This textbook describes the relevance of economics to the tourism and leisure industries, helping you to pass an economics module as part of a tourism, recreation or sport management degree.

It applies economic theory to a range of tourism industry issues at the consumer, business, national and international level by using topical examples to give the theory real-world context. The author explains the impact of the global economic crisis and the importance of understanding what has happened over the course of previous economic business cycles to prepare for what may happen in the future. Contrasting evidence is put forward to provide a sense of the dynamics of world economies.

Contents

1. Introduction Part 1: Organisations and markets 2. Organisations 3. Markets Part 2: Further issues of demand and supply 4. Demand: Time Preference 5. Elasticity and Forecasting 6. Supply and Costs Part 3: Markets in Practice 7. Market Structure and Pricing 8. Market Intervention Part 4: The External Operating Environment 9. The Competitive, Technological, Political and Sociocultural Environment 10. The Macro-Economic Environment Politics and Socio-culture Part 5: Investment 11. Investment in the Private Sector 12. Investment in the Public Sector Part 6: Economic Impacts 13. Income, Employment and Prices 14. Economic Development and Regeneration Part 7: The Global Economy 15. The Balance of Payments and Exchange Rates 16. Globalisation Part 8: Environmental Economics 17. Environmental Impacts 18. Sustainability 19. Critique 20. Critique, Alternative Perspectives and Change 21. Political, and Social Economy?