ECON2005
10 units
2000 level
Course handbook
Description
Sport and entertainment has become a multi-billion-dollar industry across the world, including the Hunter region, which is very passionate about its sports and teams. Students will gain an opportunity to apply basic economic processes to the world of professional sports. They not only analyse sport as big business, but also look at finance, market structures, public policy and globalisation. Students will combine their understanding of economics to the field of sports. Blending together economic theory and applying it to the professional sport market, students gain a range of transferable skills that can be used from government and tourism to statistical analysis of labour markets.
Availability
Not currently offered.
This Course was last offered in Semester 2 - 2020.
Learning outcomes
On successful completion of the course students will be able to:
1. Provide detailed knowledge of the content of the particular topic area
2. Demonstrate an advanced and integrated understanding of economic concepts relative to the area of sport
3. Use specialised cognitive skills to communicate in oral and written form
4. Examine the 'peculiar' characteristics of sports markets and the policy conclusions that follow
5. Analyse the role economic incentives play in determining the behaviour of controlling bodies, leagues, clubs, players, fans, sponsors, the media and government
6. Use economic analysis to understand how appropriate policies could be formulated to address economic problems in the sports industry
Content
The content in this course includes the following topics:
- Review of Economic Concepts
- Industrial Organisation of Sport
- Franchises
- Profit Maximisation
- Public Finance of Sport
- Labor Economics in Sport
- Not-for-Profit Sport
- Sportometrics
Assessment items
In Term Test: Concepts Exam
Proposal / Plan: Draft Outline
Written Assignment: Research Assignment
Formal Examination: Formal Exam
Course outline
Course outline not yet available.
The University of Newcastle acknowledges the traditional custodians of the lands within our footprint areas: Awabakal, Darkinjung, Biripai, Worimi, Wonnarua, and Eora Nations. We also pay respect to the wisdom of our Elders past and present.