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Course in Economic Evaluation of Airport Projects

300-hour online course in Economic Evaluation of Airport Projects. 6 modules covering the Commission guide to cost-benefit analysis of investment projects (2014), Delegated Regulation (EU) 480/2014, cost-benefit analysis methodology and Microsoft Excel. Assigned tutor and open enrolment.

Duration300 h
ModeOnline
Start datesSet by the faculty
AwardSEIUM Institute certificate
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Learning outcomes

What you will be able to do

01

Understand the economics and the revenue and cost structure of airports.

02

Produce demand forecasts using econometric methods.

03

Build financial models for airport projects.

04

Apply the European cost-benefit analysis methodology.

05

Analyse risks and uncertainties through simulation.

06

Assess alternatives using multiple criteria and State aid rules.

07

Produce the complete economic evaluation of an airport project.

Profile

Who it's for

  • Airport investment analyst who wants to specialise in Economic Evaluation of Airport Projects.
  • Transport economist who wants to specialise in Economic Evaluation of Airport Projects.
  • Project evaluation consultant who wants to specialise in Economic Evaluation of Airport Projects.
  • Airport planning technician who wants to specialise in Economic Evaluation of Airport Projects.
  • Project finance analyst who wants to specialise in Economic Evaluation of Airport Projects.
  • Public policy evaluator who wants to specialise in Economic Evaluation of Airport Projects.
  • Engineering or science graduates seeking to enter airport management.
Standards & tools

What you'll work with

  • Commission guide to cost-benefit analysis of investment projects (2014)
  • Delegated Regulation (EU) 480/2014, cost-benefit analysis methodology
  • Guidelines on State aid to airports and airlines (2014/C 99/03)
  • Directive 2009/12/EC, airport charges
  • ICAO Document 9562, Airport Economics Manual
  • ICAO Document 9082, Airport Charges Policies
  • Law 18/2014, on urgent measures for growth, competitiveness and efficiency
Syllabus

6 modules · 300 h

  1. 1.1Air transport markets
  2. 1.2Airline business models
  3. 1.3Aeronautical and commercial revenues
  4. 1.4Cost structure of an airport
  5. 1.5Economies of scale and density
  6. 1.6Regulation of airport charges
  7. 1.7Competition between airports
  8. 1.8Catalytic effects on the regional economy
  9. 1.9Privatisation and concessions
  10. 1.10Case study: airport income statement
  1. 2.1Traffic forecasting methods
  2. 2.2Econometric traffic models
  3. 2.3Elasticity with respect to income and charges
  4. 2.4Scenarios and sensitivity
  5. 2.5Air cargo forecasting
  6. 2.6Design peak hour
  7. 2.7Demand uncertainty and risk
  8. 2.8Sources: ICAO, IATA, Eurocontrol
  9. 2.9Validation of forecasts
  10. 2.10Workshop: econometric passenger forecasting in R
  1. 3.1Cash flows of airport projects
  2. 3.2NPV, IRR and payback period
  3. 3.3Discount rate and cost of capital
  4. 3.4Financing structure
  5. 3.5Financial model in a spreadsheet
  6. 3.6Sensitivity and scenario analysis
  7. 3.7Monte Carlo simulation
  8. 3.8Valuation of concessions
  9. 3.9Airport project finance
  10. 3.10Practical: financial model of a terminal expansion
  1. 4.1European Commission methodology
  2. 4.2User benefits: time and cost
  3. 4.3Producer surplus
  4. 4.4Externalities: noise, emissions and accidents
  5. 4.5Shadow prices and conversion factors
  6. 4.6Social discount rate
  7. 4.7Wider economic effects
  8. 4.8Risk analysis in CBA
  9. 4.9Distribution of benefits
  10. 4.10Case study: CBA of a new runway
  1. 5.1Multi-criteria analysis of alternatives
  2. 5.2Evaluation of alternatives
  3. 5.3Real options in infrastructure
  4. 5.4Ex post evaluation and cost overruns
  5. 5.5Optimism bias and reference forecasts
  6. 5.6Evaluation of underused regional airports
  7. 5.7State aid: 2014 guidelines
  8. 5.8European Court of Auditors reports
  9. 5.9Communicating results to decision-makers
  10. 5.10Workshop: multi-criteria analysis of expansion alternatives
  1. 6.1Project definition and alternatives
  2. 6.2Demand forecasting
  3. 6.3Estimation of investment and operating costs
  4. 6.4Financial model of the project
  5. 6.5Social cost-benefit analysis of the project
  6. 6.6Project risk analysis
  7. 6.7Conclusions and recommendation
  8. 6.8Executive summary for decision-makers
  9. 6.9Report and presentation
  10. 6.10Final review with the tutor
Methodology, software & labs

How you'll learn

100 % online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: students progress at their own pace within the enrolment period, which makes it possible to combine the course with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Microsoft Excel, R, @RISK, Python with statsmodels, Expert Choice, in free, academic or evaluation versions. Case studies cover real air traffic demand forecasting procedures, financial modelling of an airport investment and social cost-benefit analysis of alternatives. Assessment is continuous, module by module, plus the final integrating project.

Accreditable laboratories(EN ISO/IEC 17025) with rotor rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-driven Master's Thesis:safety case, test plan, compliance dossier and operational limits.
Industry mentoring:lecturers with experience in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:safety-by-design approach, cyber-OT, DIH and compliance as pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Project definition and alternatives

Understand the economics and the revenue and cost structure of airports.

Demand forecasting

Produce demand forecasts using econometric methods.

Estimation of investment and operating costs

Build financial models for airport projects.

Financial model of the project

Apply the European cost-benefit analysis methodology.

Social cost-benefit analysis of the project

Analyse risks and uncertainties through simulation.

Career opportunities

Where this takes you

Airport investment analystTransport economistProject evaluation consultantAirport planning technicianProject finance analystPublic policy evaluator
Admissions & scholarships

Requirements

  • No prior qualification is required.
  • Internet connection and a computer capable of running the programme's software.
  • Sufficient command of Spanish to follow technical regulatory texts.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme comprises 300 hours in total, spread over 3 to 5 months. That is between 10 and 15 hours per week on average, compatible with a full-time job.

The course uses Microsoft Excel, R, @RISK, Python with statsmodels and Expert Choice. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

A SEIUM own diploma on passing the continuous assessment and the integrating project. It is in-house training, not an official qualification from the Ministry.

Yes. Modules passed in a course or postgraduate diploma in the same area can be recognised towards the advanced programme. Check the recognition policy when you enrol.

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