The Eco­nom­ics of Cul­ture and Tour­ism

Course content

This course will apply economic theories and methods to the cultural sector and the tourism sector. The course will show how economic theory can be used to analyze important economic problems in these sectors, both from a macro and a micro perspective. The course will introduce the economics of the public sector and welfare economics, including theoretical concepts such as market failures, externalities, public goods and common goods. Methods such as cost-benefit, economic impact studies and contingent valuation methods will be introduced and applied to study important economic problems, such the economic importance of culture and tourism in in local and regional development, cultural tourism, the economic impact of big events, sustainable cultural and economic development taking future generation into account, the non-market values of arts and culture, and the negative externalities of over-tourism.