FACULTY OF BUSINESS

Department of Economics

ECON 450 | Course Introduction and Application Information

Course Name
Cultural Economics
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
ECON 450
Fall/Spring
3
0
3
5

Prerequisites
None
Course Language
English
Course Type
Elective
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course -
Course Coordinator
Course Lecturer(s)
Assistant(s) -
Course Objectives This course aims to apply economic analysis to the heritage, performing arts and other creative arts through investigating the behaviours of producers, consumers, government and private sector in cultural industries.
Learning Outcomes The students who succeeded in this course;
  • Discuss the relationship between culture and development
  • Explain the demand and supply dynamics in cultural industries.
  • List the characteristics of the culture sector
  • Apply the techniques of microeconomics to cultural industries and goods.
  • Describe the characteristics of cultural goods.
Course Description Size of cultural industries, the microeconomics of demand and supply, public policy towards the arts and culture, the relationship between culture, economy and society

 



Course Category

Core Courses
Major Area Courses
X
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 Introduction Chapter 1
2 An overview of the arts sector Chapter 2
3 Growth of the arts sector. Chapter 3
4 Consumer demand in arts sector Chapter 4
5 The characteristics of arts demand and their policy implications Chapter 5
6 Production in the performing arts Chapter 6
7 Firms and markets in the performing arts Chapter 7
8 Productivity lag and financial problem of the arts Chapter 8
9 Midterm Exam
10 Should government subsidize the arts? Chapter 11
11 Public and/or private support for the arts in the United States and Canada. Chapter 12
12 Public and/or private support for the arts in the Western Europe. Chapter 12
13 Direct public support for the arts in Turkey.
14 The arts as a profession: Education, training and employment. Chapter 14
15 The role of the arts in a local economy. Chapter 15
16 Review of the Semester

 

Course Notes/Textbooks

The Economics of Art and Culture, 2nd Edition by James Heilbrun and Charles M. Gray (2001).

Suggested Readings/Materials

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
15
10
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
30
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
30
Final Exam
1
30
Total

Weighting of Semester Activities on the Final Grade
18
70
Weighting of End-of-Semester Activities on the Final Grade
1
30
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
16
2
32
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
1
10
10
Presentation / Jury
0
Project
1
20
20
Seminar / Workshop
0
Oral Exam
0
Midterms
1
15
15
Final Exam
1
25
25
    Total
150

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire a sound knowledge of fundamental concepts, theories, principles and methods of investigation specific to the economic field.

X
2

To be able to apply adequate mathematical, econometric, statistical and data analysis models to process economic data and to implement scientific research for development of economic policies.

X
3

To be able to participate in academic, professional, regional, and global networks and to utilize these networks efficiently.

X
4

To be able to have adequate social responsibility with regards to the needs of the society and to organize the activities to influence social dynamics in line with social goals.

X
5

To be able to integrate the knowledge and training acquired during the university education with personal education and produce a synthesis of knowledge one requires.

X
6

To be able to evaluate his/her advance level educational needs and do necessary planning to fulfill those needs through the acquired capability to think analytically and critically.

X
7

To be able to acquire necessary skills to integrate social dynamics into economic process both as an input and an output.

X
8

To be able to link accumulated knowledge acquired during the university education with historical and cultural qualities of the society and be able to convey it to different strata of society.

X
9

To be able to take the responsibility as an individual and as a team member.

X
10

To be able to attain social, scientific and ethical values at the data collection, interpretation and dissemination stages of economic analysis.

X
11

To be able to collect data in economics and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1)

X
12

To be able to speak a second foreign at a medium level of fluency efficiently.

X
13

To be able to relate the knowledge accumulated throughout human history to their field of economics.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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