
Grades Higher Education, 6-8, 9-12
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Students learn about costs and revenues related to the 2016 Summer Games in Rio de Janeiro. Discussion questions about estimated benefits and costs to the host city are presented. Monetary and intangible costs and benefits are also discussed. Students conclude by preparing for a city council meeting in which they state how hosting the Olympics could be beneficial even if total revenues do not cover the monetary costs.
Discussion Questions:
Use the following tables to organize information you have on costs and benefits for this event:
Event Costs
Type of Cost |
|||
Item | Monetary (M) or Intangible (I) | Amount of Personal Cost | Local Event (L), Olympic (O), or Both (B) |
1. | |||
2. | |||
3. |
Event Benefits
Type of benefit |
|||||
Item | Monetary (M) or Intangible (I) | Direct (D) or Indirect (I) | Short term (S) or Long term (L) | Amount of Personal Benefit | Local Event (L), Olympic (O), or Both (B) |
1. | |||||
2. | |||||
3. |
For each of the costs and benefits, mark (M) if the cost is monetary or (I) if the cost is intangible, with no dollar payments involved. Then mark benefits as direct (D) or indirect (I) and short term (S) or Long term (L). You should have enough information to determine whether or not it’s worth it to host the event even if financial costs exceed the financial revenues.
Intangibles are difficult to quantify, but try to estimate the dollar value of the benefit to you personally. Write the amount in the “Amount of Personal Benefit” column.
Using the tables above, add any additional costs and benefits associated with hosting the Olympics. Use the articles you read about Nagano to help you. Label each cost as pertaining to the local event (L), the Olympics (O) or both (B).
Imagine you represent one of the five areas of concern below:
hotel, restaurant and other retail businesses
the benefits after the Games of the new facilities
job-related benefits
publicity
other benefits
Prepare a presentation for your next city council meeting in which you state how hosting the Olympics could be beneficial even if total revenues do not cover the monetary costs.
*Adapted from: Saunders, Philip and Kraft, Michael, “It Worked in Atlanta, but Will it Play in Peoria?” Senior Economist, Volume 11, No. 4, pp 10-12. Copyright (c), Council for Economic Education: New
Grades Higher Education, 6-8, 9-12
Grades 9-12
Grades Higher Education, 9-12
Grades 6-8, 9-12