Availabilities:
2024 unit offering information will be available in November 2023
Unit description
Introduces students to the fundamental economic principles that are used to analyse and understand performance and develop strategy in the hospitality industry. Students focus on the role of risk analysis and risk mitigation in implementing strategy.
Unit content
- Economics of Hospitality
- Economics and Risk Management in Accommodation Operations
- Economics and Risk Management in Food and Beverage Operations
- Economics and Risk Management in Human Assets
- Economics and Risk Management in Non-human Assets
- Risk and Hazard Control Processes
Learning outcomes
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
| On completion of this unit, students should be able to: | |
|---|---|
| 1 | demonstrate knowledge of the key theories that explain the economics of the hospitality industry; |
| 2 | identify and critically analyse the performance of a hospitality business using economic theories; |
| 3 | demonstrate the capability to identify risks and propose mitigation strategies in the hospitality industry; |
| 4 | demonstrate the knowledge and skills to reflect upon the challenges of managing risk in the hospitality industry. |
On completion of this unit, students should be able to:
- demonstrate knowledge of the key theories that explain the economics of the hospitality industry;
- identify and critically analyse the performance of a hospitality business using economic theories;
- demonstrate the capability to identify risks and propose mitigation strategies in the hospitality industry;
- demonstrate the knowledge and skills to reflect upon the challenges of managing risk in the hospitality industry.
Teaching and assessment
Fee information
Domestic
Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.
Fee paying courses
For postgraduate or undergraduate full fee paying courses please check Domestic Postgraduate Fees OR Domestic Undergraduate Fees
International
Please check the international course and fee list to determine the relevant fees.