Advancement of the air transport industry -- Principles of economics with applications in the air transport industry -- Supply, demand and elasticity : analysis in the airline industry -- Cost and production analysis : the general concepts -- Aviation infrastructure : operations and ownership -- International economics and aviation -- Open skies and global alliances -- Competitive market structure and monopolistic markets -- Hybrid market structure and the aviation industry -- Forecasting in the air transport industry -- Dynamic pricing policy and revenue management -- Ultra-low-cost and low-cost airlines : paradigm shifts -- Economics of aviation safety and security -- List of abbreviations -- Glossary of terms -- Answers to selected questions and problems