Tourism Economics

Year
0
Academic year
2018-2019
Code
01011214
Subject Area
Área Científica do Menor
Language of Instruction
Portuguese
Mode of Delivery
Face-to-face
Duration
SEMESTRIAL
ECTS Credits
6.0
Type
Elective
Level
1st Cycle Studies

Recommended Prerequisites

Not applicable.

Teaching Methods

In order to consolidate fundamental concepts some classes are problem-solving. Students analyze and present scientific papers selected, on an annually basis, by the teaching team. These classes foster the contact with recent research, stimulating students’ communication skills.

The assessment is periodic, including:

i) an intermediate test to assess the degree of assimilation of fundamental concepts and the ability to solve practical exercises.

ii) individual and group tasks related to the set of selected scientific papers.

Learning Outcomes

Overall objective: to understand the conceptual framework of economic analysis by relating it to the tourism and leisure industry.

Learning outcomes:

- understand and interpret basic concepts of economics;

- apply economic concepts and calculate economic indicators;

- identify and describe in economic terms the components of the tourism market;

- analyze the impact on the market equilibrium resulting from changes in the determinants of demand and supply;

- understand the fundamentals of State intervention in the economy;

- explain the contribution of tourism to the balance of payments and the significance of exchange rates for tourism;

- describe and explain the potential economic impacts of tourism.

Development of the following generic competencies:

-capacity of analysis and synthesis;

- ability to orally and written communication;

- ability to work in groups;

-ability to apply knowledge in practice.

Work Placement(s)

No

Syllabus

1 - Basic economic concepts

2 - Economic indicators: meaning, measurement and representation

3. Demand, supply and price

3.1 Demand: Concept and determinants. The law of demand. The demand curve. Classification of goods.

3.2 Supply: concepts and determinants. Fixed and variable factors of production. The supply curve. Costs.

3.3 The determination of price in competitive and non-competitive markets.

3.4 The concept of elasticity. Demand elasticities. Supply elasticity.

3.5 The tourism market: demand and supply.

4. Rationale for government intervention in the economy.

4.1 The role of government in tourism.

4.2 Market failures.

4.3 Taxation: levels and structure of taxation.

5. External Environment and tourism

5.1The global economy: balance of payments and exchange rates.

5.2 Globalization: economic impact on tourism.

 5.3 The multiplier of tourism: a tourism satellite account.

Head Lecturer(s)

Luís Filipe Gens Moura Ramos

Assessment Methods

Continuous Assessment
Mini Tests: 15.0%
Team work – includes the analysis and presentation of a scientific paper and the presentation of an empirical report of annually defined themes: 35.0%
Frequency: 50.0%

Bibliography

The Economics of Recreation, Leisure and Tourism; John Tribe, 2011, 4th edition (últimaediçãodisponível | last available edition).

Economia; Paul Samuelson, William Nordhaus, McGraw-Hill, 2012, 19ª edição (última edição disponível |lastavailableedition).