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Student Research Projects

The Economic Impact of Museums

Student Samantha Bull
Faculty Mentor(s) Mr. David Garraty
Department Management, Business and Economics
Course MBE 202: Introduction to Microeconomics

Abstract

Museums contribute much to society by means of cultural capital and development. This project seeks to examine the potential museums have to increase revenue for a locale and improve the standard of living for that area. A large part of this contribution is affected by the museum’s admission fee because the admission fee decides the level of visitor demand as well as visitor demographics. In conclusion, the Chrysler Museum’s recent free admission policy is observed to see how these ideas function on a local level.

 

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