ECONOMICS FOR LEISURE & TOURISM - 2021/2
Module code: MAN2126
In light of the Covid-19 pandemic, and in a departure from previous academic years and previously published information, the University has had to change the delivery (and in some cases the content) of its programmes, together with certain University services and facilities for the academic year 2020/21.
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This module attempts to critically apply the principles of economics in the business of leisure and tourism. The module provides students with opportunities to develop their understanding of key aspects of economics and quantitative economic analysis skills applicable to the leisure and tourism industry.
Hospitality, Tourism & Events Management
CHEN Li (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 5
JACs code: L110
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
Indicative content includes:
- Demand: time preference, elasticity and forecasting
- Supply and costs of tourism firms
- Market structure and pricing
- Tourism market intervention
- Income, employment and prices
- Economic growth and revival
- The balance of payments and exchange rates
- Environmental economics and sustainable development
|Assessment type||Unit of assessment||Weighting|
|Project (Group/Individual/Dissertation)||GROUP PROJECT REPORT (3000 WORDS)||60|
|Examination||CLOSED BOOK EXAM (1 HOUR)||40|
In the event that a group project is not suitable for re-assessment, an individual report of 1000 words will be assigned.
The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of the principles of leisure and tourism 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 3000 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 leisure and tourism industry;
- A closed-book examination (40%) aimed at assessing students’ understanding of the key concepts and principles of economics in the context of leisure and tourism industry.
Formative assessment and feedback will be organised during the semester. Students will be required to submit a report outline. Feedback on how to improve the work will be provided by the lecturers.
- The aim of this module is to offer an understanding of practicalities of economics in the leisure and tourism 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 leisure and tourism industry.
|1||Understand the key concepts and principles of leisure and tourism economics||KC|
|2||Appreciate the specific features of tourism products and services and the ways in which leisure and tourism businesses operate||KC|
|3||Analyse the decision-making process of leisure and tourism organisations||KC|
|4||Develop quantitative skills for economic analysis in demand forecasting and planning||PT|
|5||Conduct economic analysis to support the decision-making process of stakeholders in the leisure and tourism industry by using empirical data.||KCPT|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 117
Lecture Hours: 22
Tutorial Hours: 4
Laboratory Hours: 7
Methods of Teaching / Learning
The teaching and learning strategy is designed to:
- Provide students with key knowledge of leisure and tourism economics;
- Encourage students to critically apply the principles of economics in the context of the leisure and tourism industry;
- Develop students’ quantitative skills to analyse and interpret empirical data related to leisure and tourism economics to support management, marketing and policy decisions.
The teaching and learning 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.
- Guest lectures to enhance students’ understanding of the applications of economic theories in leisure and tourism practices.
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 2021/2 academic year.