Ways to Teach Topics on Sports Finance

Teaching sports finance, or sports economics, is a relatively new area of education with college campuses increasingly offering more courses in the field. Despite the growth of these courses, many professors struggle with lesson plans because they are trained primarily in economics or finance and have merely volunteered to teach new classes on campus. Likewise, sports management majors taking a sports finance class often lack an economics education that can also make teaching sports finance challenging. Nonetheless, there are several ways to teach sports finance to prevent problems for professors and students.
  1. Textbook

    • Most students are familiar with, and accustomed to, using a textbook to supplement their classroom education. Selecting a sports finance textbook, such as "Sports Economics" or "The Economics of Sport," provides teachers with an array of topics to cover throughout the semester including basic required material, such as microeconomics, macroeconomics and accounting principles. Assigning readings prior to lectures allows students to gain basic information about the lecture topic and allows in-class time to be spent answering questions or presenting topics in further detail. Textbooks are updated frequently so that they include relevant and emerging trends in the field.

    Field Trip

    • Field trips are not just for young students. Rather, as students mature, they are often viewed as an opportunity to gain exposure to professionals who put classroom knowledge into practice. If you are teaching sports finance in an area that has a professional sports team, consider planning a trip to the team's facility and requesting a visit with the team's upper management. These professionals can explain to students how finances and economics affect a team on a day-to-day basis and can provide a sampling of career prospects for students.

    Expectations

    • A professor teaching sports finance must manage and meet the expectations of his students. Since most professors come from a pure economics and finance background, it's important to teach the class with the students in mind. This means that you must acknowledge and accept that students have less interest in the finance side than the sporting side of the business and tailor your lectures accordingly. Complex concepts and mathematical formulas should be avoided and a narrative teaching style that explains how finances affect a sports team should be adopted.

    Projects

    • Many students learn best by researching information or by applying learned principles. As part of your sports finance curriculum, frequently assign projects to students that require them to conduct their own research in the field and to draw their own conclusions. Granting students permission to create the subject matter of their project increases the odds that they will find it worthy and interesting, but state the the subject matter of the project must be approved by you so that you ensure that it is related to the profits (or failure to profit) of a sports team.

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