Economics and economic problems of the art market (m) (2011/2012)

Learning outcomes

We want to focus on many aspects of the relationship between arts and the economy. It is necessary the economic analysis in order to better understand the complex word of art. We present a personal survey of art economics and we introduce the particular characteristics of the economic approach to culture. So we deal with various peculiarities of “cultural goods”, of museums and performing arts. We discuss how the arts can be supported by the public, whether the arts may be left to democratic decisions, and how artistic creativity is affected by government support. We emphasize the nature of investment in arts and we discuss about the emerging role of art advisor.

Preliminary conditions: Elementary mathematics

Contents: Combining Arts and Economics. The product cycle; the artistic cycle. Externalities. The concept of utility, the marginal and total utility; the Paretian approach. The concept of costs; the fixed cost, variable cost and total costs. The role of collectors. The importance of galleries. Performing arts, Baumol’s Disease, Museums, Special Exhibitions, Festivals, Art Investment and Financial Investment. Problems about cultural property. The Reproducible Arts.


Adopted Books
Nardi Spiller C., 2005, Incontro con l’economia dell’arte, Torino, G.Giappichelli.
Nardi Spiller C. e Savi P., 2010, La dimensione economica e territoriale dell’attività umana, Verona, QuiEdit.
Candela G. e Scorcu A., 2004, Economia delle arti, Bologna, Zanichelli.
Frey B.S., Arts & Economics, Heilderberg-New York, Springer-Verlag.
Santagata W., La fabbrica della cultura. Ritrovare la creatività per aiutare lo sviluppo del Paese, Bologna, Il Mulino, 2007.
Notes taken by the scholars during the course.

Other Possible Books
Vicari Haddock S., La città contemporanea, Bologna, Il Mulino, 2004.
Heinich N., La sociologia dell’arte, Bologna, Il Mulino, 2004.
Poli F., Il sistema dell’arte contemporanea, Bari, Laterza, 2008.

Teaching Methods: Frontal lessons, slides, photocopies and short essays. The first part of examination is about what is discussed during the lessons, the second part concern the presentation and discussion about the personal short essay.

Oral Examinations and short thesis.