This essay/analysis will require students to analyse(using the economic concepts, models, tools and techniques studied to this point in the course) the changing competitive dynamics in the broader global hotel?hospitality/tourism sector. Specifically students should select a particular market from within the broader global hotel/hospitality/tourism market for analysis Ideally the analysis should utilise (in particular) the economic concepts and tool studied to date. Assessment criteria will create on the degree and effectiveness to which the analysis utilises economic tools(this means diagrams) to assess the impacts on their chosen market for changes in the competitive structure and dynamics of the selected market. It is suggested that any factor which affects market behaviour and hence any aspect of supply and demand is a candidate for assessment of its competitive impacts. So anything which contributes to thee logic and /or impacts upon the behaviour of demand and supply curves(eg price, elasticities, shift forces, taxes, externalizes, marketing forces etc) should be consider in the analysis. Your analysis must have a structure with headings and subheadings which contribute to the logic and the readers comprehension of the analysis. The analysis must lead to conclusions and it is suggested also to close the analysis, a summary. Some of the categories of economic tools eg supply, demand, elasticizes, taxes,etc could provide the basis for your structure or alternatively the market impacts you are analysing . It should be viewed as a document which would provide the underpinning knowledge required to make an informed business decision. For example the technical analysis required by an organisation to make a fully informed strategic marketing decision.
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