query: What are the main branches of economics?
passage: Outline of economics
Macroeconomics – branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. Microeconomics – branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.
passage: Transport economics
Transport economics is a branch of economics founded in 1959 by American economist John R. Meyer that deals with the allocation of resources within the transport sector. It has strong links to civil engineering. Transport economics differs from some other branches of economics in that the assumption of a spaceless, instantaneous economy does not hold. People and goods flow over networks at certain speeds. Demands peak. Advance ticket purchase is often induced by lower fares. The networks themselves may or may not be competitive. A single trip (the final good, in the consumer's eyes) may require the bundling of services provided by several firms, agencies and modes.