Economics of Heritage

Governmental resources for archaeological and heritage sites are declining worldwide while commercial and economic development initiatives are threatening the fabric of heritage and the larger landscape environment to ever greater degrees. As a consequence, the competition for resources to protect and preserve heritage is intensifying, as is the challenge to articulate the value of heritage resources vs. competing commercial or public projects. This is the context for understanding the issues surrounding the definition of the value of cultural heritage assets and the tools available for their measurement and management. This course explores in some depth issues relating to the economic analysis of heritage and culture. It is designed to provide students with a foundational understanding of the economics of heritage-related projects, the tools and techniques available for their analysis and the ethical and practical issues of public policy and private actions that determine the future of heritage resources. Readings and case studies will explore technical, practical and ethical issues that arise in cultural heritageeconomics. Relevant analytical techniques will be introduced and particular emphasis will be placed on commercial, government and community issues unique to heritage-related activities. Special emphasis will be placed upon developing pertinent strategies for the tourist industry. Students will produce one case-study project intended to integrate the technical and practical aspects of the course.