Economics of Tourism
Code: 101206 ECTS Credits: 6| Degree | Type | Year | Semester |
|---|---|---|---|
| 2500894 Tourism | OB | 2 | 1 |
Contact
- Name:
- Albert Vancells Farraró
- Email:
- albert.vancells@uab.cat
Teaching groups languages
To check the language/s of instruction, you must click on "Methodolody" section of the course guide.
Teachers
- Ferran Armada Ramírez
Prerequisites
Do not exist, but some knowledge of Economic Theory is required
Objectives and Contextualisation
The course of Tourism Economics provides an essential approach to the tourism sector from a macroeconomic point of view. The objective of the course is twofold: first, to study the economic impact and contribution of tourism at local, national and international level; and second, to understand the functioning of aggregate markets and how different economic circumstances affect the tourism sector to enhance students' skills to analyse and take decisions in the tourism business environment.
The course is organized in lectures, and guided and self-study activities, with a balance between theory and practice. In the theory sessions, different static models will be used to study, in a simplified manner the following questions:
- Definition and determinants of the main aggregate economic variables, such as the level of production of goods and services, employment, prices, interest rates, exchange rates.
- An introduction to the issues of growth and development economics in the tourism context.
- The impacts of the tourism industry on the economy in Spain and some neighbouring countries.
- The effects of the economic policies implemented by the government on the overall performance of the economy and on the tourism sector in particular.
After completing this course, students should be able to understand the functioning of current mixed economies, to be familiar with the most relevant statistics, to compare theoretical results with empirical evidence, to evaluate critically the relationship between tourism specialisation and economic growth, and to undertake empirical research in tourism economics.
These objectives involve developing two types of skills: specific skills, related to concepts, methods, tools and indicators used in macroeconomics, and transversal skills, such as ability to deductive analysis, graphical analysis and critical thinking, among others.
Gender perspective will also be introduced in the different activities developed throughout the course.
Competences
- Analyse quantitative and qualitative information on the economic dimension of the tourism sector and its companies: characteristics of the companies, evolving weight of the sector, market research, etc.
- Develop a capacity for independent learning.
- Evaluate the economic dimension of tourism at different scales and analyse the interrelationship between them.
- Identify and evaluate the elements of a tourism system and how they interact with and impact the environment.
- Negotiate with different bodies on tourism development projects for particular areas and regions.
- Plan and manage activities on the basis of quality and sustainability.
- Plan, organise and coordinate a work team, creating synergies and showing empathy.
- Use communication techniques at all levels.
- Work in a team.
Learning Outcomes
- Analyse the effects of disturbances to supply and demand in closed and open economies.
- Associate a business's technological structure with its costs structure and describe the transfer processes.
- Describe the economic dimension of tourism at different levels: micro and macro, sub-sectors, flows and geographic areas segmented by level.
- Develop a capacity for independent learning.
- Evaluate the functioning and the current state of the Spanish economy.
- Evaluate the impact of the government's taxation activity on the sector.
- Identify international factor movements and analyse the corresponding markets.
- Identify the patterns of tourism development in Spain, its institutional framework and its market evolution.
- Plan and manage activities on the basis of quality and sustainability.
- Plan, organise and coordinate a work team, creating synergies and showing empathy.
- Single out the balancing effects in different competition regimes.
- Use communication techniques at all levels.
- Work in a team.
Content
Introduction: Tourism and Macroeconomics
Topic 1. Main variables and macroeconomic issues
1.Introduction and objectives of macroeconomics and the international context
2.Basic concepts: nominal and real values; aggregate production, labor market, employment and unemployment, public budget, balance of payments
Topic 2. Real Economy: Aggregate Production, National Accounts and Economic Growth
1.Economic aggregates: production and income, the circular flow of income and expenditure.
2.Components and methods for calculating GDP and national income
Topic 3. Prices and inflation
1.The general level of prices: concepts and measurement
2.Types and effects of inflation
3.Competitiveness and prices in the tourism sector
4.Effects of tourism on the price level of destinations
Topic 4. Labor market and unemployment
1.The labor market: labor supply and demand
2.Unemployment: theories and policies
3.Labor market in the tourism sector: characteristics of employment (temporary, seasonality, wage differences) and unemployment
Topic 5. The Public Sector
1.The economic role of the state.
2.Public revenue and expenditure: public deficit and the fiscal multiplier
3.Macroeconomic policy: effects and doubts
4.Government intervention in the tourism sector
Topic 6. Other topics of the tourism economy
1.Economic impacts. The economic growth of tourism
2.Tourist multiplier
3.Seasonality
4.Others
Methodology
Language:
Degree in Tourism in English: English
Degree in Tourism: Spanish
The master classes of the theory will be combined, with classes of directed activities and practices based on the theory. There will also be a part of self-learning, especially in the part of the syllabus that can be studied through the documentation and bibliography provided
Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.
Activities
| Title | Hours | ECTS | Learning Outcomes |
|---|---|---|---|
| Type: Directed | |||
| Theory | 35 | 1.4 | 1, 2, 5, 6, 3, 11, 7, 8, 12, 9 |
| Type: Supervised | |||
| Tasks | 20 | 0.8 | 4, 12, 9, 10, 13 |
| Tutorship | 25 | 1 | 4, 12, 9, 10, 13 |
| Type: Autonomous | |||
| Study | 40 | 1.6 | 4, 9 |
Assessment
Continuous Assessment:
a) Two individual tests based on theory and exercises (50% of the final mark). In these exams, a minimum grade of 4 must be obtained in order to pass the continuous assessment.
b) Individual and group exercises developed throughout the semester (25% of the final grade).
c) Applied work and public presentation (25% of the final mark).
Single assessment, provided by
- Who does not pass the continuous assessment. In this case, the teaching team will indicate which parts of the assessment will have to be retaken
- Students who have indicated that they will follow this option within the period indicated by the administrative calendar.
This assessment will consist of:
- Delivery of 3 exercises. (25%)
- Delivery of the final work of the course. (25%)
- Complete examination, practical and theoretical, of the entire syllabus. (50%)
If any of these parts are not completed, the final grade will be "Not Evaluable".
Re-evaluation: Those students who have not passed the single evaluation and have achieved a minimum grade of 3.5 will be presented.
Assessment Activities
| Title | Weighting | Hours | ECTS | Learning Outcomes |
|---|---|---|---|---|
| Exam I | 25 | 2 | 0.08 | 1, 2, 5, 6, 3, 11, 7, 8, 9 |
| Exam II | 30 | 2 | 0.08 | 1, 2, 5, 6, 3, 11, 7, 8, 9 |
| Individual and group exercises | 20 | 5 | 0.2 | 1, 2, 5, 6, 3, 4, 11, 7, 8, 12, 9, 10, 13 |
| Research essay | 25 | 21 | 0.84 | 1, 2, 5, 6, 3, 4, 11, 7, 8, 12, 9, 10, 13 |
Bibliography
- Blanchard, O. (2020). MAcroeconomics. 8th Edition. Pearson
- Mankiw, N. G., & Taylor, M. P. (2014). Macroeconomics. London: Cengage Learning. Available online at the UAB library.
- Turner, R. (2016) Travel & Tourism Economic Impact 2015 WORLD. World Travel & Tourism Council (WTTC). Available online at WTTC webpage.
- Tribe, J. (2016). The Economics of recreation, leisure and tourism. London; New York: Routledge. Available at the UAB library.
- UNWTO (2013). Economic Crisis, International Tourism Decline and its Impact on the Poor, World Tourism Organization (UNWTO) and International Labour Organization (ILO), Madrid, Spain. Available online at ILO website.
Software
There isn't.