TO5202 - Economic Decision-Making in the Hospitality Industry

Credit points:	03
Year:	2007
Student Contribution Band:	Band 2
Administered by:	School of Business

This subject provides an overview of economic change in the hospitality industry. Over a period of time economic forces have resulted in a gradual concentration of large global and national corporations in the market. However, the small to medium-sized sector remains viable with many entrepreneurs surviving and succeeding despite the prevailing economic climate. This subject provides students with a range of economic concepts and techniques to enable an understanding of economic fluctuations and trends and their impact on the firm. The content is broadly divided into areas of basic economic approaches and the hospitality market; broad economic structures and trends; and competition and hospitality business development.

Learning Outcomes

• understand the economic structure and trends of the hospitality sector and their impact on organizations;
• understand the process of production in the hospitality industry;
• apply a range of economic analyses upon which decisions can be made;
• understand the nature of economic decision-making.

Graduate Qualities

• The ability to adapt knowledge to new situations;
• The ability to define and to solve problems in at least one discipline area;
• The ability to think critically, to analyse and evaluate claims, evidence and arguments, and to reason and deploy evidence clearly and logically;
• The acquisition of coherent and disciplined sets of skills, knowledge, values and professional ethics from at least one discipline area;
• The ability to generate, calculate, interpret and communicate numerical information in ways appropriate to a given discipline or discourse.

Availabilities
JCU Brisbane, Internal, Study Period 22
Census Date 31-Aug-2007
Coordinator:	Assoc. Professor Darren Lee-Ross
Contact hours:	39 hours workshops/Seminars
Assessment:	end of semester exam (40%); presentations (30%); assignments (30%).
Special Assessment Requirements:	Nil
JCU Brisbane, Internal, Study Period 23
Census Date 14-Dec-2007
Coordinator:	Assoc. Professor Darren Lee-Ross
Contact hours:	39 hours workshops/Seminars
Assessment:	end of semester exam (40%); presentations (30%); assignments (30%).
Special Assessment Requirements:	Nil

Note: Minor variations might occur due to the continuous Subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.