Student Research Projects
The Economic Impact of Museums
|Department||Management, Business and Economics|
|Course||MBE 202: Introduction to Microeconomics|
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.