Sports Economics

Catalog description

This course applies microeconomic theory and econometric analysis to sport and it explores some public policy issues that have arisen in the design of sports competitions. In addition it applies the tools of behavioral finance to sports betting markets. This is a unique opportunity to understand why there has been a recent explosion in economists looking both at the market of sports and using sports data to explain or to test theories about the wider business world. The course is divided into four main parts: The Structure of Sports Leagues, Labor Market Issues, College Sports and the Market for Sports Betting. By the end of the course students will be able to comment intelligently on the economic issues of sport which regularly appear in the news media and they will be able to offer insights into the parallels between betting on the ball game gambling at the ponies and purchasing stock in a favorite firm on the NYSE.