Hospitality Economics focuses on applying economic principles to analyze the hospitality industry. You will learn how to use rigorous economic theories and models to analyze the functioning of the hospitality industry and its current trends. We will focus on micro-foundations and analyze the impact of the hospitality industry on the aggregate economy.
|Week 1||Economic fundamentals
Introduction to Micro economics
The Hospitality Industry
|Week 2||Microeconomics and the hospitality industry
|Week 3||Macroeconomics and the hospitality industry
Good markets and Fiscal Policy
Financial markets and Monetary Policy
|Week 4||Empirical analysis|
|Week 5||Final assessment|
The hospitality industry is a cyclical business characterized by imbalances between supply and demand. Dealing with sudden situations of growth, stagnation and decline demands flexible managerial skills and competences.
The ability for managers to react to performance shortfalls and crisis situations is critical in the hospitality industry. This program covers theories and practices on turnarounds and change management.