Creative Economy

Learn about the fundemental societal impact of arts and culture, and how to improve decision-making in the sector by using state of the art economics.

Learn about the societal impact of arts and culture, and how to improve decision-making in the sector by applying and improving upon state-of-the-art economics.
The main objective of this minor is for students to develop an advanced understanding of:

1. economic foundations of the cultural sector;
2. the role of arts and culture in the wider economy;
3. the challenges and opportunities for those trying to make a living in the cultural sector and creative sector.

Together, we will probe preconceived ideas and develop new insights regarding many current, social and economic developments. We will discuss the changing and increasing role of creativity throughout contemporary society. We will address the apparent tension between financial interests and cultural values, and how stakeholders throughout the cultural sector cope with this tension. We will learn about the peculiar practices found in the art market, about marketing and organization of the cultural sector, and about the inner workings of cultural organizations. On this basis, students will develop novel and original ideas on how to cultivate creative processes and how to successfully integrate them with other societal developments. Overall, this Minor will be useful and inspirational for students of virtually any Major.

Students will acquire fundamental knowledge and develop their own, original takes on the following issues:

• What are the main challenges and opportunities associated with current developments in the arts and the wider creative economy, from globalization to generative AI?
• What are the particularities of cultural organizations, and how do they manage to generate synergies between cultural values, commercial values, and other social concerns?
• How to apply state-of-the-art economics to improve decision-making in the cultural sector?
• What are the apparent limitations of standard economics that ought to be overcome to better appreciate the workings of the creative economy and promote its contribution to society at large?

Proficiency in spoken and written English is essential. We advise a VWO-final examination grade of 7 or higher, a TOEFL-test minimum score of 100 or an IELTS-test minimum score of 7.

Teaching method
Lectures and seminars

Teaching material
Relevant articles and chapters, video.

Examination
Module 1 - The Cultural Economic Perspective:****
group presentation (30%)
final essay (70%)

Module 2 - Money and the Fine Arts:****
group presentation (30%)
class participation (10%)
final exam (60%)

Module 3 - Creative Economy and Creative Organizations:****
group presentation (30%)
final essay (70%)

Composition of final grade
Module 1 - The Cultural Economic Perspective:****
group presentation (30%)
final essay (70%)

Module 2 - Money and the Fine Arts:****
group presentation (30%)
class participation (10%)
final exam (60%)

Module 3 - Creative Economy and Creative Organizations:****
group presentation (30%)
final essay (70%)

Minor students should obtain a pass mark for each of the three modules; it is not possible to compensate for a score below the pass mark.