CO4015 Economics of Preservation and Heritage Syllabus:
CO4015 Economics of Preservation and Heritage Syllabus – Anna University PG Syllabus Regulation 2021
OBJECTIVES:
1. This course discusses the conceptual framework of the critical area of the economics of heritage, and its centrality for heritage resource management and sustainable development.
2. The course covers techniques of cost-benefit analysis and economic viability for individual historic sites and historic housing, urban conservation, cultural landscapes.
3. To understand the role of historic preservation in economic development
4. It seeks to identify a finite number of indicators that can be used to regularly, consistently, meaningfully and credibly measure the economic impact of Historic preservation over time.
5. To understand the positive impact of historic preservation on the economy through case studies
UNIT I INTRODUCTION
Economic sustainability for heritage conservation: Basic economic concepts related to heritage, creating bridges between heritage and economics, economic mechanisms for the implementation of heritage conservation from policies to projects.
UNIT II UNDERSTANDING HERITAGE RESOURCES
Concepts of Cultural Capital: Core issues and techniques that determine value embodied in or generated by heritage resources; Types of values of heritage, Measurement and quantification of costs and benefits of heritage conservation in economic terms.
UNIT III EVALUTATION OF HERITAGE RESOURCES AND FINANCING
Non-market evaluation techniques for Heritage resources – Travel Cost, Contingent Valuation, Hedonic Pricing, Combined Methods, Choice Modelling – Problems and issues of funding heritage conservation, and Existing programmes for financing
UNIT IV CASE STUDIES: BASED ON ECONOMIC VIABILITY
Assessment of economic viability of conservation projects: National & International case studies
UNIT V CASESTUDIES
Project on valuation of heritage resources – Case studies of innovative conservation financing mechanisms and programmes.
TOTAL: 45 PERIODS
COURSE OUTCOMES:
Students should be able to
CO1 Relate and understand the importance of economics with respect to heritage
CO2 Explain and gain knowledge of evaluating heritage resources and preservation as an economic tool.
CO3 Appling economic methods to historic preservation, when there is a mix of cultural and economic values embodied in the preservation activity.
CO4 Analyze the effects of historic preservation investment on a regional economy.
CO5 Build case studies in the form of reports, reviews and tutorials with suitable illustrations.
REFERENCES:
1. Economics of Historic Preservation: A Community Leader’s Guide by Donovan D. Rypkema
2. Measuring the Economics of Preservation – Full Report, Recent Findings & Executive Summary by Advisory Council of Historic Preservation, 2011
3. The Economics and Finance of Cultural Heritage: How to Make Tourist Attractions a Regional Economic Resource by Vincenzo Pacelli
4. Handbook on the Economics of Cultural Heritage by Edited by Ilde Rizzo, Professor of Public Finance, University of Catania, Italy and Anna Mignosa, Assistant Professor of Economics, University of Catania, Italy and Erasmus University Rotterdam, the Netherlands