This unit gives students a grounding in the basics of sport economics and finance.to enable students to be financially literate and comfortably use numerical data to plan and manage the economic affairs of sport and active recreation enterprises. Students will become proficient in the critical analysis of balance sheets, income and expenditure statements, and cash flow statements. Benefit-risk analysis will be used to compare and contrast different financing tools for both the short and long term. Special attention will be given to financial performance, and how financial ratios can be used to diagnose the financial health of sport and recreation organisations, events, tournaments and programs. Techniques for constructing budgets, estimating and monitoring future revenue, expenses, and profit levels will also be discussed.
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Learning Outcomes
| 1. | Enhance their economic and financial literacy by explaining and integrating key terms and operating principles, including money as a store of value, cash as the idealized form of liquidity, accrual accounting, wealth creation and valuation, profit-making, debt and risk management, return on investment, monetisation of non-market exchanges, triple bottom line accounting, and cost-benefit analysis; | ||
| 2. | Interpret and assess financial statements through the use of ratio analysis, and use the findings to assess the past performance of sport enterprises, and improve future outcomes and overall sustainability; | ||
| 3. | Appraise the government's role as an allocator of resources to the sport sector, and critically assess the impact and legacies of sport events, sporting competitions, and active recreation programs on host cities, towns, and local communities, taking into account economic, social, environmental, and health & well-being outcomes; and, | ||
| 4. | Interpret the role of data analytics as a tool for improving both the on-and off-field performance of sport enterprises. |
Assessment
| Assessment type | Description | Grade |
|---|---|---|
| Report | Financial diagnosis. | 30% |
| ICT (Wiki, Web sites) | Discussion board Contributions | 40% |
| Project | Economic impact statement - Cost-benefit analysis (including a 15-20 minute Multimedia presentation) | 30% |
Required reading
Financial Management in the Sport Industry.
Brown, M., Rascher, D., Nagel, M. & McEvoy. (2016)
Scottsdale, Holcomb Hathaway
Sport Funding and Finance.
Stewart, B. (2015)
London, Routledge.
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