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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.
Author Biography
Karol J. Borowiecki is Professor of Economics at the University of Southern Denmark. He is president-elect of the Association for Cultural Economics International, editorial board member of the Journal of Cultural Economics and Tourism Economics, and co-founder of Economists Talk Art. He shapes cultural policy by influencing some of the most important institutions in Europe, writing policy briefs, and speaking to the public and media. Charles M. Gray is Professor Emeritus of Business Economics at the Opus College of Business and Senior Fellow at the Center for the Common Good at the University of St. Thomas in Minnesota. He is a past president of the Association for Cultural Economics International and has served as a consultant to the National Endowment for the Arts. The late James Heilbrun was Professor Emeritus of Economics at Fordham University. He was an editorial board member of the Journal of Cultural Economics and a consultant to the National Endowment for the Arts.
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