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