This curricular unit aims to understand the fundamental principles of tourism economics. The Tourism Economics Unit intends to approach the study of the tourism sector from the perspective of the economy, which allows students to understand the economic logic underlying the sector and to analyze the micro and macro effects of tourism on the economy.
Objectives and expected learning outcomes 1. Sensitize students to the concept of the tourism economy and the achievement of objectives in the sector; 2. Describe how the market works, namely tourism demand and supply and the balanced market situation; 3. Understand the tourism sector in the context of economic activity, through the calculation and analysis of the main macroeconomic variables (production, investment, employment, balance of payments, among others).
Skills to develop 1. Understand the problem of economic analysis of tourism. 2. Acquire knowledge in order to apply microeconomics and macroeconomics concepts to tourism. 3. Develop skills to identify and evaluate the components of tourism in economic terms (demand and supply). 4. Understand the potential economic impacts of tourism and the potential assessment methods.
Programme
I. Fundamental Principles of the Economy - Definition and basic principles of economics. - Scope of the Tourism Economy. - Main economic policies and medium-term objectives for the tourism sector II. Tourist demand - Concept and formation of tourist demand. - Tourist Utility. - Elasticity of tourist demand. - Tourist consumption. - Determinants of demand. III. The tourist offer - Concept, characteristics and classification. - Tourist destinations. - Tourist products. - Function of tourist production. - Elasticity of the tourist offer. IV. The balance - Characterization of the Marshallian cross. - The question of tourism prices. - Price determinants. V. Tourism as an economic activity - Integration of Tourism in global economic policy - National Accounting Applied to Tourism - National Product and Income - Consumption and social behavior - Tourism investments - Unemployment - Inflation - The balance of payments SAW. Economic evaluation of tourist resources - Economic evaluation techniques. The Tourism Satellite Account (TSA) - The application and practical examples about TSA.
Demonstration of the syllabus coherence with the curricular unit's learning objectives
The 1st objective "To make students aware of the concept of tourism economics and the achievement of objectives in the sector" is addressed in chapter 1 of the program, where the main economic concepts, policies and objectives are identified. The 2nd objective: Describe how the market works, namely tourism demand and supply and the balanced market situation is developed in chapters 2, 3 and 4, which characterize market forces, demand and supply, and the market in balance. Finally, the 3rd objective: Understanding the tourism sector in the context of economic activity, through the calculation and analysis of the main macroeconomic variables (production, investment, employment, balance of payments, among others) is developed in chapters 5 and 6; in the 5th chapter, the main macroeconomic variables are explained, while in the 6th, the main economic evaluation techniques are presented.
Main literature
Tribe, J.;The Economics of Recreation, Leisure and Tourism, , Routledge, 2020
Fernandes, A., Pereira, E., Bento, J., Madaleno, M. & Robaina, M. ;Introdução à economia, Edições Sílabo, 2021
Supplementary Bibliography
Mankiw,N.;Principles of Economics, Cengage Learning, 2015. ISBN: 9781285165875
Carvalho,L.;Microeconomia e Macroeconomia, Edições Silabo, 2014. ISBN: 9789726187738
Licinio Cunha ;Economia e Política do Turismo, Lidel, 2016
Learning Methods
The contents of this curricular unit will be exposed mainly in theoretical-practical classes, which combine the theoretical exposition with the discussion of practical cases and the resolution of application exercises. To this end, means of computer support will be used, namely the Microsoft PowerPoint software, for presentation of the programmatic contents, and software and Microsoft Excel for resorting to analysis of statistical data tables and the construction of exemplary graphic representations. In the course of classes, students will always be encouraged to have a proactive attitude of critical participation about the exposed content and to present current issues for debate.
Continuous evaluation:
Two individual written tests with a weight of 40% each.
Individual work with submission and creation of an individual report to be carried out online with a weighting of 20%.
Final evaluation:
Individual written test with a weight of 100%.
Assessment Components
Avaliação distribuída com exame final
Assessment Components
Description
Type
Time (hours)
Conclusion Date
Attendance (estimated)
Lessons
45
Study
112
Teste/Exame
3
Total:
160
Demonstration of the coherence between the teaching methodologies and the learning outcomes
The first objective presupposes the use of the Microsoft PowerPoint program for the presentation of theoretical content. The 2nd and 3rd objectives combine the theoretical exposition of slides from the same software, with exercises in the classroom, through worksheets made available to students a priori in "pdf" format, development of a street action through the realization of questionnaires in order to obtain primary data for carrying out scientific work and analysis of working documents. In addition to the analysis and treatment of data, the Microsoft Excel program is used.