US Economics Substitutes and Parking Rationing Project
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Casual Parking at QUT
Note: A1 Essay due date moved to April 18 (Tue).
Task:
Conduct some search to find out the casual parking
charges at QUTs Kelvin Grove campus and at UQs St
Lucia campus, and the parking fees of a typical private
car park within the Brisbane CBD. By comparing and
contrasting the various pricing schedules, using
appropriate economic concepts, critically discuss the
rationale(s) behind the pricing policy for weekday
casual parking at the Gardens Point campus.
GP Casual Parking Charges
Some Questions to Consider
In your essay you may consider the following questions, which I should point out are neither
compulsory nor exhaustive.
a)
What are QUTs objectives of operating these casual parking facilities at GP? (Is QUT aiming to
maximise its profits from running its car parks? Or is it trying to maximise the welfare of its students?)
b) Why different rates for different durations of parking for QUT staff/students? (Can you work out
the charges for the 1st, 2nd, etc hour of casual parking at GP?)
c)
Why more expensive for the public and visitors? (If QUT charges the public for using its car park at
GP at the same rates as its students, will it benefit its students?)
d) In what ways are the parking charges at KG similar to and different from those at GP? (Which is a
closer substitute for a parking space in the CBD – a parking space at KG or GP?)
e) How about casual parking charges at UQs St Lucia campus? (As above in point d.)
f)
If you operate a private car park in the CBD, what is your objective? How does their pricing
strategies serve to achieve this objective? (You may also find out the charges for the 1st, 2nd
hour of
parking at a typical private cark park in the CBD. Is there any difference between b and f?)
Relevant concepts
Scarcity, opportunity cost
Substitutes
Demand and Supply
Law of DMU
A typical students demand (MU) for parking and its shape
Consumer surplus, producer surplus, social surplus
Multi-part pricing
Rationing
Casual Parking at QUT
Background:
The QUT Gardens Point campus is situated in the city centre with very
limited parking spaces for staff and students. The situation has been
improved since the construction of the underground car park in P
Block. Before that, at the start of a VC Forum where academic and
professional staff had open conversation with the Vice-Chancellor,
Professor Peter Coaldrake (QUT VC, 2003-17) jokingly remarked that
he would gladly answer any questions except parking.
In this case study, we will be looking at the pricing policy of casual parking at the Gardens Point (GP)
campus. The weekday casual parking charges at GP (P Block and Under freeway) as displayed at the
boom gate are presented below. Note that casual parking under the freeway and in P Block is open
to the public.
Weekday Tariff
ID Cardholder
Visitor / Other
Up to 1 Hour
$5.00
$15.00
Up to 2 Hours
$6.00
$30.00
Up to 3 Hours
$8.00
$45.00
Up to 4 Hours
$10.00
$60.00
Up to 5 Hours
$12.00
$75.00
Up to 6 Hours
$16.00
$75.00
Up to 7 Hours
$25.00
$75.00
Up to 8 Hours
$30.00
$75.00
Up to 9 Hours
$35.00
$75.00
Up to 24 Hours
$40.00
$75.00
Task:
Conduct some search to find out the casual parking charges at QUTs Kelvin Grove campus
and at UQs St Lucia campus, and the parking fees of a typical private car park within the
Brisbane CBD. By comparing and contrasting the various pricing schedules, using appropriate
economic concepts, critically discuss the rationale(s) behind the pricing policy for weekday casual
parking at the Gardens Point campus.
Hints:
To get you started, calculate and graph the parking charges for each hour of weekday
causal parking for QUT staff and students and for the public and visitors. In what way(s)
the parking charges for QUT staff and students differ from those for the public and
visitors?
Please be noted that you will be assessed on how well you apply relevant economic
concepts to critically examine the key issues. A pure descriptive account is insufficient to
get you a high grade.
Submission Guidelines:
Individual or Group: It is an individual assignment.
Format: You can use headings to help organise your ideas, but they are not essential.
No abstract or executive summary is required in this essay. Use 1 & ½ spacing and
font size 11.
Citation Method: You can use any citation system as long as it is used consistently.
We recommend APA.
Word Limit: 1000 words with 10% tolerance, exclusive of words in tables and
reference list (if any).
Due Date: April 19 (Tuesday) 11:59 PM
Submission: Online (Blackboard)
Weighting: 20% of final grade
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Explanation & Answer:
1000 words
Tags:
economics
Substitutes and
Parking Rationing
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