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Economics

Code: 103738 ECTS Credits: 6
2025/2026
Degree Type Year
Hotel Management FB 1

Contact

Name:
Albert Vancells Farraró
Email:
albert.vancells@uab.cat

Teachers

Ferran Armada Ramírez

Teaching groups languages

You can view this information at the end of this document.


Prerequisites

There are no prerequisites


Objectives and Contextualisation

This course aims to offer students of the first year of the Degree in Hotel Management the tools and basic concepts used in the field of economics, with particular attention to their application for the analysis of the Tourism Sector. Concepts related to Offer, Demand, Markets, Economic Policies, Inflation or Statistics will be considered.

 The course places special emphasis on two issues: firstly, the student must use the vocabulary and economic language with correctness and precision, dominating the meaning of the most relevant concepts related to the economic reality that surrounds us. Finally, the analysis of examples and the confrontation of knowledge with the real world are prioritized.

The basic training objective is to provide students with knowledge of the basic concepts of economic theory, both in microeconomics and macroeconomics. Learning will be geared towards providing students with the knowledge that will allow them to know and interpret the economic aspects that will surround their subsequent degree courses, but also in their professional future.


Learning Outcomes

  1. CM07 (Competence) Interpret the patterns of Spanish tourism and hotel development, its institutional framework and the evolution of the market.
  2. CM08 (Competence) Integrate economic concepts into hotel and restaurant projects.
  3. KM06 (Knowledge) Identify the theoretical and conceptual basis of tourism economic analysis, both from the microeconomic and macroeconomic aspects.
  4. KM07 (Knowledge) Describe tourism demand and supply, economic cycles and growth, as well as the sector's international economic relations.
  5. KM08 (Knowledge) Identify the general economic situation in order to establish general policies for action in the sector.
  6. SM09 (Skill) Differentiate the balancing effects of different competition regimes in the sector.
  7. SM10 (Skill) Interpret the impact of government tax activity on the hotel sector.
  8. SM11 (Skill) To analyse the economic dimension of tourism through the analysis of tourism demand and supply, markets and economic cycles, among other elements.

Content

Topic 1: Introduction to Economics

Concept of economics: scarcity and choice. Economic agents. The Production Possibility Frontier. Opportunity cost. Factors of production. Macroeconomics and Microeconomics. Economic systems. The economy of tourism. Economic Sectors: Agriculture, Industry, and Services.

Topic 2: Microeconomics (I): Consumer Theory

Consumer decision. Individual Demands and Indifference Curves. Income Effect and Substitution Effect. Laws of Supply and Demand. Factors of Demand and Supply. International tourism demand, in Spain and Catalonia.

Topic 3: Microeconomics (II): Theory of the Firm

Production, the cost of production, and profit maximization. Factors of production (L, K). Evolution of international and Spanish tourism supply. Indicator of supply.

Topic 4: Microeconomics (III): Markets.

Analysis of competitive and non-competitive markets. Market power and types of markets. Application to the tourism sector.

Topic 5: Macroeconomics (I): Macromagnitudes.

GDP and disposable income. Balance of payments. Aggregate Output and Income. Inflation. Employment. Exchange rates. Interest rates. Public deficit. External sector. Calculations of rates and indices. Macroeconomic values of the tourism sector.

Topic 6: Macroeconomics (II): Money, financial system, and inflation.

Economic policy. Function of money. Causes and effects of inflation. Taxes and tariffs. Tourist taxes and inflation. Economic impacts of tourism.

Topic 7: Macroeconomics (III): Labor market.

Unemployment. Main problems of the Spanish and Catalan labor market, productivity, qualifications, temporariness. The problem of seasonality.


Activities and Methodology

Title Hours ECTS Learning Outcomes
Type: Directed      
Theory 44 1.76 CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11, CM07
Type: Supervised      
Tutorials 22 0.88 SM09, SM09
Works 15 0.6 CM07, KM06, KM07, SM09, SM11, CM07
Type: Autonomous      
Self-study 50 2 CM07, SM09, SM10, SM11, CM07

Language: catalan

Every topic will be introduced by the teacher and the students will prepare every topic's point.

Given the practical application, it will be several practices.

On the other hand, the material subject to the sessions will be complemented by the distribution oof compulsory readings, wich will serve not only as a foundation of knowledge but also to promote the reading of subjects.

 

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.


Assessment

Continous Assessment Activities

Title Weighting Hours ECTS Learning Outcomes
Exam 1 30 2 0.08 CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11
Exam 2 30 2 0.08 CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11
Group work 20 8 0.32 CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11
Individual works 20 7 0.28 CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11

Bologna process encourages continuous assessment of students, so it is recommended that students follow the continuous evaluation of this subject. However, the final exam in January is still offered for those students who have not passed the continuous assessment or those who have not followed the continuous assessment.

The continuous assessment of this subject will be done in the following way:

  • There will be 2 partial exams. An exam at the end of topic 4 and the other at finalizing the subject 7. These exams will be 30% and 30% of the mark.
  • A group work. This work must be submitted in writing and orally. This work will be 20% of the note.
  • The remaining 20% of the note will leave the activities and participation of the students. As for example delivery of exercises or practical cases.
The presence of the student in class is considered essential to acquire the knowledge that will then be asked and will be asked for the exams.
To pass the continuous assessment, students must have a grade of 5 or higher, after completing all the activities corresponding to the continuous evaluation, and the two partial examinations must have been done, present the written and oral work. Failure to do any of these tasks will imply not overcoming the continuous evaluation. No minimum grade is required to continue with the continuous assessment. 
For those failed in the Continuous evaluation has the opportunity to resit these activities in the Final Exam date. Teachers will inform about the activities to make again.

The only evaluation will be for those who has expressed this option in the period defined by the Administrative Calendar:

The single evaluationwill consist of:

A final exam of the entire coursesyllabus.

Presentation of 4 practical exercises (individually).

Delivery of the course work (individually).

Not to present one of these activities conducts to a "Non assessable" 

A resit exam will be possible for those who failed the final exam.

The grade for the subject will be NOT EVALUABLE when the student attends less than half of the assessment activities and/or does not attend the final exam.


Bibliography

BASIC

Krugman, P (2020): "Essential of economics" Ed. Macmillan

Mankiw, N. (2018): Principles of Economics Ed. Thomson, Cengage Learning

Mochón, F. (2010) :”Principios de economía” McGraw Hill 4ª edición https://bibcercador.uab.cat/permalink/34CSUC_UAB/1c3utr0/cdi_askewsholts_vlebooks_9788448192976

Ramón, A. & Such, M.J. (2022): "La economía del turismo" UAH 1ª edición 

Reece, W. (2009):"The economics of Tourism". Pearson 
 
Tribe, J. (2013). The Economics of Recreation, Leisure and Tourism. Oxford, Ed. Elsevier (4th Edition)

COMPLEMENTARY

Alegre, J., M. Cladera i C. Juaneda, (2003), Análisis Cuantitativo de la Actividad Turística, ed. Pirámide, Madrid.

Blanchard, O (2009): “Macroeconomía), Pearson Prencite Hall. Madrid

Bull, A., (1995), La economía del sector turístico, ed: Alianza Economía, Madrid

Figuerola, M., (1992), Manual de Economía Turística, Organización Mundial de Turismo

Lorenzo, M., J. Calvo i R. Osuna, (2003), Economia del Turismo, ed. CERA. Madrid

Mankiw, N.G. (2010): “Principios de economía”. McGraw-hill 5ª ed.

Mochón, F., (1994), Economía. Teoría y Política, McGraw-Hill.

Mochón, F (2008): Economía y Turismo, McGraw-Hill

Pedreño, A. i V. Monfort (coord), (1996), Introducción a la economia del turismo en España, Civitas.

Rivas, J., (2003), Estructura y Economía del Mercado Turístico, Ed: Septem, Oviedo

Samuelson, P. i W. Nordhaus, (1999), Economia, McGraw-Hill

Tribe, J., (2000), Economía del ocio y el Turismo, Ed. Síntesis

Uriel, E., (2001), El SectorTurístico en España., Ed. Caja de Ahorros del Mediterráneo (CAM).

Vallés, J., (coord), (1997), Economía Española, McGraw-Hill 


Software

There isn't.


Groups and Languages

Name Group Language Semester Turn
(TE) Theory 1 Catalan first semester morning-mixed