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Economics of the arts and literature or cultural economics (used below for convenience) is a branch of economics that studies the economics of creation, distribution, and the consumption of works of art, literature and similar creative and/or cultural products. For a long time, the concept of the "arts" were confined to visual arts (e.g ...
The book Performing Arts-The Economic Dilemma by William Baumol and William Bowen, [1] devoted to the economics of the performing arts, is widely regarded as the starting point for contemporary cultural economics, setting out a considerable research programme through a fairly pessimistic analysis of the sustainability of the performing arts.
Karl Marx; Das Kapital, 1867; Das Kapital on Wikisource; Annotations, Explanations and Clarifications to Capital.; Description: A political-economic treatise by Karl Marx.Marx wrote this critical analysis of capitalism and of the political economy from the perspective of historical materialism, the view that history can be understood as a sequence of modes of production in which exploiting ...
Europe began to recognise culture's economic elements and to develop the concepts of cultural industries and creative industries in the 1990s. These prioritised culture, design and media. This approach was led by the British Department for Culture, Media and Sport (DCMS) which designated 14 creative industries in 1998, later reduced to 12. [10]
An art auction at Christie's. The art market is the marketplace of buyers and sellers trading commodities, services, and works of art.. The art market follows an economic model that considers more than supply and demand; it is a market where art is bought and sold for values based not only on a work's perceived cultural value, but on its past monetary value as well as its predicted future value.
Cultural economics is the branch of economics that studies the relation of culture to economic outcomes. Here, 'culture' is defined by shared beliefs and preferences of respective groups. Programmatic issues include whether and how much culture matters as to economic outcomes and what its relation is to institutions. [ 1 ]
A key part of the project report is the evaluation of the finished product. In Years 11 and 12, Industrial Arts offers three Higher School Certificate (HSC) non-Vocational courses: Design and Technology, Engineering Studies, and Industrial Technology. Design and Technology is an extension of the junior course of the same name. The course ...
The Group 3: Individuals and societies subjects of the IB Diploma Programme consist of ten courses offered at both the Standard level (SL) and Higher level (HL): Business Management, Economics, Geography, Global Politics, History, Information technology in a global society (ITGS), Philosophy, Psychology, Social and cultural anthropology, and World religions (SL only). [1]