Accreditations
The study plan aims to offer both theoretical and practical training. It provides specific training in the domain of the art markets (structure, dynamics, tendencies, collecting, curating, validation and appraisal), as well as an introductory training in management (marketing, accounting, finance and financial investments, entrepreneurship). It also includes study visits and direct contact with relevant professionals of the sector as invited speakers. Students have also the opportunity to complete a curricular internship in an organization of this industry in Portugal or abroad.
Programme Structure for 2024/2025
| Curricular Courses | Credits | |
|---|---|---|
| 1st Year | ||
|
Accountability and Finance Foundation
6.0 ECTS
|
||
|
Management Foundations
6.0 ECTS
|
||
|
Financial Investments in Works of Art
6.0 ECTS
|
||
|
Marketing in Art Markets
6.0 ECTS
|
||
|
Art Market: Structure and Dynamics
6.0 ECTS
|
||
|
Appraisal and Evaluation of Works of Art
6.0 ECTS
|
||
|
Collections and Curatorship
6.0 ECTS
|
||
|
Cultural Entrepreneurship
6.0 ECTS
|
||
|
Internacional Art Markerts
6.0 ECTS
|
||
| 2nd Year | ||
|
Art Markets Practices
6.0 ECTS
|
||
|
Dissertation in Art Markets
54.0 ECTS
|
||
|
Internship in Art Markets
54.0 ECTS
|
||
|
Project Work in Art Markets
54.0 ECTS
|
Accountability and Finance Foundation
At the end of this course, students should be able to:
LO1. Define the objective of financial accounting and the basic accounting equation.
LO2. Explain the effect of decisions and business transactions on the accounting equation.
LO3. Explain the concepts of direct and indirect costs, relevant and irrelevant costs, and incremental profits and costs.
LO4. Explain the concepts of profitability, working capital and solvency.
Chapter 1. Investing and financing decisions
1.1. Overview of accounting concepts: Assets, liabilities and equity
1.2. How to analyze the balance
Chapter 2. Operating decisions
2.1. Basic concepts: Costs, revenues, profit and loss
2.2. How to analyze the income statement
Chapter 3 - Costs and decision-making
3.1. Direct and indirect costs
3.2. Allocation of indirect costs
3.3. Fixed and variable costs
3.4. Relevant and irrelevant costs
3.5. Incremental costs and profits
3.6. Opportunity costs
Chapter 4 - Fundamentals of finance
4.1. Profitability
4.2. Working capital
4.3. Solvency
There are two different processes of evaluation:
1. Assessment throughout the semester:
- Group work assignment with oral discussion (40%)
- Individual assessment test (60%)
Requirements:
- At least 70% class attendance
- Completion of the group work assignment
- Access to the final exam requires a minimum of 10 points in the group work assignment.
- Minimum grade of 8 points in the individual assessment test.
2. Final sitting exam (100%)
A minimum score of 10 points on the exam is required for approval.
Title: Drury. C., Management and Cost Accounting, 2023, 12th Edition, Cengage Learning,
Fraser, L. and Ormiston, A., Understanding Financial Statements, 2023, 12th Edition, Pearson,
Authors:
Reference: null
Year:
Title: Libby, R, Libby, P. and Hodge, F., Financial Accounting - International Edition, 2022, Eleventh Edition, McGraw Hill,
Miller-Nobles, T. and Matisson, B., Horngren’s Accounting, 2024, 14th Edition, Pearson,
Garrison, R., Noreen, E. and Brewer, P., Managerial Accounting, 2023, 18th Edition, McGraw-Hill,
Authors:
Reference: null
Year:
Management Foundations
At the end of this learning units term, the student must be able to:
1. Identify the models of management (or theories) and their contexts: rational goal models, bureaucratic models (internal process models), human relations models and open system models.
2. Explain and describe the beginning and development of the main theories.
3. Identify and describe organizations? Environmental components.
4. Analyze and describe the main concepts and theories in the context of the management process: Planning and decision making, Organizing, Leading, Controlling and Social Responsibility.
1. Managing in organizations
2. Models of Management
3. Organization Contexts
4. Planning
5. Decision Making
6. Organization Structure
7. Influence and Power
8. Motivation
9. Performance Measurement and Control
10. Corporate Responsibility
Evaluation may be continuous or final.
Continuous evaluation entails the instruments:
Class participation and attendance - 10%
Work - 20%
Final test - 70% (the test mark must be at least 8).
Students may opt for a final written exam (two dates) at the end of the semester.
Title: BODDY, David (2016). Management, an Introduction, 7th Edition ( Prentice Hall)
Authors:
Reference: null
Year:
Title: -
Authors:
Reference: null
Year:
Financial Investments in Works of Art
At the end of this learning unit's term, the student must be able to:
LG1= Identify and understand the main traditional financial investments.
LG2= Explain the use of works of art as alternative financial investments.
LG3= Understand and critically discuss the main models for studying the risk and financial return in works of art
I. Financial investments: basic concepts. Risk and return.
II: Traditional financial investments: deposits, bonds, stocks.
III. Other financial investments: futures, options, forwards.
IV: Principal studies on art as a financial investment.
V. Financial investments in works of art. Isolated investments (direct investment). Art investment funds (indirect investment).
VI. Principal existing models for the study of financial return on works of art: advantages and disadvantages. Repeat sales model (Mei-Moses Index). Hedonic regression model (Artprice Index).
VII. Art as an asset and store of value: review of historic cases. Art as loan collateral. Art and wealth management.
VIII. Risk analysis for investments in art.
IX: The importance of information: data bases, algorithms, speculation, arbitrage, and bubbles in the art market.
X: The arguments for art market regulation.
Test (60%), individual essay 30%) on a topic of the program and attendance and participation (10%).
BibliographyTitle: ZORLONI, Alessia (ed.), 2016. Art Wealth Management. Managing private art collections, Cham (Suíça), Springer
ZORLONI, Alessia, 2013. The Economics of Contemporary Art: Markets, strategies, and stardom, Berlim, Springer.
VELTHUIS, Olav, 2007. Talking Prices. Symbolic meanings of prices on the market for contemporary art, Princeton e Oxford, Princeton University Press (1ª ed. 2005).
ROBERTSON, Iain, 2016. Understanding Art Markets. Inside the world of art and business, Londres, Routledge.
HARRIS, Jonathan, 2017. The Global Contemporary Art World, Oxford, Wiley Blackwell.
GERLIS, Melanie, 2014. Art as an Investment? A survey of comparative assets, Farnham, Lund Humphries.
Authors:
Reference: null
Year:
Title: VELTHUIS, Olav; COSLOR, Erica, 2012. The Financialization of Art. In Knorr Cetina, K., & Preda, A. (Eds) The Oxford Handbook of the Sociology of Finance (pp. 471-487), Oxford, Oxford University Press.
THOMPSON, Don, 2018. The Orange Balloon Dog. London, Aurum Press.
SIMÕES, Pedro, 2015. O Mercado da Arte Moderna e Contemporânea em Portugal (2005-2013). Tese de Doutoramento em História, especialização em História da Arte, apresentada à Universidade de Lisboa.
RUSH, Richard, 1961. Art as an Investment, Englewood Cliffs, Prentice-Hall.
ROZEL, Mary, 2014. The Art Collector?s Handbook. A guide to art collection and care, Farnham, Lund Humphries.
ROBERTSON, Iain; CHONG, Derek (eds.), 2008. The Art Business, Londres, Routledge.
REITLINGER, Gerald, 1964. The Economics of Taste. The rise and fall of the picture market. 1760-1960, Nova Iorque, Holt, Reinhart & Winston (1ª ed. Londres, 1961).
MOUSTAIRA, Elina, 2015. Art Collections, Private and Public: a comparative legal study, Cham (Suíça), Springer.
MELO, Alexandre, 2012. Sistema da Arte Contemporânea, Lisboa, Documenta.
McNULTY, Tom, 2014. Art Market Research: a guide to methods and sources, Jefferson (N. Carolina), McFarland & Company.
________, 2010 (ed.). Fine Art and High Finance. Expert advice on the economics of ownership, Nova Iorque, Bloomberg Press.
McANDREW, Clare, 2007. The Art Economy. An investor?s guide to the art market, Dublin, The Liffey Press.
MARTORELLA, Rosana, 1990. Corporate Art, New Brunswick, Rutgers University Press.
MEI, Jianping; MOSES, Michael, 2002. Art as an Investment and the Underperformance of Masterpieces. American Economic Review, 92(5), pp. 1656-1668.
MANDEL, Benjamin, 2009. Art as an Investment and Conspicuous Consumption Good. American Economic Review, 99(4), pp.1653-1663.
KRÄUSSL, Roman; LEHNERT, Thorsten; MARTELIN, Nicolas, 2016. Is there a bubble in the art market? Journal of Empirical Finance, 35, pp. 99-109
HOROWITZ, Noah, 2011. Art of the Deal: Contemporary Art in a Global Financial Market, Princeton, Princeton University Press
HARRIS, Jonathan, 2017. The Global Contemporary Art World, Oxford, Wiley Blackwell.
HACKFORTH-JONES, Jos; ROBERTSON, Iain (eds.), 2016. Art Business Today. 20 key topics, Farnham, Lund Humphries.
GRAMPP, William, 1989. Pricing the Priceless. Art, artists and economics, Nova Iorque, Basic Books.
GOETZMANN, William; Renneboog, Luc; Spaenjers, Christophe, 2011. Art and Money. American Economic Review: Papers and Proceedings, 101(3), pp. 222?226.
GOETZMANN, William, 1993. Accounting for Taste: Art and the Financial Markets Over Three Centuries. American Economic Review, 83(5), pp. 1370?76.
FREY, Bruno; POMMEREHNE, Werner, 1989, Art Investment: An Empirical Inquiry. Southern Economic Journal, 56, pp. 396-409.
FREY, Bruno; EICHENBERGER, Reiner, 1995. On the Rate of Return in the Art Market: Survey and Evaluation. European Economic Review, 39, pp. 528-537.
FREY, Bruno; CUENI, Reto, 2013. ?Why invest in art??, The Economists? Voice, 10 (1), pp. 1-6.
FERNANDES, Alexandra; AFONSO, Luís U. (eds.), 2012. Os Leilões e o Mercado da Arte. Estrutura, história, tendências, Lisboa, Scribe.
FERNANDES, Alexandra; AFONSO, Luís U., 2014. ?Joana Vasconcelos: managing an artist?s studio in the 21st century?, International Journal of Arts Management, 17 (1), pp. 54-64.
DEMPSTER, Anna (ed.), 2014. Risk and Uncertainty in the Art World. London, Bloomsbury Publishing.
CAMPBELL, R.A.J, 2008. Art as a Financial Investment. The Journal of Alternative Investments, 10, pp. 64-81.
BOLL, Dirk, 2011. Art for sale. A candid view of the art market, Ostfildern, Hatje Cantz Verlag.
BAUMOL, William J., 1986. Unnatural Value: or Art Investment as Floating Crap Game. The American Economic Review, 76, pp. 10-14.
ASHENFELTER, Orley; GRADDY, Kathryn, 2003. Auctions and the Price of Art. Journal of Economic Literature, 41(3), pp. 763-787.
APPLEYARD, Charlotte; SALZMANN, James, 2012. Corporate Art Collections. A handbook to corporate buying, Farnham, Lund Humphries.
_______, 2017. Dark Side of the Boom: The excesses of the art market in the 21st century, London, Lund Humphries.
ADAM, Georgina, 2014. Big Bucks. The explosion of the art market in the 21st century, Farnham, Lund Humphries.
Authors:
Reference: null
Year:
Marketing in Art Markets
At the end of this learning unit's term, the student must be able to:
LG1= Understand the concept, importance and fundamentals of Cultural Marketing.
LG2= Understand the functioning process of the art markets (interaction between all the components of the system).
LG3= Critically discuss the functioning of Marketing in the art markets.
I. Cultural and artistic marketing
II. Popular art and erudite art: History and differentiating elements
III. Offer Identification- Art and Artists
IV. Identification of the target according to the type of art
V. Cultural Brand Construction
VI. Cultural Marketing: State vs. Private Companies
VII. Art markets trends
VIII. Portugal as a cultural destination
Assessment consists in 3 elements: 1) a test with several development questions encompassing all the program (40%); 2) a commented synthesis of a book related with this CU (40%); 3) participation and assiduity (20%).
BibliographyTitle: S Botti - International Journal of Arts Management, 2000. What role for marketing in the arts? An analysis of arts consumption and artist
Robertson, Iain, 2016. Understanding Art Markets. Inside the world of art and business, Londres, Routledge
JN Kapferer - Business Horizons, 2014. The artification of luxury: From artisans to artists
J Lagier, B Godey - International Journal of Arts Management,2007.A scale for measuring aesthetic style in the field of luxury and art products
Harris, Jonathan,2017. The Global Contemporary Art World, Oxford, Wiley Blackwell.
F Colbert, Y St?James-Psychology & Marketing,2014.Research in arts marketing: evolution and future directions
F Colbert,2009.Marketing Culture and the Arts, Chair in Arts Management
Fernandes, Alexandra; AFONSO, Luís,2012 (eds.).Os Leilões e o Mercado da Arte em Portugal.Estrutura, história, tendências, Lisboa, Scribe.
Adam, Georgina,2014.Bib Bucks.The explosion of the art market in the 21st century, Farnham, Lund Humphries.
Authors:
Reference: null
Year:
Title: WITTMAN, Robert, 2011. O Mundo Secreto da Arte Roubada, Lisboa, Círculo de Leitores.
WATSON, Peter; TODESCHINI, Cecilia, 2006. The Medici Conspiracy. The illicit journey of looted antiquities. From Italy?s tomb raiders to the world?s greatest museums, Nova Iorque, Public Affairs.
VELTHUIS, Olav, 2007. Talking Prices. Symbolic meanings of prices on the market for contemporary art, Princeton e Oxford, Princeton University Press (1ª ed. 2005).
VADI, Valentina; SCHNEIDER, Hildegard, (eds.), 2014. Art, Cultural Heritage, and the Market. Ethical and legal issues, Berlim, Springer.
STOURTON, J., 2007. Great Collectors of Our Time. Art collections since 1945, Londres, Scala.
SIMÕES, Pedro, 2016. O Mercado da Arte Moderna e Contemporânea em Portugal (2005-2013). Doutoramento em História, especialização em História da Arte, FLUL.
SHINNER, Larry, 2004. La Invención del Arte. Una historia cultural, Madrid, Paidós.
ROBERTSON, Iain (ed.), 2005. Understanding International Art Markets and Management, Londres, Routledge.
ROBERTSON, Iain, 2011. A New Art from Emerging Markets, Farnham, Lund Humphries.
PROWDA, Judith, 2013. Visual Arts and the Law. A handbook for professionals, Farnham, Lund Humphries.
POLSKI, Richard, 2011. The Art Prophets: The Artists, Dealers, and Tastemakers Who Shook the Art World, Nova Iorque, Other Press.
NAIRNE, Sandy, 2011. Art Theft and the Case of the Stolen Turners, Londres, Reaktion Books.
MOUREAU, Nathalie e Dominique SAGOT-DUVAUROUX, 2006. Le marché de l?art contemporain, Paris, Découverte.
MOULIN, R., 1997. L?artiste, l?institution et le marché, Paris, Flammarion (1ª ed. 1992).
MONCADA, Miguel Cabral de, 2006. Peritagem e Identificação de Obras de Arte, s.l., Civilização Editora.
MELO, Alexandre, 1999. Arte e Mercado em Portugal: Inquérito às Galerias e Uma Carreira de Artista, Lisboa, Observatório das Actividades Culturais.
________, 2010 (ed.). Fine Art and High Finance. Expert advice on the economics of ownership, Nova Iorque, Bloomberg Press.
McANDREW, Clare, 2007. The Art Economy. An investor?s guide to the art market, Dublin, The Liffey Press.
LINDEMANN, Adam, 2006. Collecting Contemporary, Colónia, Taschen.
LENAIN, Thierry, 2011. Art Forgery. The history of a modern obsession, Londres, Reaktion Books.
HOROWITZ, Noah, 2011. Art of the Deal: Contemporary Art in a Global Financial Market, Princeton, Princeton University Press.
HEINICH, Nathalie, 2014. Le paradigme de l?art contemporain. Structures d?une révolution artistique, Gallimard.
HARGREAVES, Manuela, 2013. Colecionismo e Mercado da Arte em Portugal. O território e o mapa, Porto, Afrontamento
HACKFORTH-JONES, Jos; ROBERTSON, Iain (eds.), 2016. Art Business Today. 20 key topics, Farnham, Lund Humphries.
GRAMPP, William, 1989. Pricing the Priceless. Art, artists and economics, Nova Iorque, Basic Books.
GOODWIN, James, 2008. The International Art Markets. The essential guide for collectors and investors, Londres e Filadélfia, Kogan Page.
GINSBURGH, Victor; WEYERS, Sheila, 2008. ?On the contemporaneousness of Roger de Piles? Balance des peintres??, in J. Amariglio et al. (eds.), Sublime economy: on the intersection of art and economics, Londres, Routledge, pp. 112-123.
FERNANDES, Alexandra; AFONSO, Luís U., 2014. ?Joana Vasconcelos: managing an artist?s studio in the early 21st century?, International Journal of Arts Management, vol. 17, n. 1, 2014, pp. 54-64.
ELSNER, J.; CARDINAL, R. (eds.), 1994. The Cultures of Collecting, Londres, Reaktion Books.
DUARTE, Adelaide, 2016. Da coleção ao museu. O colecionismo privado de arte moderna e contemporânea em Portugal, Casal de Cambra, Caleidoscópio.
DICKIE, George, 1997. The Art Circle. A theory of art, Evanston, Chicago Spectrum Press.
DANTO, A. C., 1964. ?The artworld?, Journal of Philosophy, 61, pp. 571-584.
DE MARCHI, Neil; MIEGROET, Hans, 2006. ?The history of art markets?, Victor Ginsburgh e David Throsby (eds.), Handbook of the Economics of Art and Culture, vol. I, North-Holland / Elsvier, pp. 69-122.
CLUNAS, Craig, 2004. Superfluous Things. Material culture and social status in Early Modern China, Honolulu, University of Hawai?i Press.
CHARNEY, Noah (ed.), 2009. Art and Crime: Exploring the Dark Side of the Art World, Santa Barbara, Greenwood Press.
CARROL, Nöel (ed.). Theories of Art Today, Madison, University of Wisconsin Press, 2000.
BUCK, Louisa; GREER, Judith, 2006. Owning Art. The contemporary art collector?s handbook, Londres, Thames & Hudson.
BOURDIEU, Pierre; DARBEL, Alain, 1997. L?amour de l?art. Les musées d?art européens et leur public, Paris, Minuit (1ª ed. 1969).
BOURDIEU, P., 1996. La distinction. Critique sociale du jugement, Paris, Minuit (1ª ed. 1979).
BOLL, Dirk, 2011. Art for sale. A candid view of the art market, Ostfildern, Hatje Cantz Verlag.
BECKER, Howard, 1982. Art Worlds, Berkeley, University of California Press.
BAUDRILLARD, Jean, 2006. O Sistema dos Objetos, São Paulo, Perspectiva (1ª ed. 1968).
ATWOOD, Roger, 2004. Stealing History: Tomb Raiders, Smugglers, and the Looting of the Ancient World, Nova Iorque, St Martin?s Press.
APPLEYARD, Charlotte; SALZMANN, James, 2012. Corporate Art Collections. A handbook to corporate buying, Farnham, Lund Humphries.
ALFORD, Kenneth, 2011. Allied Looting in World War II: Thefts of Art, Manuscripts, Stamps and Jewelry in Europe, McFarland & Co Inc.
AFONSO, Luís, 2015. ?A China e o mercado da arte português na atualidade?. In L. F. Barreto e V. Serrão (eds.). Património Cultural Chinês em Portugal, CCCM/Fundação Jorge Álvares, pp. 215-226.
Authors:
Reference: null
Year:
Art Market: Structure and Dynamics
At the end of this learning unit's term, the student must be able to:
LG1= Understand the basic structure of the art markets (primary and secondary markets).
LG2= Understand the functioning process of the art markets (interaction between all the components of the system).
LG3= Critically discuss the structure and functioning of the art markets.
I. Introduction to the art markets.
II. Art markets history.
III. The creators.
IV. The artistic goods.
V. Offer.
VI. Demand.
VII. Cannons and conventions.
VIII. The institutionalizers.
IX. Ethics, law and crime.
X. Art markets trends.
Assessment consists of 3 elements: 1) a test with several development questions encompassing the program (40%); 2) a commented synthesis of a book related to this CU (40%); 3) participation and assiduity (20%).
BibliographyTitle: ZORLONI, Alessia, 2013. The Economics of Contemporary Art: Markets, strategies, and stardom, Berlim, Springer.
THORNTON, Sarah, 2010. Sete Dias no Mundo da Arte, Lisboa, Arcádia.
THOMPSON, Don, 2008. The $12 Million Stuffed Shark. The curious economics of contemporary art and auction houses, Londres, Aurun Press.
SCHMITT, Jean-Marie, 2008. Le Marché de l'Art, Paris, La Documentation Française.
ROBERTSON, Iain, 2016. Understanding Art Markets. Inside the world of art and business, Londres, Routledge
POLI, Francesco, 2006. Il sistema dell'arte contemporanea, Roma, Laterza (1ª ed. 1999).
MELO, Alexandre, 2012. Sistema da Arte Contemporânea, Lisboa, Documenta.
HARRIS, Jonathan, 2017. The Global Contemporary Art World, Oxford, Wiley Blackwell.
FERNANDES, Alexandra; AFONSO, Luís, 2012 (eds.). Os Leilões e o Mercado da Arte em Portugal. Estrutura, história, tendências, Lisboa, Scribe.
ADAM, Georgina, 2014. Bib Bucks. The explosion of the art market in the 21st century, Farnham, Lund Humphries.
Authors:
Reference: null
Year:
Title: WITTMAN, Robert, 2011. O Mundo Secreto da Arte Roubada, Lisboa, Círculo de Leitores.
WATSON, Peter; TODESCHINI, Cecilia, 2006. The Medici Conspiracy. The illicit journey of looted antiquities. From Italy's tomb raiders to the world's greatest museums, Nova Iorque, Public Affairs.
VELTHUIS, Olav, 2007. Talking Prices. Symbolic meanings of prices on the market for contemporary art, Princeton e Oxford, Princeton University Press (1ª ed. 2005).
VADI, Valentina; SCHNEIDER, Hildegard, (eds.), 2014. Art, Cultural Heritage, and the Market. Ethical and legal issues, Berlim, Springer.
STOURTON, J., 2007. Great Collectors of Our Time. Art collections since 1945, Londres, Scala.
SIMÕES, Pedro, 2016. O Mercado da Arte Moderna e Contemporânea em Portugal (2005-2013). Doutoramento em História, especialização em História da Arte, FLUL.
SHINNER, Larry, 2004. La Invención del Arte. Una historia cultural, Madrid, Paidós.
ROBERTSON, Iain (ed.), 2005. Understanding International Art Markets and Management, Londres, Routledge.
ROBERTSON, Iain, 2011. A New Art from Emerging Markets, Farnham, Lund Humphries.
PROWDA, Judith, 2013. Visual Arts and the Law. A handbook for professionals, Farnham, Lund Humphries.
POLSKI, Richard, 2011. The Art Prophets: The Artists, Dealers, and Tastemakers Who Shook the Art World, Nova Iorque, Other Press.
NAIRNE, Sandy, 2011. Art Theft and the Case of the Stolen Turners, Londres, Reaktion Books.
MOUREAU, Nathalie e Dominique SAGOT-DUVAUROUX, 2006. Le marché de l'art contemporain, Paris, Découverte.
MOULIN, R., 1997. L'artiste, l'institution et le marché, Paris, Flammarion (1ª ed. 1992).
MONCADA, Miguel Cabral de, 2006. Peritagem e Identificação de Obras de Arte, s.l., Civilização Editora.
MELO, Alexandre, 1999. Arte e Mercado em Portugal: Inquérito às Galerias e Uma Carreira de Artista, Lisboa, Observatório das Actividades Culturais.
________, 2010 (ed.). Fine Art and High Finance. Expert advice on the economics of ownership, Nova Iorque, Bloomberg Press.
McANDREW, Clare, 2007. The Art Economy. An investor's guide to the art market, Dublin, The Liffey Press.
LINDEMANN, Adam, 2006. Collecting Contemporary, Colónia, Taschen.
LENAIN, Thierry, 2011. Art Forgery. The history of a modern obsession, Londres, Reaktion Books.
HOROWITZ, Noah, 2011. Art of the Deal: Contemporary Art in a Global Financial Market, Princeton, Princeton University Press.
HEINICH, Nathalie, 2014. Le paradigme de l'art contemporain. Structures d'une révolution artistique, Gallimard.
HARGREAVES, Manuela, 2013. Colecionismo e Mercado da Arte em Portugal. O território e o mapa, Porto, Afrontamento
HACKFORTH-JONES, Jos; ROBERTSON, Iain (eds.), 2016. Art Business Today. 20 key topics, Farnham, Lund Humphries.
GRAMPP, William, 1989. Pricing the Priceless. Art, artists and economics, Nova Iorque, Basic Books.
GOODWIN, James, 2008. The International Art Markets. The essential guide for collectors and investors, Londres e Filadélfia, Kogan Page.
GINSBURGH, Victor; WEYERS, Sheila, 2008. "On the contemporaneousness of Roger de Piles' Balance des peintres'", in J. Amariglio et al. (eds.), Sublime economy: on the intersection of art and economics, Londres, Routledge, pp. 112-123.
FERNANDES, Alexandra; AFONSO, Luís U., 2014. "Joana Vasconcelos: managing an artist's studio in the early 21st century", International Journal of Arts Management, vol. 17, n. 1, 2014, pp. 54-64.
ELSNER, J.; CARDINAL, R. (eds.), 1994. The Cultures of Collecting, Londres, Reaktion Books.
DUARTE, Adelaide, 2016. Da coleção ao museu. O colecionismo privado de arte moderna e contemporânea em Portugal, Casal de Cambra, Caleidoscópio.
DICKIE, George, 1997. The Art Circle. A theory of art, Evanston, Chicago Spectrum Press.
DANTO, A. C., 1964. "The artworld", Journal of Philosophy, 61, pp. 571-584.
DE MARCHI, Neil; MIEGROET, Hans, 2006. "The history of art markets", Victor Ginsburgh e David Throsby (eds.), Handbook of the Economics of Art and Culture, vol. I, North-Holland / Elsvier, pp. 69-122.
CLUNAS, Craig, 2004. Superfluous Things. Material culture and social status in Early Modern China, Honolulu, University of Hawai'i Press.
CHARNEY, Noah (ed.), 2009. Art and Crime: Exploring the Dark Side of the Art World, Santa Barbara, Greenwood Press.
CARROL, Nöel (ed.). Theories of Art Today, Madison, University of Wisconsin Press, 2000.
BUCK, Louisa; GREER, Judith, 2006. Owning Art. The contemporary art collector's handbook, Londres, Thames & Hudson.
BOURDIEU, Pierre; DARBEL, Alain, 1997. L'amour de l'art. Les musées d'art européens et leur public, Paris, Minuit (1ª ed. 1969).
BOURDIEU, P., 1996. La distinction. Critique sociale du jugement, Paris, Minuit (1ª ed. 1979).
BOLL, Dirk, 2011. Art for sale. A candid view of the art market, Ostfildern, Hatje Cantz Verlag.
BECKER, Howard, 1982. Art Worlds, Berkeley, University of California Press.
BAUDRILLARD, Jean, 2006. O Sistema dos Objetos, São Paulo, Perspectiva (1ª ed. 1968).
ATWOOD, Roger, 2004. Stealing History: Tomb Raiders, Smugglers, and the Looting of the Ancient World, Nova Iorque, St Martin's Press.
APPLEYARD, Charlotte; SALZMANN, James, 2012. Corporate Art Collections. A handbook to corporate buying, Farnham, Lund Humphries.
ALFORD, Kenneth, 2011. Allied Looting in World War II: Thefts of Art, Manuscripts, Stamps and Jewelry in Europe, McFarland & Co Inc.
AFONSO, Luís, 2015. "A China e o mercado da arte português na atualidade". In L. F. Barreto e V. Serrão (eds.). Património Cultural Chinês em Portugal, CCCM/Fundação Jorge Álvares, pp. 215-226.
Authors:
Reference: null
Year:
Appraisal and Evaluation of Works of Art
At the end of this learning unit's term, the student must be able to:
LG1= To know the techniques and procedures to correctly identify works of art.
LG2= To know the techniques and procedures to correctly appraise works of art.
LG3 = To know the techniques and procedures to correctly valuate works of art.
I. Identification of Works of art: who, where and when the work of art was made - Typology. Style. Materials. Techniques. Quality. Use. Era (originals, replicas and revivalisms).
II. Appraisal of Works of art. Specialists and experts.
III. Valuation of Works of art. Specialists.
IV. Auxiliary sciences.
During the learning-teaching term, there will be the following grading instrument (of 0 to 20 points, with a weight of 100% in the final classification):
- Essay
This grade presupposes a student's attendance (and punctuality) of 80% or above.
The test mark must be at least 9,5.
Title: MONCADA, Miguel Cabral - Peritagem e identificação de Obras de Arte. Porto: Civilização, 2006.
Marché de l?Art, l?Expert dans tous ses états ? Actes du colloque. Paris: Syndicat Français des Experts Professionnels en ?uvres d?Art et Objets de Collection, Groupe d?Études et de Recherches sur les Organisations Culturelles, Gestion des Institutions Culturelles Affaires Internationales, Université Paris-Dauphine, 2004.
FERNANDES, Alexandra; AFONSO, Luís Urbano ? Os Leilões e o Mercado da Arte em Portugal. Estrutura, história, tendências. Lisboa: Scribe, 2012.
BOLL, Dirk ? Art for Sale ? A Candid View of the Art Market. Ostfildern: Hatje Cantz Verlag, 2011.
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Title: Outros textos fornecidos pelo docente.
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Collections and Curatorship
At the end of this learning unit's term, the student must be able to:
LG1= To know the main trends of collecting and curating
LG2= To know the main art collections, collectors and curators in Portugal.
LG3= Outline the curators´ socio-professional profile.
LG4= Critically discuss the curators´ role.
This unit will encompass the following themes:
I) Configuration of the main contemporary art collections in Portugal, which belong to museums, art centers, private foundations and banks.
II) An exam to the collections profiles: contexts of foundation, typologies and focus of interest, selection criteria and motivation, acquisition modalilities or incorporation of depositories; initiative and financing models; current status and future perspectives, amongst others.
III) Visiting the collections and getting to know the collectors / curators
IV) Recent history of curating and its pioneers
V) Questioning the inherent complexities of the curator´s role, based on theoretical and empirical data
VI) Mapping the existing contexts for curatorial practice and its institucionalization
VII) Contemporary challenges of curating
During the learning-teaching term, there will be the following grading instrument(of 0 to 20 points, with a weight of 100% in the final classification):
- Essay
This grade presupposes a student's attendance (and punctuality) of 80% or above.
The test mark must be at least 9,5.
Title: OBRIST, Hans Ulrich. 2008. A Brief History of Curating. Zurique: JPR Ringier.
ALTSHULER, Bruce. 2013. Biennials and Beyond: Exhibitions that Made Art History: 1962-2002. Londres/Nova Iorque: Phaidon.
ALTSHULER, Bruce (ed.) 2005. Collecting the New, Museums and contemporary Art. Princeton: Princeton University Press.
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Title: TODOLÍ Vicente e João FERNANDES. 1999. ?Circa 1968: Em torno de uma ideia de museu e de colecção?, in Circa 1968. Porto: Fundação de Serralves.
SCHUBERT, Karsten. 2000. The Curator´s Egg, the evolutions of the museum concept from French Revolution to the present day. Londres: One-off Press.
O'NEILL, Paul, ed. 2006. Curating Subjects. Londres, Amesterdão: Open Editions/De Appel.
MELO, Alexandre. 2012. Sistema da Arte Contemporânea. Lisboa: Documenta.
LIND, Maria e VELTHUIS, Olav (eds.) 2012. Contemporary art and its comercial markets: a report on current conditions and future scenarios. Berlim: Sternberg Press.
HEINICH, Nathalie. 1995. Harald Szeemann, Un cas singulier: Entretien. Paris: L´Échoppe.
GROYS, Boris. 2008. ?On the Curatorship?. Art Power. Cambridge, Mass. e Londres: MIT Press. 43-52.
GREENBERG, Reesa, Bruce Ferguson e Sandy Nairne, eds. 2002. Thinking about exhibitions. Londres e Nova Iorque: Routledge.
FERREIRA, Ana Rita Francisco. 2006. «A via da diversidade: perspectivas e prospecções da actividade curatorial». Dissertação de mestrado. Lisboa: Faculdade de Belas-Artes da Universidade de Lisboa.
FERNANDES, João. 2009. ?Uma Colecção em construção?, Serralves, 2009, A colecção, Imagens: uma exposição em três partes e obras no parque. Porto: Fundação de Serralves.
ESPECIAL, Luísa. 2012. «Os curadores em exposição. Um grupo profissional no mundo da arte contemporânea». Dissertação de doutoramento em Sociologia. Lisboa: ISCTE.
DERIEUX, Florence ed. 2007. Harald Szeemann, Méthodologie individuelle. Zurique: Jpr/Ringer e Le Magasin ? Centre National d´Art Contemporain.
BEZZOLA, Tobia e Roman Kurzmeyer, eds. lits. 2007. Harald Szeemann with by through because towards despite: catalogue of all exhibitions, 1957-2005. Viena: Springer.
ALTSHULER, Bruce. 2008. Salon to Biennial, exhibitions that made Art History, volume I: 1863-1959. Nova Iorque, Londres: Phaidon.
ALVES, Isabel e José Miranda Justo, orgs. 1998. Ser moderno... em Portugal. Ernesto de Sousa. Lisboa: Assírio e Alvim.
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Cultural Entrepreneurship
LO1 - Develop a business project for-profit/non-profit
LO2 - Know the contextual and personal characteristics that favor innovation and entrepreneurship.
LO3 – Apply the Business Model Canvas methodology and create value propositions
LO4 - Know how to prepare the business plan for your business project (including market analysis, competition analysis, business strategy, marketing plan, financial projections)
LO5 - Know how to present the business plan to obtain financing/support
PC1 - The context and the entrepreneur:
PC1.1: Contextualization of the current environment for starting business projects in the field of cultural/creative industries
PC1.2: The profile of the entrepreneur and cultural entrepreneurship
PC2: Business models – Introduction, examples, and case studies
PC3: Business Model Canvas
PC4: Create value propositions (presentation and discussion of value propositions prepared in groups)
PC5: Business plan – structure (market segments, competition analysis, marketing plan, financial plan)
PC6: Presentation and discussion of business projects (pitch)
There are two evaluation methods:
(1) Assessment throughout the semester (recommended assessment method)
Throughout the semester, the following assessment instruments will be used:
- Attendance and participation - (20%) – Attendance of at least 66% of classes required
- Business plan (group project): final presentation - (30%) - All group members must participate in the presentation
- Business plan (group project): written report - (50%)
(2) Assessment by written exam (100%)
Title: Osterwalder, A. & Pigneur, Y. (2010). Business Model Generation. New Jersey: J. Wiley & Sons. https://catalogo.biblioteca.iscte-iul.pt/cgi-bin/koha/opac-detail.pl?biblionumber=88421
Osterwalder, A., Pigneur, Y., Bernarda, G., Smith, A. & Papadakos, P. (2014). Value Proposition Design. New Jersey: J. Wiley & Sons.
Gehman, J., & Soublière, J-F. (2017). Cultural entrepreneurship: from making culture to cultural making. Innovation 19 (1), 61-73. DOI:10.1080/14479338.2016.1268521
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Title: Barringer, B.R. and Ireland, R.D. (2016). Entrepreneurship: Successfully Launching New Ventures, Pearson Prentice-Hall, Upper Saddle River, NJ.
Andrews, R. (2019). Arts Entrepreneurship: Creating a New Venture in the Arts. London: Routledge
Bock, A. J., & George, G. (2018). The Business Model Book. Harlow: Pearson Education Limited.
Naudin, A. (2019). Cultural Entrepreneurship: The Cultural Worker’s Experience of Entrepreneurship. London: Routledge
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Internacional Art Markerts
At the end of this curricular period, the student must: OA1 = Understand and characterize the main consolidated international art markets. OA2 = Understand and characterize the main emerging international art markets
ProgramI. Introduction to international art markets. Economy, globalization, geopolitics and culture. II. Identification and characterization of the main art markets consolidated today. Readjustments and challenges to the centrality of large Western capitals: New York, London, Paris. Volume of business. Ecosystems: cultural institutions; reference artists; reference agents; main fairs and biennials. III.The (re) emergence of Asia, the Arab world and the role of the southern hemisphere. Identification and characterization of the main emerging art markets today. The potential and conditions of the new centers: Beijing, Shanghai, Hong Kong, Persian Gulf monarchies (Qatar, Abu Dhabi, Dubai), São Paulo, Istanbul. Volume of business. Ecosystems: cultural institutions; reference artists; reference agents; main fairs and biennials. IV. Case studies Emerging markets case studies: China, Brazil, Indonesia and Southeast Asia in general
Evaluation process1) Presentation in class (35%) of a chapter of a report on art markets. Work developed and presented in groups of 2 students. Presentations have a maximum duration of 30 minutes. 2) Individual essay (65%) dedicated to one of three possibilities to be indicated in class. Essays must be delivered by e-mail, in pdf format with a maximum of 10 pages (c. 4,000 words), until May 31.
BibliographyTitle: NB: complementar com relatórios temáticos de sites especializados (ex. Arttactic, Artprice) e notícias do The Art Newspaper para dados mais atualizados.
ZAROBELL, John (ed.), 2017. Art and the Global Economy, Oakland, University of California Press.
GOODWIN, James, 2008. The International Art Markets. The essential guide for collectors and investors, Londres e Filadélfia, Kogan Page.
ROBERTSON, Iain, 2018. New Art, New Markets, 2ª ed., Farnham, Lund Humphries.
McANDREW, Clare, 2020. The Art Market 2020, Basileia, Art Basel & UBS.
EHRMAN, Thierry (ed.), 2020. Artprice report: 2000-2020. 20 years of contemporary art auction history, St-Romain-au-Mont-d?Or, Artprice.
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Title: VOGEL, Sabine, 2010. Biennials. Art on a Global Scale, Viena, Springer.
THORNTON, Sarah, 2010. Sete Dias no Mundo da Arte, Lisboa, Arcádia (1ª ed. Londres, 2008).
THOMPSON, Don, 2008. The $12 Million Stuffed Shark. The curious economics of contemporary art and auction houses, Londres, Aurun Press.
ROBERTSON, Iain, 2016. Understanding Art Markets. Inside the world of art and business, Londres, Routledge.
JONES, Caroline, 2017. The Global Work of Art. World's Fairs, Biennials, and the Aesthetics of Experience, Chicago, University of Chicago Press.
HACKFORTH-JONES, Jos; ROBERTSON, Iain (eds.), 2016. Art Business Today. 20 key topics, Londres, Lund Humphries.
HARRIS, Jonathan, 2017. The Global Contemporary Art World, Oxford, Wiley Blackwell.
_____, 2020. ?Online sales and business model innovation in art markets: a case study?, Social Sciences, 9 (2), pp. 1-15.
FERNANDES, Alexandra; AFONSO, Luís, 2014. ?Joana Vasconcelos: managing an artist?s studio in the early 21st century?, International Journal of Arts Management, 17 (1), pp. 54-64.
BARRAGÁN, Paco, 2008. The Art Fair Age, Milão, Edizioni Charta.
ANDREWS, Julia; SHEN, Kuiyi (eds.), 1998. A Century in Crisis. Modernity and tradition in the art of twentieth-century China, Nova Iorque, Guggenheim Museum Publications.
AMIRSADEGHI, Hossein; MIKDADI, Salwa; SHABOUT, Nada (eds.), 2009. New Vision: Arab contemporary art in the 21st century, Londres, Transglobe Publishing.
_____, 2012. Contemporary Art Brazil, Londres, Thames & Hudson.
_____, 2010. Unleashed: Contemporary art from Turkey, Londres, Thames & Hudson.
AMIRSADEGHI, Hossein (ed.), 2009. Different Sames: New perspectives in contemporary Iranian art, Londres, Thames & Hudson.
AFONSO, Luís; FERNANDES, Alexandra, 2019. Mercados da Arte, Lisboa, Sílabo.
ADLER, Phoebe et al. (eds.), 2010. Contemporary Art at Latin America, Londres, Black Dog Publishing.
_____, 2017. Dark Side of the Boom. The excesses of the art market in the 21st century, Londres, Lund Humphries.
ADAM, Georgina, 2014. Big Bucks. The explosion of the art market in the 21st century, Farnham, Lund Humphries.
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Art Markets Practices
At the end of this learning unit's term, the student must be able to:
LG1=Understand practical and informal aspects of the functioning of the art markets.
LG2=Understand the relevance of segmentation in art markets.
LG3=Understand, in practice, the relevance of the agents and institutions which are responsible for the formation of artistic conventions and cannons.
LG4=To identify, in practice, the main differences between the art markets in Portugal and in France or England.
I. Cycle of conferences about the functioning of the art markets by Portuguese and foreigner specialists still in the active representing different segments of the market for arts, encompassing, among others, antiquaries, curators, dealers, art critics, advisors, collectors, artists, art evaluators, regulators and managers of events related with the visual arts.
II. Conducting study visits in Portugal and abroad involving reference museums in ancient and contemporary art, art galleries, antiquaries and auctioneers.
An individual essay on a topic addressed in the conferences or in the study visits.
BibliographyTitle: VELTHUIS, Olav, 2007. Talking Prices. Symbolic meanings of prices on the market for contemporary art, Princeton e Oxford, Princeton University Press (1ª ed. 2005).
THORNTON, Sarah, 2010. Sete Dias no Mundo da Arte, Lisboa, Arcádia.
THOMPSON, Don, 2008. The $12 Million Stuffed Shark. The curious economics of contemporary art and auction houses, Londres, Aurun Press.
STOURTON, James, 2007. Great Collectors of Our Time. Art collections since 1945, Londres, Scala.
LINDEMANN, Adam, 2006. Collecting Contemporary, Colónia, Taschen.
HARRIS, Jonathan, 2017. The Global Contemporary Art World, Oxford, Wiley Blackwell.
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Title: SIMÕES, Pedro, 2015. O Mercado da Arte Moderna e Contemporânea em Portugal (2005-2013). Tese de Doutoramento em História, especialização em História da Arte, apresentada à Universidade de Lisboa
SILVA, Arlete; MIGALHADA, Paula (eds.), 2017. CAMB 2006/2017. Coleção Manuel de Brito, Oeiras, Câmara Municipal de Oeiras
SILVA, Arlete (ed.), 2011. Coleção Manuel de Brito. Centro de Arte Manuel de Brito, Oeiras, Câmara Municipal de Oeiras.
SECREST, Meryle, 2006. Duveen. A life in art, Chicago, University of Chicago Press.
SCHMITT, Jean-Marie, 2008. Le Marché de l?Art, Paris, La Documentation Française.
SANTOS, Maria L.; MELO, Alexandre (eds.), 2001. Galerias de Arte em Lisboa, Lisboa, Observatório das Actividades Culturais.
ROBERTSON, Iain; CHONG, Derek (eds.), 2008. The Art Business, Londres, Routledge.
ROBERTSON, Iain, 2016. Understanding Art Markets. Inside the world of art and business, Londres, Routledge.
RESCH, Magnus, 2014. Management of Art Galleries, Osfildern, Hatje Kantz.
MOUSTAIRA, Elina, 2015. Art Collections, Private and Public: a comparative legal study, Cham (Suíça), Springer.
MOUREAU, Nathalie; SAGOT-DUVAUROUX, Dominique, 2006. Le marché de l?art contemporain, Paris, Découverte.
________, 2006. Le marché de l?art. Mondialisation et nouvelles technologies, Paris, Flammarion (1ª ed. 2003).
MOULIN, Raymonde, 1997. L?artiste, l?institution et le marché, Paris, Flammarion.
MELO, Alexandre, 2012. Sistema da Arte Contemporânea, Lisboa, Documenta.
McNULTY, Tom, 2014. Art Market Research: a guide to methods and sources, Jefferson, McFarland & Company.
MARTORELLA, Rosana, 1990. Corporate Art, New Brunswick, Rutgers University Press.
HARGREAVES, Manuela, 2013. Colecionismo e Mercado da Arte em Portugal. O território e o mapa, Porto, Afrontamento.
FERNANDES, Alexandra; AFONSO, Luís U. (eds.), 2012. Os Leilões e o Mercado da Arte. Estrutura, história, tendências, Lisboa, Scribe.
FERNANDES, Alexandra; AFONSO, Luís U., 2014. ?Joana Vasoncelos: managing an artist?s studio in the 21st century?, International Journal of Arts Management, 17 (1), pp. 54-64.
DUARTE, Adelaide, 2016. Da coleção ao museu. O colecionismo privado de arte moderna e contemporânea em Portugal, Casal de Cambra, Caleidoscópio.
DIAS, João Carvalho (ed.), 2006. O Gosto do Coleccionador. Calouste S. Gulbenkian, 1869-1955, Lisboa, Fundação Calouste Gulbenkian.
BUCK, Louisa; GREER, Judith, 2006. Owning Art. The contemporary art collector?s handbook, Londres, Thames & Hudson.
BOLL, Dirk, 2011. Art for sale. A candid view of the art market, Ostfildern, Hatje Cantz Verlag.
BERNIER, Georges, 1990. L?Art et l?Argent. Le Marché de l?Art à la fin du XXe Siècle, Paris, Éditions Ramsay (1ª ed. 1977)
ADAM, Georgina, 2014. Bib Bucks. The explosion of the art market in the 21st century, Farnham, Lund Humphries.
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Dissertation in Art Markets
At the end of this learning unit's term, the student must be able to:
LG1= to formulate research hypothesis
LG 2 = to select and analyze the relevant literature
LG 3 = to develop methods to test the research hypothesis
LG 4 = to analyze results
There is no program. Each dissertation demands specific theoretical frameworks and methods, whose definition is made by the tutor/s.
Evaluation processDuring the learning-teaching term, there will be the following grading instrument(of 0 to 20 points, with a weight of 100% in the final classification):
- Dissertation
The grade must be at least 10.
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Internship in Art Markets
The student should be able to:
LG1.Colaborate in the definition of the objectives and internship program;
LG 2. Demonstrate interests, learning capacities and response to the various situations raised during the internship;
LG 3. Use appropriate theoretical, technical and methodological tools to approach specific problems at the internship site;
LG 4.Demonstrate maturity and interpersonal skills in the professional integration in the stage;
LG 5. Maintain an adequate personal and professional position;
LG 6. Analyze and reflect critically on the activities carried out in the internship;
LG 7. Elaborate an internship report with an academic level appropriate to the 2nd cycle of studies, based on its theoretical and methodological assumptions, presenting an adequate conceptual framework, describing the contents of the internship and evaluating critically the professional practices developed there.
The nature of the UC does not allow the definition of a program with concrete materials. More important than the transfer of foreground is to seek to apply the skills already acquired in order to achieve the final goal of completion of the training.
In this way, the UC is based on the work developed individually and presented during the orientation sessions planned in this CU both individually and in a group.
Notwithstanding the absence of a program in the traditional sense of the term, it should be noted that some of the subjects in the subject include the following competences:
PC1. Teamwork;
PC 2. Communication and interpersonal relationships in the work context;
PC 3. Conflict management and negotiation in the work environment;
PC 4. Ethical behavior and professional ethics;
PC 5. Participation in processes of reporting;
1)Op. of the trainee sup on the perform of the trainee:a)attendance and compliance with sched./deadl.;b) work capacity;team integr and rel with the hier.;c)tech knowledge; autonomy in research;
2)Consider. of the traineeship report.In particular:a)Ability to refl on the prof fut;b) Ability to problematize,theorize and analyze a given reality;c) Formulation appropriate to an academic work (lang and metalang,struct and style);d)Correct integr of the 2º literature in the developed argumentation.
Title: There is no specific bibliography. The student should use the bibliography of the different CUs he / she attended in the curricular component of the master?s degree program, as well as other bibliography provided by the supervisors of the internship.
Não existe uma bibliografia específica. O aluno deverá recorrer à bibliografia utilizada nas diferentes UCs que frequentou na parte curricular do curso de mestrado, bem como a outra bibliografia indicada pelos orientadores de estágio.
Básica (1000 caracteres)
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Recommended optative
The study plan allows the selection of one optional course. It is recommended that students select a course related to the area in which they intend to develop their final work. Optional courses will only be held if they achieve a minimum number of enrolments.
Objectives
The main objective of this program consists on the study of the art markets. It is intended that students comprehend the fundamental structures of these markets and how they function. At the same time, it is intended that students gain the capacity to critically analyse the art markets in their different components. It is also intended that students can improve the performance of the organizations in which they come to work.
- To understand the basic structure of the art markets (primary market and secondary market).
- To understand the dynamics of art markets (the interaction between all the components of the system).
- To critically discuss this structure and these operations.
- To identify the models (or theories) of management and their contexts: rational models, bureaucratic models (internal processes), human resources models and open system models.
- To analyse the main concepts and theories in the framework of functions in the management process: planning and decision-making, organization, motivation and leadership, control and social responsibility.
- To understand the concept, importance and fundamentals of arts marketing.
- To critically discuss the function of marketing in art markets.
- To understand the goal of financial accounting and the fundamental equation of accounting.
- To understand the concepts of direct costs, indirect costs, relevant costs, irrelevant costs and incremental costs and income.
- To identify and comprehend the major traditional financial investments.
- To explain the use of artworks as alternative financial investments.
- To understand and critically discuss the main models for the study of financial risk and return in artworks.
- To understand and describe the main international art markets (both the established and the emerging).
- To understand the practical and informal aspects of the operations in the art markets.
- To understand the importance of the agents and institutions responsible for defining artistic conventions and canons.
- To recognize the main tendencies in art collecting.
- To critically discuss the role of the curator.
- To recognize the mechanisms and procedures for correctly identifying, appraising and evaluating works of art.
These skills are developed in the curricular courses that comprise the master's study plan.
Thesis / Final work
The conferral of the Master's requires the completion of a dissertation, a project or an internship report corresponding to 54 credits under the guidance of a professor specialized in the area, as well as the appraisal and public discussion of this project before a jury determined for this purpose.