INTRODUCTION

ArtMarketplace, a daily economics news program heard on National Public Radio, featured a story on January 8, 2002 titled "Art Post-9/11." In this segment, reporter Beatrice Black explores the effects September 11th had on the art community.

TASK

In this lesson, you will act as a curator of a museum. Taking account of factors that affect profit, you will make management decisions, selecting art to be exhibited at your museum.

PROCESS

Listen to the Marketplace segment or read the transcript Art Post 9/11, (play from 8:00 through 11:17). As you are listening to the segment, analyze the following:Hanging Picture

  • What new considerations must a curator make prior to selecting an exhibit to show?
  • How are some galleries or museums responding to the new threat of terrorism?

You, along with other students will act as the curator of a museum.

As the curator of an art museum, you are charged with the task of choosing a collection of work to highlight in an exhibit. You have been provided with three possible candidates: one unknown artist, one moderately-known artist, and one famous artist. You will have to reflect on many different economic factors to determine which of the three exhibits will be the most profitable for the museum.

Open the Interactive activity "Art Museum" and follow the instructions you find there.

CONCLUSION

Please review all three outcomes and then answer the following questions:Gallery

  • Was your chosen exhibit profitable? Why or why not?
  • What factors most influenced the outcome of your exhibit?
  • What events or factors had you not previously considered?
  • Were you surprised by the outcome? Why or why not?

EXTENSION ACTIVITY

$10 Billion to Host the Winter Olympic Games: Is it worth it?
In this EconEdLink lesson, you will learn about costs and revenues related to the '98 Winter Games in Nagano. Discussion questions about estimated benefits and costs to the host city are presented.