Course description
The main aim of this course is to enable students to understand and critically analyze cultural phenomena in the contemporary world through economic and management lenses. The course will enable students to comprehend the strengths and weaknesses of managerial and economic approaches in the field of culture. Participants of the course will be able to apply different research methods in cultural economic decision making and for policy analysis at the micro and macro level.
Doing so the course is structured into the following main parts:
1. Culture and social development (Cultural economics. Cultural context of economics. The role of culture in the socio-economic development. Culture and economic performance. Institutions and culture. Culture as a public and private good. Cultural capital and other forms of capital. Culture and sustainable development. The role of culture in the development of market society. Capitalism as economic system and the role of culture within).
2. The role of the market in culture (Problem of choice. Consumption of cultural goods and services. Supply and demand of cultural goods and services. Elasticity of demand. Valorization and pricing. Theories of value. Economic and cultural value. Economic valuation methods. The role of competition /cooperation. Commercialization of culture and cultural markets).
3. Evaluation of the cultural policies (Government and local support in culture and public finance issues. Objectives and evaluation. Economic effects of cultural policies. Economics of cultural policy. Practical problems in implementation and evaluation of cultural policies. Public/private financing of cultural goods).
4. Management in cultural organizations (Theories of Organization and management of cultural organizations. Legal, financial and organizational aspects of cultural organizations. Capital gathering and financing. Market position. Managerial methods in cultural organizations and strategic management. Culture of organizations as an organizational culture).
5. Entrepreneurship and cultural industry (Economics of creativity. Entrepreneurship in culture. Development of business opportunities in culture. Business models in culture. Creative industries and start-up’s in cultural sector).
6. Labor market in culture and art (Economics of labor market in culture. Special features of work in culture. Regulation of the labor market. Income inequalities and precarious forms of work, Clustering in various artistic professions).
7. Economics of cultural tourism (The role of cities and cultural heritage. Economics of cultural heritage. Cultural tourism and destination management in cultural supply)
8. Internalization of cultural goods (Globalization trend. Internalization of cultural goods. Export of cultural goods. Import of cultural goods)

Learning outcomes
After completing this course, students will be able to:
- Learn the history and development of cultural economics as a scientific discipline.
- Develop the ability to understand and critically analyze cultural phenomena through economic and management lenses.
- Develop the ability to apply various research methods in the analysis of cultural phenomena.
- Prepare students for individual research work in culture and art.
- Prepare students for competent cultural-economic decision making in organizations and decision bodies.

Teaching methods and evaluation methods (in person)
The course includes lectures and class discussions (Debate “pro et contra”). Each week, the students will be given reading assignments for the following lecture in order to actively participate at the course. Students will be invited to propose issues that have been raised in their country of origin or of their special interest.
Two teams of students shall be required to prepare by the following week a public debate »pro et contra« on the selected topic. Both teams shall present their arguments during a public debate following a previously defined protocol. Cross examination allows the two teams to challenge the opponents, request clarification of arguments and refute their claims. The forum with other students in the class, taking place at the end of the discussion, shall have a similar form. After the end of the debate, the class shall select the winning team by raising hands (score bonus).
The written report is a prerequisite for taking part in the debate and it shall be the basis for the final assessment of each team's work. All other students (not actively engaged in the debate groups) have to write their weekly reports in which they will argument their positions regarding the thesis.

Teaching methods and evaluation methods (remote)
The course includes on line-lectures and on-line class discussions (Debate “pro et contra”). Each week, the students will be given reading assignments for the following lecture in order to actively participate at the course. Students will be invited to propose issues that have been raised in their country of origin or of their special interest.
Two teams of students shall be required to prepare by the following week a public debate »pro et contra« on the selected topic. Both teams shall present their arguments during on-line public debate following a previously defined protocol. Cross examination allows the two teams to challenge the opponents, request clarification of arguments and refute their claims. The forum with other students, taking place at the end of the on-line discussion, shall have a similar form. After the end of the debate, the class shall select the winning team (score bonus).
The written report is a prerequisite for taking part in the debate and it shall be the basis for the final assessment of each team's work. All other students (not actively engaged in the debate groups) have to write their weekly reports in which they will argument their positions regarding the thesis.

Evaluation and scoring
- Written final exam: 50%
- Weekly reports (individual work) and active class participation: 25%
- Debate “pro et contra” (group work): 25%

Bibliography (selected chapters and readings)
EINARRSON, AGUST, (2016), Cultural economics, Bifröst University
FREY, B.S., (2019), Economics of Art and Culture, Springer International Publishing
GINSBURGH, V.G., (2004), Economics of Art and Culture, Elsevier
ROBERTSON ,IAIN, (2005), Understanding International Art Markets and Management, Routhledge
THROSBY, DAVID, (2001), Economics and Culture, Cambridge, Cambridge University Press
TOWSE, RUTH, (2010), A Textbook of Cultural Economics, New York and Cambridge, Cambridge University Press
Debate topics
Supplementary texts/articles