Module Title:Sports Economics
Language of Instruction:English
Credits: 10
NFQ Level:6
Module Delivered In 4 programme(s)
Teaching & Learning Strategies: The learning outcomes detailed above will be achieved through the following teaching methodologies: • Lectures - communication of knowledge and ideas from the lecturer to the student. • Problem Solving Exercises – students will work as part of a team and will work together to resolve various economic scenarios. • Class Discussion/Debate - Students will be encouraged to actively participate in the class sessions which will develop their analytical and communication skills. • E-Learning – It is envisaged that the module will be supported with on-line learning materials. • Self-Directed Independent Learning – the emphasis on independent learning will develop a strong and autonomous work and learning practices.
Module Aim: The aim of this module is to provide students with a knowledge and understanding of the fundamental economic principles and theories relevant to the operation of professional and amateur sports.
Learning Outcomes
On successful completion of this module the learner should be able to:
LO1 Discuss and analyse the implications of theoretical and empirical work in the economics of sport for policy issues relevant to the sporting environment including competitive structure in sporting leagues, free agency and player mobility, the economics of mega-sporting events and the financing of professional sport.
LO2 Illustrate and explain the market for participant sport in both (a) public and private sectors and in (b) volunteer and sport clubs, and be able to analyse policies in relation to these.
LO3 Describe, explain and analyse the operation of the market for professional sports.
LO4 Evaluate issues of uncertainty of outcome, competitive balance and bias in sports leagues.
LO5 Explain the rationale for and methods of cross subsidisation, and use economic models to understand cross subsidisation in different forms of leagues.
LO6 Describe and analyse public demand for professional team sports focusing on match attendance and broadcasting issues.
LO7 Explain the operation of the labour market in professional team sports using economic theories of Monopsony, Monopoly, Bargaining, and Non-profit maximising behaviour.
Pre-requisite learning
Module Recommendations

This is prior learning (or a practical skill) that is recommended before enrolment in this module.

No recommendations listed
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed.
No requirements listed
 

Module Content & Assessment

Indicative Content
Introduction to the Economics of Sport
• What is sports economics? • Introduction to Economic Methodology: A Core Economic Model of Perfect Competition & Efficient Resource Allocation • Market Failure and the Rationale for Policymaker Intervention • Limitations to Policymaker Intervention • Economic Organisation of Sport • Economics of Mega Sporting Events
The Economics of Sports Participation
• A General Economic Model of Sports Consumption: Dual Decision Hypothesis; Income-Leisure Trade-off; Derived demand for sports • An Integrated framework for Consumer Choice • Policy Implications • Empirical evidence on sports participation and expenditure on sports
The Supply of Participant Sport I (Public and Private Sectors)
• Structure of supply • The Public Sector: Irish and U.K. Policy and provision • The Economic Rationale for Public Policy: Economic Efficiency and Equity • The Private Sector: Market structure and Pricing • Informal participation • Sports Equipment
The Supply of Participant Sport II (Volunteer and Sports Clubs)
• The Sports Club Sector (European Hierarchical Sports Organisation) • The Economic Foundation of Sports Club Systems (Club goods, provision of club goods, Hierarchical form, Economic Evaluation) • An Economic Analysis of Volunteering in Sport
The Market for Professional Sports
• The Transition to Professionalism • Sports Competitions as Economic Contests (Contest/Tournament theory) • Foundations of the Analysis of Professional Team Sports(Production of Professional team Sports, The Peculiar Economics of Sport, The League as a Natural Monopoly or Cartel) • International Experiences
Uncertainty of Outcome, Competitive Balance and Bias in Sports Leagues
• The Time Dependent Nature of Uncertainty of Outcome • Short- run (match) Uncertainty of outcome (Relative league standings, Betting odds, Direct estimates) • Medium term uncertainty of outcome (Within-season and seasonal (team specific) uncertainty of outcome • Long-run uncertainty of outcome (evolution of competitive balance)
Cross-Subsidization in professional sports leagues
• Rationale for cross subsidisation • Methods of cross subsidisation (Sporting labour markets; Revenue redistribution) • An economic framework for understanding cross subsidisation (profit maximising competitive equilibrium; Cross subsidisation in a profit maximising league; equilibrium in a win maximising league; cross subsidisation in a win maximising league)
The Demand for Professional Team Sports: Attendance and Broadcasting
• Demand for Professional Team Sports (Measuring income, price and quantities; consumer preferences) • Broadcast demand (the economics of broadcasting and sport)
The Labour Market in Professional Team Sports
• Perfect competition as a benchmark labour market • Historic evolution of the labour market in sport (US, the UK, Europe, Player agents, contract duration) • Theorizing the Players’ Labour Market (Monopsony, Monopoly, Bargaining, Non-profit maximising behaviour) • The players’ labour market (econometric findings from the US and Europe)
Assessment Breakdown%
Continuous Assessment10.00%
Project20.00%
End of Module Formal Examination70.00%
Continuous Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Other One examination in Term 1 2,3 10.00 Week 13
Project
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Project Group project 1 20.00 Week 25
No Practical
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam 3 hour examination 1,2,3,4,5,6,7 70.00 End-of-Semester

ITCarlow reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Frequency Average Weekly Learner Workload
Lecture 30 Weeks per Stage 3.00
Estimated Learner Hours 30 Weeks per Stage 3.67
Total Hours 200.00
 

Module Delivered In

Programme Code Programme Semester Delivery
CW_BBGAA_D BA in Sport Coaching & Business Management (GAA) 2 Mandatory
CW_BBRUG_D BA in Sport Coaching & Business Management (Rugby) 2 Mandatory
CW_BBSOC_D BA in Sport Coaching & Business Management (Soccer) 2 Mandatory
CW_BBSMC_B Bachelor of Arts (Honours) in Sport Management and Coaching 2 Mandatory