INTRODUCTION TO ECONOMICS OF ART AND CULTURE II

The course Introduction to the Economics of Art and Culture is taught in two modules, in order to enable students to learn both the general foundations of microeconomic theory and the application of these foundations to a wide field such as that of cultural production and consumption.
The second part deepens the concepts that have been developed in the first part of the course. The general notions of supply and demand for arts and cultural goods will be taken into account in their application to the cultural sectors; the economic concepts of market will guide the cultural interaction among users and suppliers.

Knowledge of the basic microeconomic fundamentals of the behaviour of cultural enterprises in the market, to allow elements of analysis in the cultural and artistic sectors.

There are no prerequisites, but the content of Module I is considered to have been acquired.

1. Markets for cultural goods.
2. Competitive equilibrium and monopoly.
3. Asymmetrical information.
4. Performing arts, cinema, television, books, music.
5. Art markets.

Guido Candela, Antonello E. Scorcu, Economia delle arti, Zanichelli, Bologna 2004 and following editions, chapters 7-13 (pp. 130-313) excluding boxes at pp. 136-137, 179-180, 192-193, 198, 223, 258, 271, 279-280, 305-306, 310-311.
D. Bernheim, M. Whinston, Microeconomia, Mc-Graw Hill Italia, 2013 - or its English edition - chapters 13 (Equilibrium and efficiency), 16 (Monopoly), 17 (Pricing policies), 19 (Externalities and public goods), 20 (Asymmetric information).
Non-attending students also have to study a supplementary text: Françoise Benhamou, L’economia della cultura, il Mulino, Bologna 2012, pp. 47-123.

Many lessons will be taught with the aid of powerpoint presentations, which will be made available on Moodle after each lesson.
The textbook of microeconomics is an OPTION for any student regularly (i.e. more than 70% of the module) attending the course: the lectures will offer the necessary information, and students can test their comprehension on the textbook.
This textbook is instead MANDATORY for any student who's not regularly attending lectures.
Other English books have to be arranged with the teacher.

The exam consists in a written test, which asks to expose some topics that have been analysed in class and individually studied in the textbook(s).
The test consists of six questions. Graphs and formulas are requested in microeconomics questions (which constitute at least one of the six). Obviously, while the examination is in progress it is not permitted to use any book, notes or electronic device of any kind (any calculators excluded); students are requested to leave their bags and backpacks at the sides of the classroom before the test begin. The desk must be completely clear even under the table.
Students can obtain the minimum grade (18/30) if they are able to correctly answer three questions out of six and one on economic theory. In a correct answer the student proves to master the argument, to describe it in its complexity with the appropriate terms, and to provide all the relevant information to frame it in the context of the discipline.
The duration of the written test is 1 hour and 15 minutes.

Lectures.
Presentation of case studies.
Classroom discussions.
Students are encouraged to attend classes.

Italian

written

This subject deals with topics related to the macro-area "Cities, infrastructure and social capital" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development