Opetussuunnitelmat

Objective

The object of the course
This course aims at highlighting the importance of economic and financial management in sport business context. The course introduces the main concepts of economics and financial management in relation to the unique features of sport business. Some cases of sport economics and financial management are introduced and discussed in terms of their importance in sport business management. This course is part of the Sustainable Sport Business Management module.

After completing this course, you have a deeper understanding of current topics in economic and financial management in sport. You gain insights into different areas of topical themes in economic and financial management in sport.

Course competences
Sport business management competence: You critically review and understand the core concepts of sport business management and gain knowledge and skills in sport management, sport marketing, entrepreneurship and finance.

Proactive development: You identify development areas by anticipating the future of your field. 

Learning to learn: You seek, acquire, and critically assess information from reliable sources. 

The learning objectives of the course
Upon completion of this course, you are able to review and understand the concepts of economic and financial management in sport and sport business. You understand how economic and financial management methods and tools support decision-making. You identify development areas by anticipating the future of in the field of economic and financial management in sport. You are able to provide proposals for solving problems related to economic and financial management in sport and take into account the different operating environments as well as the special nature of sport. You consider the reliability of sources when seeking, acquiring, and critically assessing information.

Content

The course content consists of theories such as unique features of sport, competitive balance, demand and pricing, funding and revenue streams in sport, value co-creation, financial statements, economic impact, time value of money, risk, cash flows and valuation.

Assessment criteria, satisfactory (1)

Sufficient 1
You attempt to analyze and evaluate academic and business information relevant to economic and financial management in sport. You are able to identify development areas. You can apply some basic economic and financial management concepts. You show some but narrow skills in providing solutions related to economic and financial management in sport. You attempt to consider reliability of sources when seeking and acquiring information.

Satisfactory 2
You have some ability in order to analyze and evaluate academic and business information related to economic and financial management in sport. You have some ability to identify development areas. You can independently apply economic and financial management concepts and produce contents in a given situation, but the approach is not supported with argumentation. You are able to provide some economic and financial management solutions in sport context and you are familiar with current trends in economic and financial management in sport, but the approach is not supported with argumentation. You have some ability to consider reliability of sources when seeking and acquiring information.

Assessment criteria, good (3)

Good 3
You are able to evaluate relevant academic and business data and consider possible approaches and outcomes for sport business and economic and financial management in sport. You have ability to identify development areas with justifications. You can apply economic and financial management concepts in your case. You are able to come up with some applicable solutions in your case with justifications. You show ability to consider reliability of sources when seeking and acquiring information.

Very Good 4
You can critically evaluate relevant academic and business data and consider possible approaches and outcomes for economic and financial management problems in sport. You have ability to identify development areas with justifications and critical assessment. You show analytical skills and logical thinking with justifications, and you can adapt academic and practical economic and financial management concepts in your case. You can come up with innovative solutions in your case, and to critically evaluate your findings. You consider and justify reliability of sources when seeking, acquiring and critically assessing information.

Assessment criteria, excellent (5)

5 Excellent
You can critically evaluate relevant academic and business data and present innovative, justified outcomes for economic and financial management problems in sport. You have ability to identify innovative development areas with justifications and critical assessment. You can adapt multiple innovative economic and financial management solutions in your case. You can critically evaluate your findings and utilize them for decision-making. You thoroughly consider and justify reliability of sources when seeking, acquiring and critically assessing information.

Materials

Brown, M.T., Rascher, D.A., Nagel, M.S. and McEvoy, C.D. (2021). Financial Management in the Sport Industry, 3rd Edition. Available as printed book in Jamk library.

Winfree, J.A., Rosentraub, M.S., Mills, B.M. and Zondiak, M. (2018). Sports Finance and Management, 2nd Edition. Available as e-book in Jamk Library.

Wilson, R. (2011). Managing Sport Finance, 1st Edition. Available as e-book in Jamk Library.

Further information

This course is mandatory for Sport Business Management master students.