UNION
COLLEGE
DEPARTMENT OF ECONOMICS
ECO 120
Spring 2002
The Economics of Sports
Faculty:
Professor
William Fairchild
Department of Mathematics
Office: Bailey Hall 208C
Phone: x6164
E-Mail: fairchiw@union.edu
Office hours: Tues, Thurs, 12:20
until the last player departs.
Professor
Harold O. Fried
Department of Economics
Office: Social Sciences 211C
Phone: x6368
E-Mail: friedh@union.edu
Office hours: Tues,
Thurs, 3:00 – 5:00 and by appointment.
Professor
James Lambrinos
Graduate Management Institute
Office: Lamont House 201C
Phone: x6253
E-Mail: lambrinj@union.edu
Office hours: Tues,
Thurs, 1:30 – 3:30 and by appointment.
COURSE
EVALUATION:
Participation, Attendance 10%
Simulation Project
30%
Midterm Exam
30%
Final Exam
30%
100%
COURSE OBJECTIVES:
1.
To learn about simulation through the STELLA software and how it can be
used in sports economics.
2.
To measure the impact of a player on the success of a team using
simulation.
3.
To understand the impact of stadiums and sports teams on local economies.
4.
To understand the role of market power in professional sports.
5.
To learn what explains country success at the Olympics.
6.
To learn how to evaluate the performance of an athlete, a coach and a
front office
conditional on the resources available.
7.
To investigate the issue of discrimination in professional sport’s
salaries.
8.
To understand the efficiency and inefficiency of gambling markets for
sports.
SCHEDULE:
|
Week |
Class |
Sess. |
Faculty |
Topic |
Date |
|
|
|
|
|
|
|
|
1 |
1 |
1 |
HF |
Overview
of Course |
2-Apr |
|
|
|
2 |
BF |
Overview
of STELLA |
|
|
|
2 |
3 |
BF |
STELLA |
4-Apr |
|
|
|
4 |
BF |
STELLA |
|
|
2 |
3 |
5 |
JL |
Discrimination
in Sports |
9-Apr |
|
|
|
6 |
JL |
Discrimination
in Sports |
|
|
|
4 |
7 |
JL |
Discrimination
in Sports |
11-Apr |
|
|
|
8 |
JL |
Discrimination
in Sports |
|
|
3 |
5 |
9 |
HF |
Olympics |
16-Apr |
|
|
|
10 |
HF |
Olympics |
|
|
|
6 |
11 |
BF |
STELLA |
18-Apr |
|
|
|
12 |
BF |
STELLA |
|
|
4 |
7 |
13 |
BF |
STELLA |
23-Apr |
|
|
|
14 |
BF |
STELLA |
|
|
|
8 |
15 |
JL |
Arbitration,
Free Agency |
25-Apr |
|
|
|
16 |
JL |
Arbitration,
Free Agency |
|
|
5 |
9 |
17 |
HF |
Efficiency
in Sports |
30-Apr |
|
|
|
18 |
HF |
Efficiency
in Sports |
|
|
|
10 |
19 |
HF |
Efficiency
in Sports |
2-May |
|
|
|
20 |
HF |
Efficiency
in Sports |
|
|
6 |
11 |
21 |
|
Midterm |
7-May |
|
|
|
22 |
|
Midterm |
|
|
|
12 |
23 |
BF |
STELLA |
9-May |
|
|
|
24 |
BF |
STELLA |
|
|
7 |
13 |
25 |
JL |
Sports
Betting Markets |
14-May |
|
|
|
26 |
JL |
Sports
Betting Markets |
|
|
|
14 |
27 |
JL |
Sports
Betting Markets |
16-May |
|
|
|
28 |
JL |
Sports
Betting Markets |
|
|
8 |
15 |
29 |
JL |
Franchise
Benefits/Costs |
21-May |
|
|
|
30 |
BF |
STELLA |
|
|
|
16 |
31 |
BF |
STELLA |
23-May |
|
|
|
32 |
HF |
Franchise
Benefits/Costs |
|
|
9 |
17 |
33 |
HF |
Estimating
MRP |
28-May |
|
|
|
34 |
BF |
STELLA |
|
|
|
18 |
35 |
HF |
Estimating
MRP |
30-May |
|
|
|
36 |
HF |
Estimating
MRP |
|
|
10 |
19 |
37 |
All |
Project
Presentations |
4-Jun |
|
|
|
38 |
All |
Project
Presentations |
|
|
|
20 |
39 |
All |
Project
Presentations |
6-Jun |
|
|
|
40 |
All |
Project
Presentations |
|