ECON 222 Economics of the Arts and Culture (Not offered 2008-2009)
This course uses the perspectives and tools of economics to analyze questions arising in connection with culture and the arts. What economic forces influence the creation, presentation, preservation and ownership of art and culture? Should support for the arts be provided through private patronage, private philanthropy, or public sector support? How does the mechanism of support for art affect the productivity and creativity of the artist? Does art make a good investment for an individual? If so, why do art museums require donations and public support? What are the impacts on economic vitality and local economic development of cultural and arts organizations? When these impacts arise, how can (or should) they be used for public policy?
Format: lecture, discussion. Requirements: midterm and final exam, two policy memoranda.
Prerequisite: Economics 110. Enrollment limit: 35 (expected: 30). Preference given to sophomores and juniors.
S. SHEPPARD