By Ruth Towse
What determines the cost drop of a pop live performance or an opera? Why does Hollywood dominate the movie undefined? Does unlawful downloading harm the checklist undefined? Does unfastened access to museums deliver extra viewers? In A Textbook of Cultural Economics, one of many world's major cultural economists indicates how we will be able to use the theories and strategies of economics to reply to those and a number of different questions about the arts (performing arts, visible arts, and literature), history (museums and outfitted history) and artistic industries (the song, publishing, and movie industries, broadcasting). utilizing overseas examples and protecting the main up to date examine, the e-book doesn't think a previous wisdom of economics. it's perfect for college kids taking a direction at the economics of arts as a part of an arts management, enterprise, administration, or economics measure.
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Extra resources for A Textbook of Cultural Economics
Property rights approach (contract theory) The property rights approach is loosely connected to transaction cost economics and looks at the transfer of property rights when transactions take place. It may also be called contract theory, because it analyses the type of contracts that occur between the parties concerned so that the incentives exist for each to complete the deal satisfactorily. Property rights include intellectual property rights, such as copyright, which exist in almost every cultural good.
Chapter 4 is on the economic organisation of the creative industries. Chapter 5 deals with the production and supply of creative goods and services, and chapter 6 similarly deals with the consumption, participation and demand aspects. Chapter 7 looks at the way cultural economics analyses policy using welfare economics. These chapters therefore lay the foundation for analysing and understanding the creative industries studied in subsequent chapters. 1 Introduction to cultural economics This chapter introduces cultural economics and explains how cultural economists set about analysing the cultural sector – the arts (performing arts, visual arts and literature), heritage (museums and built heritage) and the creative industries (the music, publishing and ﬁlm industries, broadcasting, and so on).
In this section, the various theoretical approaches that have been taken by cultural economists are identiﬁed and brieﬂy explained. They are macroeconomics; neoclassical economics – focusing on microeconomic theory of price theory and welfare economics; public choice theory; and transaction cost economics and property rights theory. These thumbnail sketches are included here for reference purposes and each approach is explained in more detail as it is used in the context of later chapters. Macroeconomics Macroeconomics is the study of aggregate economic variables, such as the size and growth of national income, employment and inﬂation, and it deals with economy-wide policies to achieve economic growth.