Course Title: Economics for Tourism and Hospitality

Part A: Course Overview

Course Title: Economics for Tourism and Hospitality

Credit Points: 12.00

Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

ECON1318

RMIT University Vietnam

Undergraduate

830H The Business School

Face-to-Face

 Viet3 2017,
Viet1 2018,
Viet1 2019,
Viet3 2019,
Viet2 2020,
Viet1 2021,
Viet3 2021,
Viet2 2022,
Viet1 2023,
Viet3 2023,
Viet2 2024,
Viet1 2025

ECON1318

RMIT University Vietnam

Undergraduate

830H The Business School

Face-to-Face or Internet

 Viet3 2018

ECON1336

RMIT Vietnam Hanoi Campus

Undergraduate

830H The Business School

Face-to-Face

 Viet3 2019,
Viet2 2020,
Viet1 2021,
Viet3 2021,
Viet2 2022,
Viet1 2023,
Viet3 2023,
Viet2 2024

Course Coordinator: Nuno Ribeiro

Course Coordinator Phone: +84 3776 1300

Course Coordinator Email: nuno.ribeiro@rmit.edu.vn

Course Coordinator Location: Saigon South Campus

Course Coordinator Availability: By appointment via email


Pre-requisite Courses and Assumed Knowledge and Capabilities

None


Course Description

This course will provide an introduction to the principles of economics, from the perspective of their relevance to the tourism and hospitality industry. The topics covered include microeconomics and macroeconomics (such as the principles of demand and supply for tourism and hospitality services), domestic and international market structures, economic growth and business cycles, the influence of government policy, money and exchange rates, trade policy and agreements in the tourism and hospitality sector, and regional and international economic development.


Objectives/Learning Outcomes/Capability Development

This course is designed to meet Program Learning Outcomes 2, 3, 5, 6, 7 as stated as follows.

  • PLO2 -Apply analytical and quantitative skills to formulate business decisions related to tourism and hospitality management.
  • PLO3 - Evaluate and apply leadership theory and practices to diverse management scenarios in the tourism and hospitality industry.
  • PLO5 - Reflect on performance management systems to identify and action strategies for the management of people within the tourism and hospitality industry.
  • PLO6 - Communicate clearly and persuasively to negotiate, consult, and engage with clients, employees and other stakeholders within the tourism and hospitality industry
  • PLO7 - Formulate innovative options and recommendations for sustainable business practices within the tourism and hospitality industry


On completion of this course you should be able to:

  • CLO1 – Describe the principles of demand and supply in the tourism and hospitality industry;
  • CLO2 - Describe the domestic and international market structure;
  • CLO3 - Analyse the domestic and international market structural;
  • CLO4 - Explain the economic growth and business cycles; 
  • CLO5 - Evaluate the objective and influence of government policy, money, exchange rates and trade policy and agreements in the tourism sector; and
  • CLO6 - Describe the economic impacts and development of tourism and hospitality at the regional and international levels.


Overview of Learning Activities

This course will utilise a range of learning activities, including face-to-face lectures and equivalent online activities, small group work activities/online discussion boards, and guest speaker presentations.
You will undertake a number of assessment tasks related to these experiences and receive feedback.


Overview of Learning Resources

As an enrolled student of RMIT University you will be provided with access via the internet to the RMIT Library databases and online facilities. If you require assistance with the RMIT library facilities the first person to contact is the Business Liaison Librarian for this school. Contact details for Business Liaison Librarians are located online on the RMIT library website.


Additional industry-based resources may be available to you depending on the nature of your placement.


Overview of Assessment

Assessment Tasks WeightingLinked Learning Outcomes
Assessment Task 1 30%  1, 2
Assessment Task 2  20%   1, 2
Assessment Task 3  50%  3, 4, 5, 6