Course Outline

Part 1: General Economic Theory Basic Theory –Definition –The Economic Problem –5 Tenets of Economics –Sectors of the Economy (Players) –Branches The Demand for S & E –Consumer theory –Elasticity The Supply of S & E –Supply –Production and Cost Theory Market Equilibrium Pricing

Part 2: Microeconomic Theory Market Structure –Antitrust –Profits –Marketing –Copyrights –Technology Labor Markets –Wages and Labor Athletes and Entertainers –Choices and opportunity costs Use of Time –Marginal Product –Unions –Discrimination Public Finance

Part 3: Macroeconomic Theory GDP Measures – GDP and Disposable income –Business Cycles –Policy Indicators Economic Modeling

Part 4: Economics of Sports Demand and Supply –Pricing Price Discrimination –Elasticity –Broadcast rights –Costs, Profits and Winning –Production Profit Sharing Market Structures –Types of Structures in Sports Monopolies and Competition Barriers to entry Antitrust Cartels –Types of Business –Revenues, Costs and Profits Refreshments etc

Labor Market –Terms Wages and Salary –Demand and Supply Marginal Product –Athletes and Choices –Trades –Salary Cap Luxury Tax –Contracts –Labor Relations Unions Trades Urban Economics: Franchise location Public Finance: Stadiums

Part 6: Rockonomics Demand and Supply –Consumers Ticket allocation Substitutes and Complements Tastes Teen buying habits –Commercial sponsorships –Pricing –Elasticity –Production

Market Structures –Types –Technology –Marketing –Distribution –Regulation and Mergers –Touring –Profits –Merchandising –Copyrights Labor Markets –Entry –Costs

Part 7: Economics at the Movies and Television Demand and Supply –Video Substitutes and Complements Technology –Pricing –Elasticity –Production Market Share and Distribution –Television Ratings and Market Share –Movies Box Office Public Finance

Market Structures –Costs –Technology –Product tie-ins Refreshments Consumer goods –Management –Entry Labor Markets –Unions –Entry Hollywood Abroad –International Trade –Exchange Rates –Exports –Tariffs and Quota