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Economic impact studies

In: Teaching Cultural Economics

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  • Trine Bille

Abstract

Economic impact studies are frequently used to show the economic impact of a cultural institution or an event in terms of increased employment and turnover. Both the arts sector and politicians have used these studies to argue for public support. The chapter describes the method and its limitations. The underlying theory in the form of input–output models and multiplier effects are explained, as well as the method’s limitations when it comes to serving as an argument for public support. The method is discussed in detail based on a case study, namely an economic impact study of ‘Aarhus, Denmark, the European Capital of Culture, 2017’.

Suggested Citation

  • Trine Bille, 2020. "Economic impact studies," Chapters, in: Trine Bille & Anna Mignosa & Ruth Towse (ed.), Teaching Cultural Economics, chapter 10, pages 69-77, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18414_10
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    Keywords

    Economics and Finance; Teaching Methods;

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