for you to gain hands-on experience.

Transport in Development – 15 credits

This module offers a broad overview of the role of transport mobilities in the development context. You'll explore the economic, financial, institutional, and demographic characteristics of low-income countries and their implications for transport sector policies and practices. This module also allows you to examine the interaction between development policy and transport policy, evaluating the applicability and outcomes of different policy approaches and analytical tools.

Fieldwork

At the Institute for Transport Studies, we want you to graduate with hands-on, real-world skills you can take into your career. Fieldwork gives you the chance to build those professional skills and put theory into practice – experiencing transport systems in action and meeting transport professionals who are actively working in the field.

Industrial placements

This programme gives you the opportunity to undertake a paid placement – either over four or twelve months. Our close industry links give you the platform to apply to a number of major organisations such as Network Rail and AECOM. Please note: placement opportunities are limited and therefore the application is highly competitive. Placements are not guaranteed.

Part-time study options

This course is also available to study part-time, over 24 or 36 months. Please get in touch with our admissions team to discuss part-time study options.

For more information and a full list of typical modules available on this course, please read Transport Economics MSc Full Time in the course catalogue

For more information and a full list of typical modules available on this course, please read Transport Economics MSc Part Time in the course catalogue

Learning and teaching

Postgraduate study involves a range of teaching methods, supported by independent learning. You'll learn through a variety of teaching methods such as lectures, seminars, workshops, computer exercises, practical sessions, directed reading, reflective journal, peer review, presentations, discussions, fieldwork and tutorials. You’ll also learn through independent study, allowing you to develop critical problem-solving and research skills that are relevant to a career in transport.

Throughout your degree, you'll be supported by a personal tutor who you can meet regularly to discuss any study or career questions you might have.

There is also the opportunity to apply to the Institute for Transport Studies mentorship programme, where you'll be assigned an alumni mentor who currently works in the industry. The mentorship programme is a great opportunity to receive personal career advice and develop a relationship with someone who is successful in the transport industry.

Active research environment

The Institute for Transport Studies was established as the UK’s first multidisciplinary transport department, and we continue to lead the field with our research. Our economics research has been successful in bridging the interface between academia and industry. For example, the Cost, Quality, Customer (CQC) Efficiency Network initiative offers local authorities throughout Britain the ability to quantify the scope for cost savings in the delivery of highway services and to identify better practices. We have also developed the open-access R package Apollo widely used for choice modelling.

Programme team

The wider programme team is made up of researchers and academics from the Institute for Transport Studies who have extensive expertise tackling a variety of transport problems.

On this course, you’ll be taught by our expert academics, from lecturers through to professors. You may also be taught by industry professionals with years of experience, as well as trained postgraduate researchers, connecting you to some of the brightest minds on campus.

Assessment

Assessment is equally varied and can include coursework essays, case-study reports, group assignments, posters, presentations and exams.

Applying

Entry requirements

A bachelor degree with a 2:1 (hons) in economics (single or joint honours).

Applicants with any of the following will be considered on a case-by-case basis:

• A bachelor degree with a 2:2 (hons), or equivalent where applicants can demonstrate relevant work experience or aptitude in a relevant specialist field.
• Professional qualifications and relevant experience.

Applicants should be able to evidence strong marks in microeconomics and macroeconomics modules.

International

We accept a range of international equivalent qualifications. For more information please contact the Admissions Team.

English language requirements

IELTS 6.5 overall, with no less than 6.0 in any component. For other English qualifications, read English language equivalent qualifications.

Improve your English

International students who do not meet the English language requirements for this programme may be able to study our postgraduate pre-sessional English course, to help improve your English language level.

This pre-sessional course is designed with a progression route to your degree programme and you’ll learn academic English in the context of your subject area. To find out more, read Language for Business (6 weeks) and Language for Business (10 weeks).

We also offer online pre-sessionals alongside our on-campus pre-sessionals. Find out more about our six week online pre-sessional and our 10 week online pre-sessional. 

You can also study pre-sessionals for longer periods – read about our postgraduate pre-sessional English courses.

How to apply

Application deadlines

Please read our How to Apply page for full details, including application deadlines and what to include with your application.

Applicants are encouraged to apply as early as possible.

31 July 2025 – International applicants

12 September 2025 – UK applicants

Click below to access the University’s online application system and find out more about the application process.

If you're still unsure about the application process, contact the admissions team for help.

Read about visas, immigration and other information in International students. We recommend that international students apply as early as possible to ensure that they have time to apply for their visa.

Admissions policy

University of Leeds Admissions Policy 2025

This course is taught by

Institute for Transport Studies

Contact us

Institute for Transport Studies Postgraduate Admissions Team

Email: courses@its.leeds.ac.uk
Telephone:

Fees

UK: £13,000 (Total)

International: £32,750 (Total)

Read more about paying fees and charges.

For fees information for international taught postgraduate students, read Masters fees.

Part-time fees
Fees for part-time courses are normally calculated based on the number of credits you study in a year compared to the equivalent full-time course. For example, if you study half the course credits in a year, you will pay half the full-time course fees for that year.

Additional cost information

There may be additional costs related to your course or programme of study, or related to being a student at the University of Leeds. Read more on our living costs and budgeting page.

Scholarships and financial support

If you have the talent and drive, we want you to be able to study with us, whatever your financial circumstances. There may be help for students in the form of loans and non-repayable grants from the University and from the government.  Find out more at Masters funding overview.

Career opportunities

A degree from the Institute for Transport Studies at Leeds opens up a range of opportunities to pursue a rewarding career in this industry. This course will equip you with an extensive specialist skill set, alongside industry experience and the chance to interact directly with industry organisations which could give you the edge with employers.

Transport consultancies are the largest employers of our graduates, but other common careers include those in government, academia, regulatory bodies, transport operators, logistics companies, not-for-profit and international agencies.

Our graduates work across the private and public sectors. Many work abroad, whether for UK companies with overseas offices, for international organisations or for national governments.

Plus, the University of Leeds is in the top 5 most targeted universities in the UK by graduate recruiters, according to High Fliers’ The Graduate Market in 2024 report.

Here’s an insight into some of the job roles and organisations previous graduates on this course or similar have secured:

• Economist, Department of Highways
• Senior Economist: Public-Private Partnerships, Ministry of Finance, Namibia
• Economic Analysis Manager, Northern Trains

Careers support

At Leeds, we help you to prepare for your future from day one — that’s one of the reasons Leeds graduates are so sought after by employers. The University’s Careers Service is one of the largest in the country, providing a wide range of resources to ensure you are prepared to take your next steps after graduation and get you where you want to be.

• Links with industry – we have close working relationships with a number of organisations and many employers visit the Institute for Transport Studies each year to interview our students for graduate schemes and other vacancies. We also regularly circulate specific job vacancies to students. Organisations include ARUP, Mott MacDonald, AECOM, Capita, Transport for London, Pell Frischmann, Leigh Fisher, JMP, Amey, among many others. Read more about graduate employability at the Institute for Transport Studies.
• Dedicated Employability Officer — gain quality advice, guidance and information to help you choose a career path. From CV and cover letter writing to supporting you with job applications, our School’s dedicated Employability Officer is on hand to help maximise your capabilities through a process of personal development and career planning.
• Employability and networking events — we run a full range of events, including careers fairs and industry talks in specialist areas and across broader industries, with employers who are actively recruiting for roles, giving you the opportunity to network and engage with industry representatives. 
• Employability skills training – to support your transition to the workplace, we embed training in a range of key transferable skills valued by employers such as research and data analysis in all our programmes.
• MyCareer system — on your course and after you graduate you’ll have access to a dedicated careers portal where you can book appointments with our team, get information on careers and see job vacancies and upcoming events.
• Opportunities at Leeds — there are plenty of exciting opportunities offered by our Leeds University Union, including volunteering and over 300 clubs and societies to get involved in.

Find out more about career support.

Study abroad and work placements

Study abroad

This degree does not offer the option to study abroad.

Work placements

You’ll have the opportunity to gain four or twelve months industry experience in the UK with companies such as Network Rail and AECOM at the end of your Masters course.

It’s important to note, work placements are not guaranteed. The job market is competitive – and there may be competition for the placement you want. You’ll have to apply the same way you would for any job post, with your CV and, if successful, attend an interview with the organisation. After the competitive application process, paid placements are offered from September to December at the end of your studies.

Our Careers Service will help you every step of the way. They run a number of placement sessions to discuss opportunities and support you with CV writing and interview preparations. Plus, they’ll be there to answer any questions you may have and offer guidance throughout the process, too.

Benefits of a work placement year:

• Build industry contacts within your chosen field
• Our close industry links mean you’ll be in direct contact with potential employers
• Advance your experience and skills by putting the course teachings into practice
• Gain invaluable insight into working as a professional in this industry
• Improve your employability

Some of the employers and the job titles of previous placement students are listed below:

• AECOM (Graduate Transport Engineer)
• Network Rail (Strategic Planning Assistant, Timetable Development Assistant, Junior Strategic Planner)
• Transport Consultant, Hydrock Fore
• Transport Consultant, Stantec
• Graduate Transport Planner, WYCA
• Graduate Transport Planner, Hydrock Fore (formerly Fore Consulting)
• Graduate Transport Planer, SLR (formerly Vectos)
• Graduate Transport Strategy Consultant,The Hub Transport Advisory

The scheme is open to all Masters students, including those on a student visa, within the Institute for Transport Studies.