Aviation Economics is the study of how economic principles apply to the aviation industry. It examines factors such as supply and demand, pricing strategies, and the financial performance of airlines. This field also considers the impact of government regulations, fuel prices, and technological advancements on the overall efficiency and profitability of air travel. Additionally, Aviation Economics analyzes the broader economic effects of the aviation sector, including its role in global trade and tourism. It looks at how airports, airlines, and air traffic management systems interact within the economy, influencing job creation and regional development.