Study Guide

Objectives (course unit)

Selling goods and services is not enough in modern economy. There is a need to consider the extra value of business supply by designing holistic, multisensory experiences for customers. Tourism is a typical business sector to implement experience economy characteristics and benefit from it.

After completing the course, the students will be able to:
• Understand and identify the nature and the characteristics of experience economy.
• Comprehend the characteristics of tourism business
• Apply theories of experience economy, tourist motivational factors and tourist typology in business planning

Content (course unit)

• What is experience economy about and how can we recognize it in modern world?
• What kind of a phenomenon is tourism and what are the main types of tourism business?
• How to apply the characteristics of tourism phenomenon in business planning?

Assessment criteria, satisfactory (1-2) (course unit)

The student can recognize and define the basic concepts of the experience economy in the context of tourism. The student is able to discuss and consider some characteristics of the experience economy. He/she can work in a group and take responsibility on his/her own work.

Assessment criteria, good (3-4) (course unit)

The student is able to explain, compare and apply the theories of the experience economy and tourism. The student can make plans, solve problems, and choose an appropriate course of action. The student can take responsibility and commit to the group activities in addition to his/her own work.

Assessment criteria, excellent (5) (course unit)

The student can generalise and analyse extensive entities and relations between the concepts and theories of the experience economy. The student can search for diverse courses of action and solution alternatives and assess these alternatives. The student can cooperate responsibly, flexibly and constructively and develop his/her own and the group’s interaction.

Exam schedules

No exam

Assessment methods and criteria

Individual working, team working, discussion. Understanding experience economy, identifying characteristics and nature of it (and tourism business), applying academic material and reflecting it in business planning.

Assessment scale

0-5

Teaching methods

The course combines face to face and online meetings, reading, discussion and peer-to-peer interaction as well as a team work assignment. The assignment is completed in small groups; the IB student teams are split into two small groups of 3-4 students.

Learning materials

See Moodle (available in Autumn 2023)
for the most relevant material on experience economy. Also additional inspirational material will be given. It is recommended that the student also acquires own suitable material for one's own learning and the task at hand.

Student workload

2 ECTS equals 54 hours of student work. The work load is divided between teacher driven sessions as well as group and individual work. Contact session (3 x 2 h = 6 hours), individual reading tasks and material search (~12 hours) and team work assignment (36 hours).
See detailed schedule in Moodle (available in Autumn 2023)

Content scheduling

See Moodle schedule (available in Autumn 2023)

Completion alternatives

No alternative means of completion.

International connections

International student teams

Further information

Team work otcomes (Analysis paper) will be assessed as a group outcome (group members receiving the same grade). Make sure that your personal output/commitment is proper enough. Group is free to set extra task(s) for those who are not participating group work and also free to inform teacher of possible lower grade suggestion in such a case. Task must be submitted in time! Discuss with teacher beforehand, if extra time is needed.

Assessment criteria - fail (0) (Not in use, Look at the Assessment criteria above)

No participation or poor participating in team working (peer evaluation). Task description is not followed. Student is not able to apply the experience economy (and tourism) principles/theories, student is not able to understand and apply material presented.

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

Student is partly following the task description and/or understanding and applying the experience economy (and tourism) principles/theories. Student is able to discuss and consider only few characteristics when conducting the tasks. Material presented for the tasks is only partly applied and understood.

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

Student is following the task description and understands and applies theories of experience economy (and tourism). Student is able to consider and discuss most of the significant characteristics of experience economy (and tourism) and presents examples. Material presented for the tasks is well applied.

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

Student implements thorough understanding of the experience economy (and tourism) concepts and characteristics and is able to apply these fluently in business planning. Discussing and reflecting the ideas and characteristics of experience economy (and tourism) is fluent by various examples and own, new ideas or perspectives. Material presented for the tasks is carefully applied.