SPT3720EN - Sport Economics

Course description

This course is first and foremost an economics class, where the concept of sport supplies the context to study basic economic principles. Economic theories guide student understanding in topics such as industrial organization, public finance, and labor markets where fundamental economic principles are introduced and applied to aspects of both professional and amateur sports. Through assigned readings, course assignments, and weekly discussions students explore the competitive landscape, profit maximization, monopoly markets, labor markets, public finance, and how sports can serve as tools for nations to conduct foreign policy. This course encourages the ethical principles and practices of sport economics and provides a foundation for students pursuing studies in sport management.

How this course benefits students

In this course, students learn how to critically and objectively evaluate economic issues within the sports industry. Students gain an understanding of the business structures as they apply to professional and amateur sport industries and how these principles are essential to successful sport management. Students learn to appreciate economic concepts and theories and how these can be applied to sport organizations and the field of sport management.

Why this course is important

This course emphasizes the application of economics within the context of sport and provides the sport manager with a unique opportunity to test various economic theories. Students learn how to identify and apply relevant economic concepts and theories to the operation of professional and amateur sports and how these principles can guide decision-making by sport management professionals and public policy makers.

Credit hours
3 hours
Subject area
Sports Management
Educational level
Bachelor
Learning type
Instructional
Prerequisites
None
Upcoming terms
Pending
* Schedule subject to change. Please contact the Registrar's office with schedule questions.
Professor
Dr. Tracy Yoder, Professor of International Sports Management

How this course relates to missional core values

Biblically based

The Bible is not silent on issues of industry, personal and institutional integrity, and the economic impact that individuals and businesses can have on society. In this class, economic action and policy are informed by scripture and guided by moral law.

Missionally driven

Christian sport professionals learn to embrace economic principles, understanding that the practical application of economics can be used to benefit individuals, groups, or communities. This class examines how ethical decision-making in sport economics ensures God is being glorified in the process.

Contextually informed

The context of sport offers its own set of issues that we must face from a biblical worldview. This class explores the economic consequences and the impact these might have on individuals, organizations, and communities.

Interculturally focused

The intersection of sport and economics can vary widely based on the cultural beliefs, geographical location, and individual preferences of various people groups. The sport and recreation industry has economic ramifications and influence that can certainly impact values and culture.

Practically minded

Students evaluate case studies to synthesize economic practices and principles within the sports industry, including the private and public sectors, in addition to amateur and professional sports.

Experientially transformed

In this course, students use critical thinking and problem-solving skills to apply the economic principles and concepts to the sport industry, providing students with real-world examples and creating a sense of understanding in applied contexts.