Program Overview

Tourism Economics Program

Description

The Tourism Economics course introduces students to the fundamentals of microeconomic analysis as it relates to tourism demand, supply, and the market. The course is divided into three parts: the first part explores the microeconomic concepts underlying tourism demand, including factors such as preferences for tourism, income and time constraints, and the role of prices. The second part examines the supply side of the tourism industry, analyzing the economic rationale behind firms that provide goods and services within the tourism product matrix. The third part focuses on different theoretical market structures within the tourism industry, exploring various models that describe these market structures and gaining insights into how firms compete and strategize to enhance their market power.

Objectives

The course aims to provide students with a comprehensive understanding of the principles, methods, and approaches of mainstream economic theory as applied to the tourism industry. By the end of the course, students will:

• Develop a comprehensive understanding of choice models that explain tourists' decision-making processes related to the length of stay, type of holiday, and destination selection.
• Recognize the significance of key factors such as time, habits, and evolving preferences in shaping tourism decisions.
• Comprehend the different market regimes prevalent in the tourism industry and their application to sectors where tourism firms operate.
• Understand the content and consequences of strategies implemented by tourism firms to increase their market power.

Sustainable Development Goals

The course aligns with the following sustainable development goals:

• Decent work and economic growth
• Industry, innovation, and infrastructure
• Reduced inequalities
• Sustainable cities and communities
• Responsible consumption and production

Teaching Mode

The course is taught in presence.

Learning Methods

The teaching methodology employed in this course is optimized and adaptive, tailored to the skills and interests of individual participants. Students will work on individual dossiers that will be gradually compiled and enriched throughout the course. The instructors will engage in one-on-one interactions with students to assess their prior knowledge in various subjects and establish both short-term and long-term goals.

Examination Information

For the exact structure of the exam, please refer to the teaching material online.

Bibliography

Compulsory

• Candela, Guido, Figini, Paolo. The economics of tourism destinations. Berlin: Springer, 2012.
• Dwyer, Larry, Dwyer, Wayne, Forsyth, Peter. Tourism Economics and Policy. Second edition. Bristol, UK; Blue Ridge Summit, PA: Channel View Publications, 2020.

Deepening

• Stabler, Mike, Stabler, Mike J., Papatheodorou, Andreas, Sinclair, M. Thea. The economics of tourism. 2nd ed. London etc.: Routledge, 2010.
• Tribe, John. The economics of recreation, leisure and tourism. 4th ed. London: Routledge, 2011.

Education

• Master of Arts in Economics and Communication in International Tourism (COM), Lecture, 1st year

Additional Information

• Semester: Fall
• Academic year:
• ECTS: 3.0
• Language: English