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Economics of Sports

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Discussing the following statement:
NFL = National Football League
EPL = English Premier League

“The NFL made more revenue than the EPL last season because the NFL imposes several regulations intended to improve competitive balance, such as salary caps, the draft, and revenue sharing. If the EPL wants to increase revenue it should also impose such regulations.”

The essay should include discussion of:
– Objectives of franchises/clubs and leagues
– Demand for sport.
– Effectiveness of labour market regulations
– The market for broadcasting rights.

Your essay should include the following:

A contextual introduction discussing the differing structures of North American and European sports leagues. (Should account for about 10% of the essay)
A main section in which the hypothesis in the statement above is subjected to an economic analysis. This section should include the four economic concepts cited above. (Should account for about 80% of the essay)
A conclusion. (Should account for about 10% of the essay)

Important point: To achieve a pass mark you must include at least TWO line diagrams or/and equations in your essay and explain these. Economic theory is explained in this course mainly by means of diagrams. To demonstrate an understanding of the material in this course, therefore, you need to include at least TWO line diagrams as stated above.

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