ECONOMICS FOR TOURISM AND TRANSPORT - 2019/0
Module code: MAN2152
This module attempts to critically apply the principles of economics in the business of tourism and transport. The module provides students with opportunities to develop their understanding of key aspects of economics and quantitative economic analysis skills applicable to the tourism and transport industry.
Hospitality, Tourism & Events Management
CHEN L Dr (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 5
JACs code: N800
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
• Demand: time preference, elasticity and forecasting
• Supply and costs
• Market structure and pricing
• Market intervention
• Income, employment and prices
• Economic growth and revival
• International trade and exchange rates
• Environmental economics and sustainable development
|Assessment type||Unit of assessment||Weighting|
|Project (Group/Individual/Dissertation)||Group project report of 3,000 words||60|
|Examination||90-minute closed-book exam of 50 multiple-choice questions||40|
In the event that a group project is not suitable for re-assessment, an individual report of 1,000 words will be assigned.
The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of the principles of tourism and transport economics and the extent to which they are able to conduct economic analysis to support the decision-making process.
Thus, the summative assessment for this module consists of:
• A group project report (60%) of 3,000 words designed to encourage students to demonstrate their ability to analyse and interpret empirical data to support the decision-making process of stakeholders in the tourism and transport industry;
• A 90-minute closed-book examination (40%) consisting of 50 multiple-choice questions aimed at assessing students’ understanding of the key concepts and principles of economics in the context of tourism and transport industry.
Formative assessment will be organised during the semester. Students will be required to submit a report outline within 500 words.
Feedback on the formative assessment will be provided by the lecturers to help the students improve the work.
- This module aims to offer an understanding of practicalities of economics in the tourism and transport industry. Students will examine the factors determining the demand and supply of tourism goods and services, and how tourism organisations are affected by the competitive and macroeconomic environments internationally. In doing so, students will be enable to analyse and interpret economic data to facilitate the decision-making process of stakeholders in the tourism and transport industry.
|001||Understand the key concepts and principles of tourism and transport economics||CT|
|002||Appreciate the specific features of tourism and transport products and services and the ways in which tourism and transport businesses operate||CT|
|003||Analyse the decision-making process of tourism and transport organisations||CK|
|004||Develop quantitative skills for economic analysis in demand forecasting and planning||PT|
|005||Conduct economic analysis to support the decision-making process of stakeholders in the tourism and transport industry by using empirical data||CKPT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 117
Lecture Hours: 22
Seminar Hours: 11
Methods of Teaching / Learning
The learning and teaching strategy is designed to:
• Provide students with key knowledge of tourism and transport economics;
• Encourage students to critically apply the principles of economics in the context of the tourism and transport industry;
• Develop students’ quantitative skills to analyse and interpret empirical data related to tourism and transport economics to support management, marketing and policy decisions.
The learning and teaching methods include:
• Weekly 2-hour Interactive lectures to provide a framework of knowledge with class discussions and illustrations of real-world case examples.
• Weekly 1-hour interactive tutorials including both classroom-based case discussion sessions and lab-based sessions to offer quantitative skills training using applied case studies and empirical data.
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2019/0 academic year.