Course Title: Economics for Tourism and Hospitality

Part A: Course Overview

Course Title: Economics for Tourism and Hospitality

Credit Points: 12.00


Course Code




Learning Mode

Teaching Period(s)


RMIT University Vietnam


830H School of Business and Management


Viet3 2017,
Viet1 2018

Course Coordinator: Earney F. Lasten

Course Coordinator Phone: +84 3776 1300

Course Coordinator Email:

Course Coordinator Location: Saigon South Campus, Room 2.2.20

Course Coordinator Availability: Tuesdays to Fridays (by appointment only)

Pre-requisite Courses and Assumed Knowledge and Capabilities


Course Description

This course will provide an introduction to the principles of economics, from the perspective of their relevance to the tourism and hospitality industry. The topics covered include microeconomics and macroeconomics (such as the principles of demand and supply for tourism and hospitality services), domestic and international market structures, economic growth and business cycles, the influence of government policy, money and exchange rates, trade policy and agreements in the tourism and hospitality sector, and regional and international economic development.

Objectives/Learning Outcomes/Capability Development

This course is designed to meet Program Learning Outcomes 3, 4, 7, 8, 9 as stated as follows.

  • PLO3 - Acquire the knowledge of the theory that informs the development of tourism & hospitality;
  • PLO4 - Apply analytical and quantitative skills to formulate business decisions related to the tourism & hospitality industry;
  • PLO7 - Demonstrate the knowledge & skills underpinning the management of people within the global context of the tourism & hospitality industry;
  • PLO8 - Communicate clearly and persuasively to negotiate, consult, and engage with clients, employees and their stakeholders; and
    PLO9 - Formulate innovative options & recommendations for sustainable business practices within the tourism & hospitality industry.

On completion of this course you should be able to:

  • CLO1 – Describe the principles of demand and supply in the tourism and hospitality industry;
  • CLO2 - Describe the domestic and international market structure;
  • CLO3 - Analyse the domestic and international market structurel;
  • CLO4 - Explain the economic growth and business cycles; 
  • CLO5 - Evaluate the objective and influence of government policy, money, exchange rates and trade policy and agreements in the tourism sector; and
  • CLO6 - Describe the economic impacts and development of tourism and hospitality at the regional and international levels.

Overview of Learning Activities

This course will utilise a range of learning activities, including face-to-face lectures and equivalent online activities, small group work activities/online discussion boards, and guest speaker presentations.
You will undertake a number of assessment tasks related to these experiences and receive feedback.

Overview of Learning Resources

As an enrolled student of RMIT University you will be provided with access via the internet to the RMIT Library databases and online facilities. If you require assistance with the RMIT library facilities the first person to contact is the Business Liaison Librarian for this school. Contact details for Business Liaison Librarians are located online on the RMIT library website.

Additional industry-based resources may be available to you depending on the nature of your placement.

Overview of Assessment

Assessment Tasks WeightingLinked Learning Outcomes
Assessment Task 130% 1, 2
Assessment Task 2 20%  1, 2
Assessment Task 3 50% 3, 4, 5, 6