ECON 371 - Economics of Sport

(3 credits)

In the course, students will be introduced to the fundamental microeconomic principles used to analyze everyday sports events and its impact on the local economy. The models that will be studied include opportunity cost and comparative advantages, team demand, revenue, cost, and profit, competitive balance and revenue sharing, sports franchises as profit-maximizing businesses, ticket pricing, the factors that affect player pay, monopsony, and monopoly. Recommended prerequisites: ECON 201 - Principles of Microeconomics and ECON 202 - Principles of Macroeconomics. Grade only. Offered alternate years or when demand warrants.

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