Tourism and Hospitality Economics
Gold Coast, Australia
Area of Study
Economics, Hospitality and Tourism Management
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3 - 4
Recommended U.S. Quarter Units4.5 - 6
Hours & Credits
This subject focuses on how markets for tourism, hospitality and leisure services operate. Businesses in these sectors operate in competitive environments and managers are required to make decisions about investment in capital, people and marketing activities that require understanding of how market forces will impact their business. Topics include domestic and international market structure, principles of demand and supply for leisure services, impacts of government policy, impacts of exchange rates and trade agreements on tourism, tourism and regional economic development in advanced and developing countries, environmental economics and tourism.Learning Objectives1. Describe the nature of tourism and hospitality organisations and the characteristics of the markets in which they operate.2. Analyse the factors that affect demand for, and supply of, tourism and hospitality services.3. Evaluate the objectives of government policy in relation to tourism and hospitality and describe the nature of the policy instruments used.4. Describe the economic impacts of tourism and hospitality at national and regional levels and the role of the tourism and hospitality industries in the global economy.5. Evaluate the impact of globalisation on the tourism and hospitality industries.6. Describe the role of environmental resources in the leisure and tourism and industries and the nature of market failure in relation to these resources.