Economics
Code: 103738Credits: 6
| Degree programme | Type | Course |
|---|---|---|
| Hotel Management | FB | 1 |
Contact lecturer
- Name :
- Albert Vancells Farraró
- Email :
- albert.vancells@uab.cat
Teaching staff
- Ferran Armada Ramírez
Group languages
You can consult this information at the end of the document.
Prerequisites
There are no prerequisites
Objectives
This course aims to offer students of the first year of the Degree in Hotel Management the tools and basic concepts used in the field of economics, with particular attention to their application for the analysis of the Tourism Sector. Concepts related to Offer, Demand, Markets, Economic Policies, Inflation or Statistics will be considered.
The course places special emphasis on two issues: firstly, the student must use the vocabulary and economic language with correctness and precision, dominating the meaning of the most relevant concepts related to the economic reality that surrounds us. Finally, the analysis of examples and the confrontation of knowledge with the real world are prioritized.
The basic training objective is to provide students with knowledge of the basic concepts of economic theory, both in microeconomics and macroeconomics. Learning will be geared towards providing students with the knowledge that will allow them to know and interpret the economic aspects that will surround their subsequent degree courses, but also in their professional future.
Learning outcomes
- CM07 (Interpret the patterns of Spanish tourism and hotel development, its institutional framework and the evolution of the market.) Interpret the patterns of Spanish tourism and hotel development, its institutional framework and the evolution of the market.
- CM08 (Integrate economic concepts into hotel and restaurant projects.) Integrate economic concepts into hotel and restaurant projects.
- KM06 (Identify the theoretical and conceptual basis of tourism economic analysis, both from the microeconomic and macroeconomic aspects.) Identify the theoretical and conceptual basis of tourism economic analysis, both from the microeconomic and macroeconomic aspects.
- KM07 (Describe tourism demand and supply, economic cycles and growth, as well as the sector's international economic relations.) Describe tourism demand and supply, economic cycles and growth, as well as the sector's international economic relations.
- KM08 (Identify the general economic situation in order to establish general policies for action in the sector.) Identify the general economic situation in order to establish general policies for action in the sector.
- SM09 (Differentiate the balancing effects of different competition regimes in the sector.) Differentiate the balancing effects of different competition regimes in the sector.
- SM10 (Interpret the impact of government tax activity on the hotel sector.) Interpret the impact of government tax activity on the hotel sector.
- SM11 (To analyse the economic dimension of tourism through the analysis of tourism demand and supply, markets and economic cycles, among other elements.) To analyse the economic dimension of tourism through the analysis of tourism demand and supply, markets and economic cycles, among other elements.
Contents
Topic 1: Introduction to Economics
Concept of economics: scarcity and choice. Economic agents. The Production Possibility Frontier. Opportunity cost. Factors of production. Macroeconomics and Microeconomics. Economic systems. The economy of tourism. Economic Sectors: Agriculture, Industry, and Services.
Topic 2: Microeconomics (I): Consumer Theory
Consumer decision. Individual Demands and Indifference Curves. Income Effect and Substitution Effect. Laws of Supply and Demand. Factors of Demand and Supply. International tourism demand, in Spain and Catalonia.
Topic 3: Microeconomics (II): Theory of the Firm
Production, the cost of production, and profit maximization. Factors of production (L, K). Evolution of international and Spanish tourism supply. Indicator of supply.
Topic 4: Microeconomics (III): Markets.
Analysis of competitive and non-competitive markets. Market power and types of markets. Application to the tourism sector.
Topic 5: Macroeconomics (I): Macromagnitudes.
GDP and disposable income. Balance of payments. Aggregate Output and Income. Inflation. Employment. Exchange rates. Interest rates. Public deficit. External sector. Calculations of rates and indices. Macroeconomic values of the tourism sector.
Topic 6: Macroeconomics (II): Money, financial system, and inflation.
Economic policy. Function of money. Causes and effects of inflation. Taxes and tariffs. Tourist taxes and inflation. Economic impacts of tourism.
Topic 7: Macroeconomics (III): Labor market.
Unemployment. Main problems of the Spanish and Catalan labor market, productivity, qualifications, temporariness. The problem of seasonality.
Learning activities and methodology
| Title | Hours | ECTS | Learning outcomes |
|---|---|---|---|
| Tutorials | 22 | 0.88 | SM09 |
| Self-study | 50 | 2 | CM07, SM09, SM10, SM11 |
| Theory | 44 | 1.76 | CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11 |
| Works | 15 | 0.6 | CM07, KM06, KM07, SM09, SM11 |
Language: catalan
Every topic will be introduced by the teacher and the students will prepare every topic's point.
Given the practical application, it will be several practices.
On the other hand, the material subject to the sessions will be complemented by the distribution oof compulsory readings, wich will serve not only as a foundation of knowledge but also to promote the reading of subjects.
A paper must be prepared on a topic in the field of microeconomics or macroeconomics.
Assessment
Continuous assessment activities
| Title | Weight | Hours | ECTS | Learning outcomes |
|---|---|---|---|---|
| Exam 2 | 30 | 2 | 0.08 | CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11 |
| Individual works | 20 | 7 | 0.28 | CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11 |
| Exam 1 | 30 | 2 | 0.08 | CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11 |
| Group work | 20 | 8 | 0.32 | CM07, CM08, KM06, KM07, KM08, SM09, SM10, SM11 |
Bologna process encourages continuous assessment of students, so it is recommended that students follow the continuous evaluation of this subject. However, the final exam in January is still offered for those students who have not passed the continuous assessment or those who have not followed the continuous assessment.
The continuous assessment of this subject will be done in the following way:
- There will be 2 partial exams. An exam at the end of topic 4 and the other at finalizing the subject 7. These exams will be 30% and 30% of the mark.
- A group work. This work must be submitted in writing and orally. This work will be 20% of the note.
- The remaining 20% of the note will leave the activities and participation of the students. As for example delivery of exercises or practical cases.
The only evaluation will be for those who has expressed this option in the period defined by the Administrative Calendar:
The single evaluationwill consist of:
A final exam of the entire coursesyllabus.
Presentation of 4 practical exercises (individually).
Delivery of the course work (individually).
Not to present one of these activities conducts to a \"Non assessable\"
The grade for the subject will be NOT EVALUABLE when the student attends less than half of the assessment activities and/or does not attend the final exam.
Bibliography
BASIC
Krugman, P (2020): "Essential of economics" Ed. Macmillan
Mankiw, N. (2018): Principles of Economics Ed. Thomson, Cengage Learning
Mochón, F. (2010) :”Principios de economía” McGraw Hill 4ª edición https://bibcercador.uab.cat/permalink/34CSUC_UAB/1c3utr0/cdi_askewsholts_vlebooks_9788448192976
Ramón, Ana. & Such, María Jesús. (2022): "La economía del turismo" UAH 1ª edición
Reece, W. (2009):"The economics of Tourism". Pearson
Tribe, J. (2013). The Economics of Recreation, Leisure and Tourism. Oxford, Ed. Elsevier (4th Edition)
COMPLEMENTARY RECENT YEARS
Alegre, J., M. Cladera i C. Juaneda, (2003), Análisis Cuantitativo de la Actividad Turística, ed. Pirámide, Madrid.
Blanchard, O (2009): “Macroeconomía", Pearson Prencite Hall. Madrid
Casado, Elena (Coord) (2022): "Economía Internacional Y turismo". UNED
Mochón, F (2008): Economía y Turismo, McGraw-Hill
Tribe, J., (2000), Economía del ocio y el Turismo, Ed. Síntesis
Uriel, E., (2001), El Sector Turístico en España., Ed. Caja de Ahorros del Mediterráneo (CAM).
COMPLEMENTARY
Bull, A., (1995), La economía del sector turístico, ed: Alianza Economía, Madrid
Figuerola, M., (1992), Manual de Economía Turística, Organización Mundial de Turismo
Lorenzo, M., J. Calvo i R. Osuna, (2003), Economia del Turismo, ed. CERA. Madrid
Mochón, F., (1994), Economía. Teoría y Política, McGraw-Hill.
Pedreño, A. i V. Monfort (coord), (1996), Introducción a la economia del turismo en España, Civitas.
Rivas, J., (2003), Estructura y Economía del Mercado Turístico, Ed: Septem, Oviedo
Samuelson, P. i W. Nordhaus, (1999), Economia, McGraw-Hill
Vallés, J., (coord), (1997), Economía Española, McGraw-Hill
Software
This subject allows the use of AI technologies exclusively for support tasks such as bibliographic or content-based searches and text correction or translations.
The student must clearly (i) identify which parts have been generated using AI technology; (ii) specify the tools used; and (iii) include a critical reflection on how these have influenced the process and outcome of the activity.
Lack of transparency regarding the use of AI in the assessed activity will be considered academic dishonesty; the corresponding grade may be lowered, or the work may even be awarded a zero. In cases of greater infringement, more serious action may be taken.
Course groups and languages
The information provided is provisional until November 30. After this date, you will be able to consult the language of each group through this link. To access the information, you will need to enter the course CODE
| Type of teaching | Group | Language | Semester | Shift |
|---|---|---|---|---|
| (TE) Theory | 1 | Catalan/Spanish | first semester | morning-mixed |