ECONOMICS AND MANAGEMENT IN THE ARTS AND CULTURAL INDUSTRIES

The course explores the intersection of economics with the cultural and creative industries, focusing on how economic principles and policies influence the production, distribution, and consumption of cultural goods and services. The course gives students tools to understand how arts and culture function in a market-driven world while exploring the complex interplay between creativity, culture, and economics.

No prerequisites

Knowledge and understanding. Students will be able to understand the economic organization of the cultural markets, with a focus on the demand and supply of cultural services, the role of the Government and firms, the production chain and the interconnection between agents involved in the cultural markets. Applying knowledge and understanding. Students will be able to apply their knowledge to the case studies which will be analysed during the course, also within teamwork and interactive sessions. Making judgements. Students will develop the capacity to critically assess the agents’ objective functions in the cultural markets as well as the constraints and critical aspects related to the institutional background. Communication skills. At the end of the course the students will strengthen their communication skills as well as their ability to present the results of their analysis, also through the presentation and the discussion of cases. Learning skills. Through the discussion of cases students will be able to understand and actively simulate the strategies of the various parties involved.

The course covers topics like economic theories applied to culture and arts, the analysis of market dynamics in the arts and culture, cultural policy and Government involvement, creative industries and cultural entrepreneurship, cultural consumption and social impact. Furthermore, the course will encompass case studies and real-world applications.The course is aimed at students who want to gain a solid economic and managerial understanding applied to the artistic and cultural sector, and offers an interdisciplinary approach, combining economics, management, and cultural policies.

- Karol J. Borowiecki, Gray, Charles M. and Heilbrun, James, " The Economics of Art and Culture" Cambridge University Press - Ruth Towse, “A Textbook of Cultural Economics”, Cambridge University Press

Lecture slides and class discussion

Final exam and continuous assessment (student presentations, tests, Q&A sessions) The final exam is based on the topics covered during the lectures, as well as the chapters of the textbook. The student will be evaluated on the basis of the individual scores achieved in the final exam. Further details will be provided through the "Luiss Learn" platform at the beginning of the course.

Successfully completing the final exam