Economics Study Notes

Contents:Estimation of tourism demand: regression analysis; Forecasting tourism demand: concepts, steps, andsignificance, methods of forecasting: survey method and trend projection method; Analysis of private andpublic tourism projects; and Factors affecting travel and tourism’s yields and future This study notes is prepared by Mr.Prakash Chand Thakury (Student from Sudur Pachimanchal College, Dhangadi, Nepal). “Thank you for […]

Concepts of macroeconomic issues: GDP, GNI, economic growth, inflation, business cycle, balance ofpayments, foreign exchange rate, unemployment; Effects of tourism on GDP, employment, economicgrowth, Balance of Payment (BOP) and foreign exchange rate; Relationship between macroeconomicenvironment and tourism business. This study notes is prepared by Mr.Prakash Chand Thakury (Student from Sudur Pachimanchal College, Dhangadi, Nepal). “Thank

Contents:Production function of tourism products: concepts and types; Concepts of cost: opportunity cost,accounting cost and economic cost, fixed cost and variable cost in tourism industry; Economic profit andbusiness profit; Market structure: concepts and characteristics, Firm’s equilibrium and profitmaximization model; Pricing practices: price discrimination, cost-plus pricing, incremental cost pricing,bundling, tying, two-part tariffs This study notes is

Contents:Market equilibrium; Changes in tourism demand and tourism supply and their effects on market equilibrium; Concept and measurement of economic efficiency; Effects of tax, subsidy, and price control measures on market equilibrium and economic efficiency. This study notes is prepared by Mr.Prakash Chand Thakury (Student from Sudur Pachimanchal College, Dhangadi, Nepal). “Thank you for your

Contents: Demand function; Variables influencing tourism demand; Levels of choices affecting tourism demand;Factors constraining tourism demands; Movement along a demand curve and shifts in the demand curve;Concept and measurement of price, income, and cross-price elasticity of demand for tourism products;Relationship between price elasticity of demand and revenue; Supply of tourism products: concepts and determinants; Supply

Contents:Fundamentals of economic principles and their application in tourism business: how people make decisions, and how people interact; Concepts of microeconomics and macroeconomics; Tourism economics: nature and scope; Composition of the tourism industry and its product: suppliers’ and tourists’ views; Concept of free and scarce resources in tourism; Controlling and rewarding resource use; Interrelationship between