Section A02: The Economics of Sports
Do professional sports leagues (MLB, NBA, NFL, MLS, EPL, La Liga) operate like regular businesses? What are the important differences between sports leagues and other businesses? Should cities pay for sports facilities? What are the effects of free agency, drafts, relegation and promotion, revenue-sharing on competitiveness, player salaries, franchise (team) revenues and fan base? Should the NCAA pay college athletes? This seminar uses economic ideas and tools to understand how different professional and amateur sports leagues operate and the impact of government and league policies on competitive balance, player salaries, team revenues and fan base. Athletic ability is not required but interest in economics and general knowledge of sport leagues are helpful.