ECONOMIC POLICY OF TOURISM
The aim of the course is to introduce the student to the economy of tourism. They are analyzed the characteristics of the tourism sector, the economic choices of the tourists about the tourist destinations, the key companies operating in the tourism sector and the economic problems they face in producing the tourism product, the effects of tourism on the economy and development, the public intervention to mitigate the factors leading market failure.
The knowledge of the basic economics is required and then it is necessary to have passed Institutions of Economics.
Introduction to the Economics of Tourism: definitions of Tourism and Tourist, the heterogeneity and plurality of the Tourism Product, the measurement of Tourism . The Tourism Sector, National Accounting and the tourism sector , the Supply-Side Approach, the Demand-Side Approach, tourism within the National Accounting System. The Economics of Tourism Destinations, the destination as the core element of the Tourism System, the Pricing Policy of the destination, the evolution of the destination.
The Macroeconomics of Tourism: the Tourism Expenditure Multiplier, Tourism and Regional Development,
Tourism in Growth Models. The State Intervention and the Public Organization of Tourism, Public Goods and Public Bads in the Tourism Product, Externalities in the Tourism Product, The Public Intervention.
Sustainable Tourism , The Evolution of the Relationship Between Tourism and the Environment , The Carrying Capacity , Methods of Environmental Monitoring.
The Microeconomics of Tourism: The Consumer Theory applied to the Tourist, purchasing the Tourism Product , The choice of the Tourist as a Consumer, The Tourist who self-organizes the Holiday, The role of time in the Tourism Choice. The characteristics of the Tourism Product, New Products and New Markets,
Information in the Tourist’s Choice. Production in Tourism, the Taxonomy of Tourism Production, the Production and the Sale of Holidays: Tour Operators and Travel Agencies. The Supply of Tourism Services: Hospitality, Transport, Attractions. The Yield Management . The Tourism Markets, the structure of Tourism Markets, the differentiation of the Tourism Product, the Information Asymmetry in the Tourism Market, Search and Experience Goods in the Tourism Market. The Contracts in the Tourism Markets, the Insurance Contract in Tourism, the Contracts Regulating the Transactions Between Tourism Firms, Information Asymmetry in Incomplete Contracts: The Incentive Contracts.
Candela, Guido, Figini, Paolo, The Economics of Tourism Destinations, Springer Texts in Business and Economics, 2012
The final exam is written test with open questions