3.00 credit hours
The world of sports provides many captivating examples of how economic tools and methods can be understood through real-world applications. While the popularity of sports is unquestioned, there are many ways in which economics can delve more deeply into the hidden inner-workings of the sports world. When sports teams acquire a new player, are they attempting to maximize wins, or profits? Do the NCAA, NFL, or other sports leagues have a monopoly, and what costs would this entail? What incentives guide sports teams, strategies, and would they ever lose on purpose? Is it worth it to subsidize a sports team to build a new stadium, or renovate an existing arena, in your city? The purpose of this course is to perform economic analysis of sports teams, leagues, and institutions by applying economic tools to a variety of sport-related topics. Microeconomic theory is applied to these questions, and others, drawing from economic fields including industrial organization and public finance. Students with an interest in applying basic economic tools to answer real-world questions in the rapidly growing world of sports should strongly consider taking this course.
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