ECONOMIC ANALYSIS PRIMER
Economic analysis can help determine if a highway project is worth undertaking, when it should be done and what the most cost-effective means is to accomplish it. Economic analysis can also help predict the effects of the project on the regional economy. This primer provides a foundation for understanding the role of economic analysis in highway decision making. It is oriented toward state and local officials who have responsibility for assuring that limited resources get targeted to their best uses and who must publicly account for their decisions. Economic analysis is presented as an integral component of a comprehensive infrastructure management methodology that takes a long-term view of infrastructure performance and cost. The primer encompasses a full range of economic issues, including economic fundamentals, life-cycle cost analysis, benefit-cost analysis, forecasting traffic for benefit calculations, risk analysis and economic impact analysis.
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Corporate Authors:
Federal Highway Administration
Office of Asset Management, 1200 New Jersey Avenue, SE
Washington, DC United States 20590 - Publication Date: 2003-8
Language
- English
Media Info
- Features: Figures; Photos; Tables;
- Pagination: 35 p.
Subject/Index Terms
- TRT Terms: Asset management; Benefit cost analysis; Decision making; Economic analysis; Economic impacts; Economics; Highway planning; Infrastructure; Life cycle costing; Local transportation; Risk analysis; State highways; Traffic forecasting
- Subject Areas: Economics; Finance; Highways; Planning and Forecasting; Society; I10: Economics and Administration; I72: Traffic and Transport Planning;
Filing Info
- Accession Number: 00971200
- Record Type: Publication
- Report/Paper Numbers: FHWA IF-03-032
- Files: TRIS, USDOT
- Created Date: Mar 24 2004 12:00AM