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A creative economy is based on people's use of their creative imagination to increase an idea's value.John Howkins developed the concept in 2001 to describe economic systems where value is based on novel imaginative qualities rather than the traditional resources of land, labour and capital.: [1] Compared to creative industries, which are limited to specific sectors, the term is used to ...
Galenson is known for postulating a new theory of artistic creativity. [4] Based on a study of the ages at which various innovative artists made their greatest contributions to the field, Galenson's theory divides all artists into two classes: conceptualists, who make radical innovations in their field at a very early age; and experimentalists, whose innovations develop slowly over a long ...
Economics of the arts and literature or cultural economics (used below for convenience) is a branch of economics that studies the economics of creation, distribution, and the consumption of works of art, literature and similar creative and/or cultural products. For a long time, the concept of the "arts" were confined to visual arts (e.g ...
Those centers are teaching students creative problem solving and design thinking. Creativity is a set of teachable skills and many universities are requiring students to take creativity classes as part of their undergraduate study. [4] [5] [6] [7]
The creative industries have been seen to become increasingly important to economic well-being, proponents suggesting that "human creativity is the ultimate economic resource", [7] and that "the industries of the twenty-first century will depend increasingly on the generation of knowledge through creativity and innovation". [8]
Some economists (such as Paul Romer) view creativity as an important element in the recombination of elements to produce new technologies and products and, consequently, economic growth. Creativity leads to capital, and creative products are protected by intellectual property laws.
The creative class is the posit of American urban studies theorist Richard Florida for an ostensible socioeconomic class.Florida, a professor and head of the Martin Prosperity Institute at the Rotman School of Management at the University of Toronto, [1] maintains that the creative class is a key driving force for economic development of post-industrial cities in North America.
A Bachelor of Economics (BEc or BEcon) [1] [2] is an academic degree awarded to students who have completed undergraduate studies in economics. Specialized economics degrees are also offered as a "tagged" BA (Econ), BS (Econ) / BSc (Econ), BCom (Econ), and BSocSc (Econ), or variants such as the "Bachelor of Economic Science".