This Mooc is useful for people who want to understand and master how prices are generally established in air transport and in other sectors like the hotel industry, car rental and tourism. It is especially about management revenue, an economic concept in order to optimize profits and encourage “the right customer to pay the right price at the right time”. The Mooc lasts 4 weeks but you may achieve it in less time (at any time, you can accede to the following lessons).
Social learning platform: FutureLearn
Prerequisites / level : n/a
Language : English
Week 1: The economics of pricing – A first step into revenue management
Week 2: Game session: pricing in a monopoly context – The economics of revenue management
Week 3: Case study – Decision under uncertainty – Revenue management in practice – case study
Week 4: Game session – The present & future of revenue management.
The course is interesting if you want to have an introduction to economic concepts: demand and supply curves, price discrimination, price elasticity, expected revenue … The course may also be useful to improve your English: you have to listen, to read and to comment in English, in an international learner environment.
The course offers an introduction to a general approach of pricing, without going into further details. As it is organized by ENAC (Ecole Nationale d’Aviation Civile) I outline that it’s not specially about the profound changes in the air transport sector, such as evolution of number of passengers or destinations, of costs, of ROI (return on investment), special pricing strategies of low cost companies or competition with other transport modes.
The course offers multiple resources: articles, video interviews, peer-to peer discussions and evaluations, quizzes, game sessions towards a pricing strategy in air transport ( https://lud.io/ ). You can check your understanding in assessment tests: one assessment test (4 questions) at the end of each week. You may also take a pricing decision under competition in a game session where you have to make profit. To achieve successfully the course, you will need to score an average of 70% or above on all tests. The final score is calculated on the average of the assessment tests (weighting : 4×20%) and the successful game session (1×20%). My personal over-all score is 95%. For £ 59.00 (+shipping) you can buy a certificate of achievement from FutureLearn, or otherwise make some screenshots from the “Progress page” to keep your results.
It took me about 2-3 hours a week to follow this Mooc. Thanks to the ENAC and FutureLearn staff.
Reinhard Finke – VdN