Course Topics
The course introduces and discusses the institutional framework, theoretical models and empirical findings of the sports economy. Special emphasis is placed on applying economic concepts to the sports industry and comparing the findings with results from other markets. The individual topics are: 1) Supply and demand in sport 2) Production 3) Market structures 4) Economics of sports teams 5) Monopoly and antitrust law 6) Strategic pricing 7) Major events in sport 8) Data and empirical analyses in sport

Teaching format
Lectures with a strong focus on discussion. Student presentations and discussion.

Educational objectives
Knowledge and understanding ECONOMY of corporate decisions in monopolies with regard to quality, quantity and prices of models of strategic interaction between companies in oligopolistic contexts the role of network externalities in the digital economy the strategies of vertical and horizontal differentiation of companies the strategies for maintaining a dominant position by a company the comparative advantages in the area of travel destinations price and quality strategies in the destination economic policy instruments to promote the development of destinations the basic principles of the theory of supply and demand the theory of pricing the role of artificial intelligence and algorithms in pricing mechanisms the role of the state in the economy the fundamentals of monetary economics the basics of tax policy and budget planning growth theory the theory of cooperative games and collusive behaviour sectoral analysis tools for the sports and events industry industrial policy instruments for the sports sector the impact of the organisation of sports events on regional economic growth the quality strategies of accommodation providers the pricing strategies of accommodation providers using strategic interaction models from game theory. the horizontal differentiation strategies of accommodation providers Incentives in the internal organisation of accommodation providers methods for the evaluation of external effects and public goods in the tourism and sports sector economic policy for sustainable tourism the concept of sustainability and its impact on regional development the economic systems of tourism and sports enterprises the determinants of co-operation and system building capacity between the different local tourism stakeholders. Ability to apply knowledge and understanding ECONOMICS Market analysis with the aim of selecting products and markets on which to focus business activities contextualised criteria for pricing Assessing the costs and benefits of maintaining a dominant position and choosing the most appropriate tools to achieve the objective Analysing the trade-off between price and product quality and understanding the criteria used to choose the appropriate level of quality for the context Ex-post analysis of the impact of economic policies, both in traditional contexts (with limited data) and in innovative contexts (with big data) Analysing the economic sustainability of current and future destinations Analyse the impact of public policies to increase the attractiveness of destinations Ability to argue like an economist, i.e. to apply the schemes and criteria typical of economic analysis Ability to understand the interaction between individual consumer and business decisions and market equilibrium Apply incentive theory to the relationship between incentives and consumer and business decisions Analyse the impact of different economic and fiscal policy decisions on the development of macro- and microeconomic variables Evaluate public policies to support elite sports federations and promote the organisation of events (from the perspective of policy makers) Evaluation of the factors determining the financial sustainability of sports federations and event organisers (from a management perspective) Development of economic models for the sustainable development of tourism in the local area Planning and evaluation of economic development processes in the tourism sector at macro and micro level Analysing the economic impact of economic policy measures for the tourism sector at local, regional and national level Development of a sustainable tourism development plan (from the perspective of political decision-makers) Development of economic models for sustainable tourism development at local level Critically analysing tourism policy instruments to promote local products and evaluating the effectiveness of the various instruments. Making judgements identify the main variables to be used when making decisions in complex situations; Analyse and critically report on information, experience and data to make appropriate business decisions; select the most appropriate quantitative and qualitative analytical tools to support decision making; find necessary additional information in databases, legal documents and scientific sources; find solutions by using logical reasoning and combining information and analytical tools Communication skills Graduates of the Bachelor's degree programme in Tourism, Sports and Event Management will develop communication and presentation skills in order to explain, argue and summarise the complex, interdisciplinary topics of the tourism, sports and event sector in a working environment. Achievement of this goal is assessed by means of written examinations, group work, assignments, presentations of case studies and projects as well as the final thesis. Learning skills The ability to seek out up-to-date information in order to keep abreast of changes in the service sector in general and in tourism, sports and event management in particular;

Assessment
Students present 1) Written examination 60 minutes (60%) 2) Individual presentation (40%) Non-participating students Written examination 100 minutes 1) Written examination 60 minutes (60%) (identical to the examination for students in attendance) 2) Extended examination 40 minutes (40%)

Evaluation criteria
Students present The assessment of the course is made up as follows: 1) Written exam (60 minutes) - 60 % of the final grade The written examination must be passed in order to pass the overall examination, regardless of individual additional achievements. The examination contains open questions and multiple-choice questions. Clarity, completeness and the accuracy of the answers are assessed. 2) Individual presentation - 40 % of the final grade The presentation is based on a research article selected by the lecturer or in consultation with the students. Non-participating students Non-participating students replace the presentation with an extended final examination. The additional part of the final examination comprises questions on a scientific research article, which is either selected by the lecturer or determined in consultation with the students. Non-participating students must contact the lecturer independently regarding the selection of the scientific research article. This must be done by 19 October at the latest. The same assessment ratio applies to non-participating students: 60% regular part of the final examination, 40% extended part of the final examination. The standard part of the written examination must be passed in order to pass the overall examination, regardless of performance in the extended part of the examination.