03416 - Economics of Tourism

Course Unit Page


This teaching activity contributes to the achievement of the Sustainable Development Goals of the UN 2030 Agenda.

Industry, innovation and infrastructure Responsible consumption and production Climate Action

Academic Year 2022/2023

Learning outcomes

At course completion, the student is expected to have acquired the fundamentals of the macro- and micro-economic analysis of tourism. In particular, the student should be able to: - evaluate through which mechanisms and to what extent tourism influences economic systems; - analyse the behaviour of consumers and touristic firms, demand and supply of touristic goods and services, and the equilibrium of the tourism market; - identify and analyse the strategies of touristic firms; - identify and analyse the different types of competition typical of the tourism market.

Course contents

  • Definitions and content (Ch. 1)
  • Tourism in the economic system (Ch. 2) + tourism multiplier (Ch. 12.1-2 + additional material on the regional multiplier) + input-output multipliers (additional material) + tourism satellite accounts (additional material)
  • Economics of destinations (Ch. 3 (excluding sections on marketing/management/web marketing) + additional material on revenues and elasticity, and on forecasting)
  • The tourist as a consumer (Ch. 4)
  • More on the tourist-consumer theory (Ch. 5, excluding Sections 5.5, 5.6 and 5.7.4)
  • Seasonality in tourism (Section 6.5)
  • Tourism firms (Chs 7-8, until yield management)


Main textbook: Candela G. and P. Figini (2010) Economia del Turismo e delle Destinazioni. McGraw-Hill, Milan.

For non-Italian speakers, the main textbook is available in English as well, in a slightly revised form, as: Candela G. and P. Figini (2012) The Economics of Tourism Destinations. Springer, Heidelberg.

Additional textbooks used during the course:

(1) Dwyer L., P. Forsyth and W. Dwyer (2010) Tourism Economics and Policy. Channel View Publications, Bristol;

(2) Armstrong H., J. Taylor (2000) Regional Economics and Policy (3rd ed.). Blackwell Publishing, Malden.

During the course, the following materials are made available on Virtuale: (i) all solved exercises, (ii) a high number of past exams (in the previous exam mode), (iii) the entire course's slides, (iv) any additional material with respect to the main texbook.


Teaching methods

Frontal lectures.

Assessment methods

The exam is carried out in the form of a set of 33 multiple-choice questions to be answered in 33 minutes.

Questions will include, in addition to aspects tied to theory and the texts used during the course, micro-exercises (single steps from the exercises).

The exam will be carried out on EOL, in the computer lab.

In case of online exams (only when decreed as necessary), the exam is identical. In this case, students will need to connect via Zoom with both a computer and a cellphone. In particular, they will share their computer screen, while using microphone and webcam from the cellphone.

During the exam, it is not necessary nor allowed using any additional material (notes, calculator, paper sheets...).

Students who are not fluent in (reading or writing) Italian should contact the instructor at least a week before the exam to ask for an English version.

A positive final mark can only be refused once. After publication of the results, refusal of the grade has to be communicated via email within the day of the subsequent office hours of the instructor.

Exam grades generically follow this distribution (in relation to ECTS grades):

<18 insufficient (F)
18 sufficient (E)
19-22 average (D)
23-26 good (C)
27-29 very good (B)
30 and 30L excellent (A)

Teaching tools

- Teaching material, provided on Virtuale.

- Regular weekly office hours.

- Teaching assistant (tutor).

Office hours

See the website of Roberto Patuelli