EFN422 A1 Casual Parking At Gardens Point, Qut Assignment Sample

Critically and fully discuss and evaluate the objectives of QUT's pricing policy for casual parking at its Gardens Point campus using appropriate economic concepts and theory.

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Construct graphs to present the parking charges for each hour of weekday causal parking for (a) QUT ID holder and (b) the public.

The OUT D Holder category refers to those who possess a designated parking permit or authorisation, commonly known as "OUT D," valid until August 20, 2023. The parking fees for this particular group are subject to change based on the length of time they utilise the parking space. As an illustration, in the event that an individual holding a "OUT D" permit parks their vehicle for a duration of one hour or less, a fee of $5 is levied. As the length of the stay rises, the associated charges also increase in accordance with the rates specified in the table. For example, when an individual from the general public chooses to park their vehicle for a duration of one hour or less, they will incur a fee of $20. In a manner akin to the "OUT D holder," the fees escalate proportionally with the length of the sojourn. The objective of this comparative analysis is to elucidate the disparity in parking fees between individuals with the designated permit ("OUT D holder") and those who lack it ("Public"). In order to ascertain the appropriate parking fees for various durations of stay, it is crucial to take into account both the client category and the relevant date range.

One of the main goals of QUT's pricing policy is to generate revenue. The implementation of fees for casual parking at the university enables the generation of financial resources that can be allocated towards the upkeep and enhancement of parking infrastructure, in addition to providing support for other campus projects. According to economic theory, pricing can serve as an effective mechanism for efficiently allocating scarce resources, such as parking spots in this particular scenario (Tan et al. 2019). Nevertheless, it is crucial to maintain a harmonious equilibrium between revenue generation and accessibility, since exorbitantly high costs could potentially deter utilisation.

In what way(s) are the tariff structures for QUT ID Cardholder and for the public different?

There are discernible disparities in the pricing structures between QUT ID Cardholders and the general public when it comes to casual parking at QUT's Gardens Point campus. The aforementioned table illustrates the discernible differences in charges associated with different durations of parking stays for each individual group. The tariffs have been specifically formulated to accommodate those who own QUT ID cards and maintain an affiliation with the university. From now until August 20, 2023, those using these cards will be subjected to a series of fees that are dependent on the duration of their stay. These costs will range from $5 to $40, depending on the designated time periods. Starting on August 21, 2023, the pricing framework consistently provides discounted rates that are contingent upon the length of time for which parking is utilised, with prices ranging from $8 to $44.

In contrast, the tariff framework pertaining to the general populace, as revised on the 24th of July, 2023, is applicable to those who are not affiliated with the Queensland University of Technology (QUT). The parking fees for durations up to one hour range from $20 to $90, with an increase in rates for longer time periods. The variation in tariff structures is indicative of a deliberate strategy aimed at providing cost advantages to the university community, while simultaneously ensuring income collection through the price mechanisms implemented for external customers (Iazzolino et al. 2022). These distinctions are in accordance with the overarching goals of accessibility, revenue generation, and equity, while also considering the diverse relationships and roles of different user groups within the parking system on campus (Ibraeva et al. 2020).

Compare and contrast the structure of BCC's metered parking fees with that of QUT

The BCC metred parking fees has been providing more convenient to the people in order to standing the car effectively in the their Parking Zone area.

Figure 1: Parking Zone area 1 charge rate

(Source: Brisbane.qld.gov.au, 2023)

The above figure table demonstrates the overview of the Parking Area Zone 1 charge rate. In addition, it has been noted that up to a 3-hour meter area of the parking space from 7 a.m.-7 p.m. Monday to Friday has charged $ 6.15. In addition, the 4-hour meter space has charged less than the 3-hour meter space charge from Monday to Friday in the area of Brisbane. A comparative analysis of parking fees between the Queensland University of Technology (QUT) and the Brisbane City Council demonstrates notable disparities in their separate pricing frameworks. The parking fees at QUT's Gardens Point Campus vary depending on whether persons possess a QUT ID Card or are members of the general public. The rates for individuals holding a QUT ID Card vary based on the length of their stay. From now until August 20, 2023, the charges range from $5 to $44. Starting from August 21, 2023, the charges will range from $8 to $44. In comparison, the charges for public visitors vary between $20 and $90 for the same time durations.

The parking charges implemented by Brisbane City Council are characterised by the utilisation of a more complex zoning scheme. In Zone 1, there are several prices that apply to different time periods. For instance, between 7am and 7pm on weekdays, a fee of $6.15 is applicable for a maximum duration of 3 hours. On weekends during the same time frame, a fee of $2.10 is charged for a duration of 4 hours or more, with a maximum charge limit of $12. In a similar vein, Zone 2 imposes certain fees. For instance, a fee of $4.05 is applicable for a maximum duration of 3 hours on weekdays between 7am and 7pm. On weekends during the same time frame, the fee for duration of 4 hours or more (with a maximum charge limit of $8.50) is set at $2.15.

The charges in Zone 3 exhibit a consistent structure, wherein the prices are delineated as follows: $2.75 for a duration of up to 3 hours on weekdays between 7am and 7pm, and $1.85 for a duration exceeding 4 hours (with a maximum charge limit of $11.00) during the aforementioned time frame. When comparing QUT's pricing structure with that of Brisbane City Council, it is evident that the latter adopts a more intricate strategy by implementing differentiated prices across different zones, periods, and durations. This method is designed to accommodate diverse parking requirements and individual preferences.

References

• Brisbane.qld.gov.au, (2023). Parking meter fees for cars. https://www.brisbane.qld.gov.au/traffic-and-transport/parking-in-brisbane/parking-meters-and-fees/parking-meter-fees-for-cars
• Iazzolino, G., Sorrentino, N., Menniti, D., Pinnarelli, A., De Carolis, M., & Mendicino, L. (2022). Energy communities and key features emerged from business models review. Energy Policy, 165, 112929. https://www.sciencedirect.com/science/article/pii/S0301421522001549
• Ibraeva, A., de Almeida Correia, G. H., Silva, C., & Antunes, A. P. (2020). Transit-oriented development: A review of research achievements and challenges. Transportation Research Part A: Policy and Practice, 132, 110-130. https://www.sciencedirect.com/science/article/pii/S0965856419304033
• Tan, B. Q., Xu, S. X., Zhong, R., Cheng, M., & Kang, K. (2019). Sequential auction based parking space sharing and pricing mechanism in the era of sharing economy. Industrial Management & Data Systems, 119(8), 1734-1747. https://www.emerald.com/insight/content/doi/10.1108/IMDS-04-2019-0244/full/html