Analysis and Economics of Tourism

Total Hours in Course120

Number of hours for lectures32

Number of hours for seminars and practical classes16

Independent study hours72

Date of course confirmation18.09.2019

Responsible UnitInstitute of Business and Management Science

Course developers

prof.

Anita Auziņa

Dr. oec.

lect.

Baiba Kizika

Mg. oec.

Prior knowledge

Ekon1024, Microeconomics

Ekon2121, Macroeconomics

Ekon2135, Tax Accounting

Ekon3111, Financial Accounting

Ekon3116, Financial Management

Course abstract

The course provides students with knowledge of tourism economics in the context of the national and global markets, covering such issues as the classification of tourism and the role and place of tourism in the economy. The course deals with trends in the tourism market – the demand for and supply of tourism products, building up an understanding of the price formation of tourism products. Students also build up theoretical knowledge of and practical skills in analysing the performance of a tourism enterprise – calculating, analysing and assessing the economic performance indicators of the tourism enterprise, interpreting the results and finding potential solutions.

Learning outcomes and their assessment

1. Students will be able to: demonstrate the knowledge of the nature of the tourism industry and its place and role in the national economy and the key indicators of the tourism industry - discussions, a presentation, an examination
2. Demonstrate the knowledge and understanding of the demand for and supply of tourism, preconditions for demand and tourism forecasting methods - group work, a test
3. Demonstrate the knowledge and a critical understanding of analysis indicators for the economic performance of a tourism enterprise and relationships among the indicators - assignments with calculations
4. Independently analyse the indicators of the tourism industry, make reasoned conclusions and proposals for the development of the industry - group work, a presentation, a test, an examination
5. Independently perform a tourism demand segmentation, determine preconditions for tourism development in a particular region - discussions, group work, a test
6. Independently work with financial reports to assess the economic situation of a tourism enterprise - assignments with calculations
7. Independently analyse the economic performance indicators of a tourism enterprise and justify potential solutions to developing the enterprise - assignments with calculations, a test, an examination
8. Responsibly plan the assignments given, assume responsibility for the results of group work and an analysis of the results - group work
9. Explain and reasonably argue the results of calculations - discussions in classes
10. Constantly acquire a new knowledge, analyse and integrate the information acquired – examination
11. Independently formulate and critically analyse problems in the tourism economy and in the performance of a tourism enterprise - tests, an examination

12. Independently analyse the economic performance of a tourism enterprise, identify problems and make proposals for the improvement of the enterprise’s performance - assignments with calculations, a test, an examination

Course Content(Calendar)

1. Introduction to tourism analysis and economics (lecture - 1 hour)
2. Role of tourism in the economy. The place and role of tourism in the economy of Latvia (lecture - 1 hour, practical assignment - 2 hours)
3. Characteristics of the tourism industry, an analysis of economic performance indicators (lecture - 1 hour, practical assignment - 2 hours)
4. Tourism market (lecture - 1 hour)
5. Demand for tourism, an analysis of it in Latvia, a region, a city (lecture - 1 hour, practical assignment - 2 hours)
6. Supply of tourism, an analysis of it in Latvia, a region, a city (lecture - 1 hour, practical assignment - 2 hours)
7. Tourism product and pricing (lecture - 1 hour, practical assignment - 2 hours)
8. Tools for analysis of the tourism industry (lecture - 1 hour, practical assignment - 4 hours)
9. Test (2 hours)
10. Analysis of economic performance of tourism enterprises. Specifics of tourism business analysis (lecture - 2 hours)
11. Analysis of sales of tourism services (lecture - 1 hour, practical assignment - 2 hours)
12. Analysis of the equity capital of and investments by tourism enterprises (lecture - 1 hour, practical work - 2 hours)
13. Revenue and cost analysis of tourism enterprises (lecture - 1 hour, practical assignment - 4 hours)
14. Profit analysis of tourism enterprises (lecture - 1 hour, practical assignment - 2 hours)
15. Analysis of financial reports of tourism enterprises (lecture - 1 hour, practical assignment - 1 hour)
16. Analysis of financial performance indicators of tourism enterprises (lecture - 1 hour, practical assignment - 3 hours)

17. Test (2 hours)

Requirements for awarding credit points

Examination. The mark consists of the following pieces of assessment:
• Examination – all the topics (40 %)
• Group work, a presentation (10 %)
• Assignments with calculations (10%)
• Test - Price formation of tourism products and services and an analysis of the performance of a tourism enterprise (20%)
• Test - Analysis of the main economic performance indicators of a tourism enterprise (20%)

10% are equal to one point on a 10-point marking scale

Description of the organization and tasks of students’ independent work

Preparation for group work, a presentation, tests and the examination.

Criteria for Evaluating Learning Outcomes

The examination mark is cumulative.

Compulsory reading

1. Valters F. Tūrisma mārketings. Uz tirgu orientēta tūrisma mikroekonomikas un makroekonomikas pārvaldība. Rīga: SIA Biznesa augstskola Turība, 2011. 621 lpp.
2. Siliņēviča I. Tūrisma analīze. Mācību līdzeklis tūrisma uzņēmējdarbībā. Rēzekne: Rēzeknes Augstskola, 1999. 83 lpp.
3. Tribe J. The Economics of Recreation, Leisure and Tourism. 5th Edition. London: Routledge 2016. 460 p.
4. Zariņa V., Strēle I. Finanšu plānošana uzņēmumā. Rīga: Lietišķās informācijas dienests, 2009. 105 lpp.

5. Rurāne M. Uzņēmuma finanses. Rīga: Jumava, 2007. 266 lpp.

Periodicals and other sources

1. Tūrisma statistikas aktualitātes. Pieejams: http://www.csb.lv
2. Latvijas tūrisma aģentu un operatoru asociācija. Pieejams: http://www.alta.net.lv

3. Valsts Tūrisma Informācijas Centru Tīkla Portāls. Pieejams: http://www.latvia.travel.lv

Notes

Field professional specialization course (Part B3) for the ESAF professional bachelor programme Entrepreneurship and Business Management, specialisation Rural Tourism Management

Atsauksmes