Economics of The Visual Arts

(3 Credits)

Course focuses on the fundamentals of applied microeconomics to the production, pricing, selling, and reselling of works of art. Topics include the production economics of the artist’s studio and analysis of art markets in terms of supply and demand, property rights, and other concepts from microeconomics and related business strategy. The course applies economic analysis to for-profits (galleries and auction houses), non-profits (museums), and hybrid models (technology-driven start-ups/artist-led social-practice)