Economics in Tourism

Course Description
As its name indicates, the course consists of an introduction to economics, including fundamental elements of tourism economics.

This introduction attempts to provide an approach to the most important elements of economics and tourism for students who are beginning their education in the field of tourism. The course's set of topics includes aspects such as the main objectives of economic policies, i.e., price stability, full employment, economic growth, external balance, etc. We will also touch on topics such as the economic role of public administrations, state budgets, monetary policy, etc.

All of these topics are related to tourism and we will try do determine what the possible impact of economic aspects on tourism could be and, at the same time, how tourism can contribute to achieving goals such as full employment or economic growth or healing the environment.

Finally, we will discuss issues related to tourism-specific factors: what determines supply and demand for tourism services, how tourism prices are set, characteristics of tourism companies, and more.

GENERAL SKILLS
Team work.
Encourage a critical spirit.
Public speaking, conveying information, ideas, and problems.
Sustainability (ability to evaluate the social and
environmental impact of actions in the field/
ability to express integrated and systematic visions).

SPECIFIC SKILLS
Understand the main principles that guide a market economy.

Analyze the importance of tourism in the Spanish and Catalan economies and understand
our strengths and weaknesses to be able to predict the trends in our tourism in the coming years.

Understand the role that Public Administrations play in a modern mixed economy and their
influence on tourism.

Analyze the basic contents of general economic policies and those specific to tourism.

Know the main indicators and statistical sources to obtain general and tourist economic
information and know how to interpret said information.

Understand the international dimension of modern economies (globalization), as well as
international tourism determinants.

Analyze the varying roles that are played by the agents that participate in a modern
economy, especially from the point of view of the tourism sector (producers, consumers,
public sector, rest of world).

Be able to read and interpret economic press and arouse the student's interest in being up
to date on economic news.

Understand the importance of international financial markets and how they work and their
effect on tourism.

Analyze the particular issues of the labor market and associated problems (especially
unemployment). Understand the relationship between the labor market and tourism and
also be aware of the role of human resources in tourism companies.

LEARNING OBJECTIVES
- Team work:

• The student should know how to perform shared tasks and how to bring together the contributions from all members of the group. Take responsibility for what the entire group does.

- Encourage a critical spirit:

• The student should be able to see the various alternatives that arise when analyzing a complex issue and be able to choose among them after analyzing the alternatives.

- Public speaking, conveying information, ideas, and problems:

• The student should know how to express his or her ideas and actions in front of an audience, as well as explain the reasons for choosing certain alternatives.

- Sustainability (ability to evaluate the social and environmental impact of actions in the field/ ability to express integrated and systematic visions):

• The student should be aware of the scarcity of natural resources and of the fact that all growth processes have effects on the environment.

- Understand the main principles that guide a market economy:

• The student should understand the basic operating mechanisms of a developed capitalist economy.

- Analyze the importance of tourism in the Spanish and Catalan economies and understand our strengths and weaknesses to be able to predict the trends in our tourism in the coming years:

• The student should understand the reciprocal effects between tourism and the economy and recognize the main trends in our economy and our tourism.

- Understand the role that Public Administrations play in a modern mixed economy and their influence on tourism:

• The student should understand the role that different public administrations play in a modern economy, in general terms and especially in the field of tourism.

- Analyze the basic contents of general economic policies and those specific to tourism:

• The student should know how to interpret economic policy, its actors and what can be expected from said policy. The same for tourism policy.

- Know the main indicators and statistical sources to obtain general and tourist economic information and know how to interpret said information:

• The student should know how to find and interpret economic, statistical and other information, especially as it relates to tourism.

- Understand the international dimension of modern economies (globalization), as well as international tourism determinants:

• National economies do not operate independently. The student should understand the economic interrelations (commercial and financial) between countries and companies, with particular emphasis on tourism.

- Analyze the varying roles that are played by the agents that participate in a modern economy, especially from the point of view of the tourism sector (producers, consumers, public sector, rest of world):

• The student should know the agents that play a role in the economy and in the tourism sector, and the mechanisms that serve to defend their interests.

- Be able to read and interpret economic press and arouse the student's interest in being up to date on economic news:

• The student should be aware of the immediate economic reality and read specialized press (printed, radio, television and Internet).

- Understand the importance of international financial markets and how they work and their effect on tourism:

• The student should know how to evaluate the importance of financial markets to the economy as a whole. And within markets, the operation of the stock exchange. He or she should be especially aware of features that should be applied to the financing of tourism activity (both to the supply and demand).

- Analyze the particular issues of the labor market and associated problems (especially unemployment). Understand the relationship between the labor market and tourism and also be aware of the role of human resources in tourism companies:

• The student should be able to evaluate the labor market's situation and what can be done to alleviate its problems, as well as evaluate its effect on the tourism market.

 

LEARNING METHODOLOGY
The learning strategies employed are mainly aimed at the student developing the abilities associated with the skills identified. Below we specify the teaching-learning methodologies which will be applied to achieve the skills to be gained, as well as specifying how they will be developed:
- Theory: master classes, lectures, group projects.
- Theoretical-practical: application activities, problem-based learning, problem solving, practical exercises, research.
- Presentations: presentations of results. This will allow the student to receive feedback on how to improve his or her oral communication techniques and become accustomed to using information technology.

EVALUATION SYSTEM
The tools used to evaluate the course are those which allow us to assess the course's contents in both a theoretical and practical way; such as objective tests, development tests, individual projects, group projects, in-class activities, oral presentations using IT, virtual forums, portfolios, practical cases, problem solving, etc.