HOMT 324 - Economics of Tourism

(3 hours) Prerequisite: HOMT 323. This course uses contemporary economic analysis to help students understand the fundamental financial basis of tourism industry. The course will communicate how to understand tourism market behavior as measured through fundamental and applied business economic principles. Business models and strategies will provide a detailed picture of the impact on the overall industry. A clear explanation of revenue management is also included. With a focus on basic economic principles, the course shows how elementary supply and demand analysis can be used to understand the broad changes in tourism over many centuries and today.