Lausanne, and Switzerland in general, has a wonderful public transportation system.
You can go almost anywhere in Switzerland using a combination of the federal train system (CFF in french, and SBB in german) and the famous postbuses.
Almost everyone in Switzerland has a annual half-fare card called “Abonnement Demi-Tarif”. This pass enables you to buy all your train or boat tickets at half pric. Children under 16 can obtain a family card that allows him/her free travel anywhere in Switzerland on public transportation when accompanied by a parent. Those younger than 25 are eligible for the yearly “Voie 7” card, which allows free travel from 7:00 pm until the last train of the night. All these passes can be obtained from any CFF office (there is one on campus next to the Information Center on the Esplanade.) You will need a passport photo for the half-fare card, and passports for any of these offers.
The Lausanne area public transport system also has online schedules and ticket information. This site is only in French, but once you look at the map (plan du reseau) and find the line you need, just click on the schedule by line (horaires par ligne) or schedule by stop (horaires par arret) to download the schedule. There are usually several schedules — including weekday (lundi au vendredi), saturday (samedi), and weekends and holidays (dimanche et fêtes).
Buy your ticket at the bus or metro stop before getting on board — and keep in mind that the ticket machines don’t give change! To avoid carrying around huge quantities of coins you can buy a “galaxy” card at any newsagent. If you will be taking a certain line frequently it is probably worthwhile getting a pass. Information and rates for travel within the zones around Lausanne is available in French on the public transport system website.
Why not take a boat trip across the lake? Information and rates are available in english, french and german (CGN – compagnie generale de navigation)
The airports in Geneva and in Zurich are on the federal train lines, with fast trains departing regularly for Lausanne. Each airport train station has a travel office where you will find someone to help you figure out the system.