Information Package / Course Catalogue
Culture and Arts Economics
Course Code: ML461
Course Type: Non Departmental Elective
Couse Group: First Cycle (Bachelor's Degree)
Education Language: Turkish
Work Placement: N/A
Theory: 3
Prt.: 0
Credit: 3
Lab: 0
ECTS: 5
Objectives of the Course

The Culture and Art Economy course aims to understand the economic dimensions of cultural and artistic activities. It provides knowledge about the structure, production processes, and financing models of cultural industries. It helps analyze the role of culture and art in economic development. It also encourages reflection on the sustainability of creative sectors and their relationship with public policies.

Course Content

This course aims to conduct an economic analysis of the fields of art and culture. It covers the supply and demand dynamics of cultural goods, pricing mechanisms, and public interventions. Topics include art markets, museums, cultural heritage, creative industries, and copyright. The course also focuses on artists’ position in the labor market and the measurement of the cultural economy. It seeks to evaluate the economic impact of cultural policies and understand the social returns of cultural investments.

Name of Lecturer(s)
Learning Outcomes
1.The student can explain the economic foundations of culture and art. They analyze the place of cultural goods and services in the market. They can evaluate cultural consumption and production processes from an economic perspective.
2.The student identifies how art markets function and how artworks are valued. They can discuss the economic roles of actors such as galleries, auctions, and collectors. They explain how the economic value of art is determined.
3.The student analyzes the impact of public policies in the cultural sectors. They critically assess government support mechanisms and subsidies. They can interpret the social and economic effects of cultural policies.
4.The student explains the structure and functioning of creative industries. They compare economic models in fields such as music, film, publishing, and digital arts. They evaluate the growth dynamics of these sectors.
5.he student can use data and indicators to measure the cultural economy. They conduct economic impact analyses to evaluate the cost-benefit relationship of cultural projects. They gain the ability to make assessments through concrete examples.
Recommended or Required Reading
1.Borowiecki, K. J., Gray, C. M., & Heilbrun, J. (2023). The Economics of Art and Culture (3rd ed.). Cambridge: Cambridge University Press.
2.Akdede, Sacit Hadi (2022).Kültür ve Sanat Ekonomisi Kavramlar, Analizler, Modeller . Ekin Yayınevi.
Weekly Detailed Course Contents
Week 1 - Theoretical
Introduction to the Economics of Art and Culture: Concepts and Key Approaches
Week 2 - Theoretical
Economic Characteristics of Cultural Goods and Services
Week 3 - Theoretical
Art and Cultural Consumption from Supply and Demand Perspectives
Week 4 - Theoretical
The Labor Economics of Artists and Cultural Producers
Week 5 - Theoretical
Art Markets: Galleries, Auctions, and the Valuation of Artworks
Week 6 - Theoretical
Public Intervention: Cultural Expenditures and Government Support
Week 7 - Theoretical
The Economics of Cultural Heritage: Preservation, Valuation, and Investment
Week 8 - Theoretical
The Economic Structure of Museums, Theaters, and Libraries
Week 9 - Theoretical
Creative Industries: Music, Film, Publishing, and Digital Arts
Week 10 - Theoretical
Copyright and the Economic Dimensions of Intellectual Property
Week 11 - Theoretical
Culture and Regional Economic Development
Week 12 - Theoretical
Cultural Policies and International Practices
Week 13 - Theoretical
Measuring the Cultural Economy: Data, Indicators, and Impact Analysis
Week 14 - Theoretical
General Review, Case Studies, and Student Presentations
Assessment Methods and Criteria
Type of AssessmentCountPercent
Presentation1%10
Assignment1%10
Midterm Examination1%20
Final Examination1%60
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory143498
Assignment110212
Final Examination115116
TOTAL WORKLOAD (hours)126
Contribution of Learning Outcomes to Programme Outcomes
PÇ-1
PÇ-2
PÇ-3
PÇ-4
PÇ-5
PÇ-6
PÇ-7
PÇ-8
PÇ-9
OÇ-1
5
3
3
4
3
4
3
5
5
OÇ-2
4
4
4
5
3
5
5
3
4
OÇ-3
3
3
4
3
5
4
5
5
4
OÇ-4
3
3
4
3
5
5
5
4
5
OÇ-5
3
3
4
3
5
5
4
4
5
Adnan Menderes University - Information Package / Course Catalogue
2026