Learning objectives

The course will provide the basic knowledge to understand the functioning of an economic system, analysing in particular the size and role of the art sector with its artistic-cultural goods. Lectures will be partly theoretical and partly empirical, addressed both from the demand side and from the supply side. They will be introduced by an analysis of the historical evolution of economic thought - and of the relative schools of thought – concerning the topic. The age-old dilemma between state and market in promoting these goods will be emphasized. The role of economic policies in supporting the sector will be explored, when market failures occurred or when art is to be promoted, beyond its strictly economic impact. The student at the end of the course will be able to evaluate how the art sector is connected to the rest of the economy, its degree of contribution to economic wealth and employment, the factors that determine the price of artistic-cultural goods and the dilemmas that economically they pose to the market, making public intervention useful, if not necessary, in supporting the sector.