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TO5202 - Economic Decision-Making in the Hospitality Industry

Credit points: 3
Year: 2020
Student Contribution Band: Band 3
Administered by: College of Business, Law & Governance

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.

Subject Assessment

  • end of semester exam (35%)
  • other exams (35%)
  • project (30%).

Availabilities

Cairns, Internal, Study Period 2
Census Date 27-Aug-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 36 hours workshops/Seminars
  • assessment and self-directed study

JCU Singapore, Internal, Study Period 52
Census Date 06-Aug-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 36 hours workshops/Seminars
  • assessment and self-directed study

JCU Brisbane, Internal, Study Period 21
Census Date 09-Apr-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 36 hours workshops/Seminars
  • assessment and self-directed study

JCU Brisbane, Internal, Study Period 23
Census Date 03-Dec-2020
Workload expectations:

The student workload for this 3 credit point subject is approximately 130 hours.

  • 36 hours workshops/Seminars
  • assessment and self-directed study

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.