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Full Description
Spanning the economics of the fine arts, performing arts, and public policy, this updated classic is the go-to resource for navigating today's creative industries. Building on real-world data, engaging case studies, and cutting-edge research, it prepares students for careers in the cultural, creative, and public sectors. By avoiding mathematical treatments and explaining theories with examples, this book develops theoretical concepts from scratch, making it accessible to readers with no background in economics. While most of the theory remains timeless, this new edition covers changes in the world's economic landscapes. Updates include new sections on gender representation, cultural districts and tourism, digital broadcasting and streaming, how technology impacts the arts, and arts management and strategy. The authors demonstrate data-driven decision-making using examples and cases from various databases. Students learn to assess academic results and apply the learned material using the discussion questions and problem sets.
Contents
Contents; Part I. The Arts Sector in the Economy: Size, Growth, and Significance: 1. An Overview of the Arts Sector; 2. Growth of the Arts Sector; 3. Audiences for the Arts; Part II. The Microeconomics of Demand and Supply: 4. Consumer Demand: An Introduction; 5. Elasticities of Arts Demand and Their Policy Implications; 6. Production and Cost in the Performing Arts; 7. Firms and Markets in the Performing Arts; 8. Productivity Lag and the Financial Problem of the Arts; 9. Economics of Arts Management and Strategy; Part III. The Fine Arts and Museums: 10. The Market in Works of Art; 11. The Economics of Art Museums; Part IV. Public Policy and Support for the Arts: 12. Theory and Practice of Government Support for the Arts; 13. Private Support for the Arts; Part V. Art, Economy, and Society: 14. The Arts as a Profession: Education, Training, and Employment; 15. The Role of the Arts in a Local Economy; 16. The Mass Media, Digital Access, and the Cultivation of Taste; 17. Innovation, Diversity, and the Future of Art and Culture; Bibliography; Index.