Course overview
- Study period
- Semester 2, 2024 (22/07/2024 - 18/11/2024)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Business School
This course introduces foundation economic concepts as they apply to the broader tourism sector which includes the hospitality and event industries. Adopting a macro perspective, the course examines demand and supply, market structures, the influence of economic change on the sector, and the role of the tourism, hospitality and event industries in the economy. Economic concepts that apply to the tourism sector are explored including economic impact assessment and environmental economics.
This course is a foundation for your future career in the private or public sector, where an understanding of economics is essential for effective tourism business or policy management. The course will develop your capability in using selected economic concepts and analysis approaches, applied to tourism. The first part of the course delivers fundamental principles and concepts, such asﾠthe forces of demand and supply, market structures and the issues of externalities and public goods. The second part of the course deals with theﾠinfluence of economic change on tourism and the role of tourism in the economy.ﾠThis section coversﾠsome useful concepts and tools, including economicﾠcontributions of tourism, cost benefit analysis andﾠenvironmental economics. Various examples will be used to demonstrate how economic concepts and principles are applied to tourism.
Course requirements
Assumed background
It is assumed that students have no prior experience with the discipline of economics.
Incompatible
You can't enrol in this course if you've already completed the following:
TOUR2010
Course contact
Course staff
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Please note: Teaching staff doﾠnotﾠhave access to the timetabling system to help with class allocation. Therefore, should you need help with your timetable and/or allocation of classes, please ensure you email business.mytimetable@uq.edu.au from your UQ student email account with the following details:
Full name
Student ID
Course Code
Aims and outcomes
This course aims to introduce students to the key concepts of economics as a basis for tourism management and decision making.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Understand key economic principles as they apply to the tourism sector, including hospitality and events industries
LO2.
Analyse the options available to tourism, hospitality and event organisations under different market structures
LO3.
Evaluate the effects of economic conditions and change on tourism, hospitality and event sectors
LO4.
Interpret the economic contribution and impact of tourism, hospitality and event activities to the broader economy
LO5.
Communicate evidenced based arguments and strategic recommendations to stakeholders through teamwork
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Performance |
Test bank exercises
|
20% Individual |
29/07/2024 - 6/10/2024
Weekly from Week 2 to Week 10. |
| Examination |
In-Semester Examination
|
40% Individual |
30/09/2024 2:00 pm
During the lecture time in Week 10. |
| Presentation |
Tourism industry economic presentation
|
40% Team |
22/10/2024 - 24/10/2024
At tutorials during Week 13 |
Assessment details
Test bank exercises
- Online
- Mode
- Written
- Category
- Performance
- Weight
- 20% Individual
- Due date
29/07/2024 - 6/10/2024
Weekly from Week 2 to Week 10.
Task description
The test-bank exercises, consisting of 8 chapters, are designed to assist students with self-practice and self-learning. Students can choose which chapters they want to complete and submit. Multiple attempts per chapter are allowed.
Students will be awarded 4 points upon completing one chapter (provided more than 80% of the questions have been answered correctly). A maximum of 20 points for this assessment in the final grade is awarded if students complete at least five chapters throughout the semester.
A test bank, consisting of practical questions that integrate economic concepts and tourism issues, is adopted to assist students with self-practice and self-learning. It includes (1) basic questions that allow students to better comprehend the theory and concepts, and (2) advanced applied questions that discuss the impacts of COVID-19, sustainability, and global mega trends on tourism, businesses, and policies.
Students need to engage with the test bank weekly, starting from week 2 to week 10. Each weekly test bank, consisting of 10 multiple-choice questions and two to three open-ended questions, is designed to align with the lecture taught that week. This allows students to review the concepts and test their knowledge by working with the questions. Correct answers will be provided once students submit theirs.
AI Statement
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI) or Machine Translation (MT). Students are advised that the use of AI or MT technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Please see BB for details
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
In-Semester Examination
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 40% Individual
- Due date
30/09/2024 2:00 pm
During the lecture time in Week 10.
- Other conditions
- Time limited.
Task description
The mid-semester exam is scheduled for week 10, including 10-15 multiple-choice questions and 4-5 open-ended questions. It is an in-person exam scheduled during the lecture time (12 pm - 2 pm). The exam will be invigilated by the lecturer and two tutors.
AI Statement
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) or Machine Translation (MT) tools will not be permitted. Any attempted use of AI or MT may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | no planning time minutes |
|---|---|
| Duration | 90 minutes |
| Calculator options | Any calculator permitted |
| Open/closed book | Open Book examination |
| Materials | No electronic resources on computers or smartphones are allowed |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Please follow the guidelines on BB.
Deferral or extension
You may be able to defer this exam.
Tourism industry economic presentation
- Team or group-based
- In-person
- Mode
- Oral
- Category
- Presentation
- Weight
- 40% Team
- Due date
22/10/2024 - 24/10/2024
At tutorials during Week 13
- Other conditions
- Peer assessed.
Task description
This project requires students to work as a team to apply economic principles to a practical tourism issue. It assesses (1) how much they have learned from the economic concepts and (2) their ability to apply them in addressing issues. This is a significant project and requires substantial work to deliver a satisfying output.
A speaker will present a talk on group dynamics, team appreciation, and conflict resolution prior to the presentation. Peer evaluation will be used to assess the relative contribution of each member at the end of the semester.
AI Statement
Artificial Intelligence (AI) and Machine Translation (MT) are emerging tools that may support students in completing this assessment task. Students may appropriately use AI and/or MT in completing this assessment task. Students must clearly reference any use of AI or MT in each instance.
A failure to reference generative AI or MT use may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Please follow the guidelines on BB.
Deferral or extension
You may be able to apply for an extension.
The maximum extension allowed is 7 days. Extensions are given in multiples of 24 hours.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0 - 29 |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30 - 46 |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47 - 49 |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50 - 64 |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65 - 74 |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75 - 84 |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85 - 100 |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
Grades will be allocated according to University-wide standards of criterion-based assessment.
Supplementary assessment
Supplementary assessment is available for this course.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Additional learning resources information
Learn (Blackboard)
All courses are supported by the UQ Learning Management System, Blackboard Learn, which provides an interactive environment for the students and teachers. This is accessible via PC or Mac or Mobile (Apps) environment.
To log on to Blackboard, go to https://learn.uq.edu.au.
- As Blackboard is a web‐based application, you will need a recently‐released browser for your computer. For the latest Release Notes for Bb Student, see http://en-gb.help.blackboard.com/Bb_Student/z_Release_Notes_Bb_Student.
- For help with Learn.UQ (Blackboard), see https://web.library.uq.edu.au/library-services/it/learnuq-blackboard-help/learnuq-blackboard-contacts or contact AskUs https://web.library.uq.edu.au/contact-us or telephone 334 64312.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Tutorial |
No tutorials |
|
Week 1 |
Lecture |
Introduction to economics and tourism Explain the syllabus and walk through the basic definition of economics |
Week 2 |
Lecture |
The tourism market and products Explain the key characteristics of tourism markets |
Tutorial |
Introduction to assessments Discuss assessments and requirements |
|
Week 3 |
Lecture |
Demand concepts Explain the demand curve and factors that shift demand curve |
Tutorial |
Demand concepts |
|
Week 4 |
Lecture |
Supply concepts Explain the supply curve and factors that influence supply. |
Tutorial |
Supply concepts Royal Queensland Show Public Holiday - Wednesday 14 Aug 2024 - Check Blackboard for announcements about affected classes. |
|
Week 5 |
Lecture |
Market equilibrium Explain how market forces determine price and quantity |
Tutorial |
Market equilibrium |
|
Week 6 |
Lecture |
Market structure Explain the four market structures and the strategies |
Tutorial |
Market structure |
|
Week 7 |
Lecture |
Economic impact of tourism Explain how tourism impacts a destination via different mechanisms. |
Tutorial |
Economic impact of tourism |
|
Week 8 |
Lecture |
Economic assessment of events Explain tools for assessing the value of events |
Tutorial |
Economic assessment of events Group presentation |
|
Week 9 |
Lecture |
Environmental impact of tourism |
Tutorial |
Environmental impact of tourism Group Presentation |
|
Mid Sem break |
Lecture |
In-semester break |
Tutorial |
In-semester break |
|
Week 10 |
Lecture |
In-class exam |
Tutorial |
Assignment 3 discussion and consultation |
|
Week 11 |
Lecture |
No class - pulic holiday Explain the definition of sustainability and economic interventions. King's Birthday Public Holiday - Monday 7 Oct 2024 - Check Blackboard for announcements about affected classes. |
Tutorial |
Sustainability |
|
Week 12 |
Lecture |
Sustainability |
Tutorial |
Sustainability |
|
Week 13 |
Lecture |
Course review & summary Provide a summary of all topics covered in the semester. |
Tutorial |
Group presentation (Assignment 3) Consultation for the individual assessment |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.
School guidelines
Your school has additional guidelines you'll need to follow for this course:
- Business School site
- Exams and assessment advice
- Program and course advice