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TO5202 - Economic Decision-Making in the Hospitality Industry

[Offered in 2012 only]

Credit points: 3
Year: 2012
Student Contribution Band: Band 3
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, Study Period 21, Internal
Census Date 12-Apr-2012
Coordinator: Assoc. Professor Taha Chaiechi
Workload expectations:
  • 39 hours workshops/Seminars
Assessment: end of semester exam (35%); other exams (35%); project (30%).

JCU Brisbane, Study Period 23, Internal
Census Date 06-Dec-2012
Coordinator: Assoc. Professor Taha Chaiechi
Workload expectations:
  • 39 hours workshops/Seminars
Assessment: end of semester exam (35%); other exams (35%); project (30%).

JCU Singapore, Study Period 51, Internal
Census Date 22-Mar-2012
Coordinator: Assoc. Professor Taha Chaiechi
Workload expectations:
  • 39 hours workshops/Seminars
Assessment: end of semester exam (35%); other exams (35%); project (30%).

JCU Singapore, Study Period 54, Block
Census Date 15-Mar-2012
Face to face teaching 03-Mar-2012 to 18-Mar-2012 (Teaching over 3 weekends with exam scheduled on another weekend)
Coordinator: Assoc. Professor Taha Chaiechi
Workload expectations:
  • 39 hours workshops/Seminars
Assessment: end of semester exam (35%); other exams (35%); project (30%).

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.