Heritage-Ökonomie (Online)

Objectives Students will acquire a set of basic skills in budgeting, financial management and fundraising, which will allow them to estimate and acquire budgets, manage financial processes and present the economic impact and sustainability of heritage interventions. In this context the course emphasizes budgeting and financial administration requirements of major donor organizations for cultural heritage (EU, World Bank etc) and raises student’s awareness concerning the cultural diversity of global and regional approaches to fundraising and financing. Part 1: Finance for Heritage Management Students will gain familiarity with the key-concepts, terminologies and procedures of financial management as relevant to heritage projects. On the basis of exercises and scenarios, students will gain experience in budget estimation and allocation, cost categories, principles of accounting and financial reporting, as well as better understanding of auditing procedures. Part 2: Heritage Economics In this part of the course students will consider the economic impact of heritage conservation as well as its documentation to donors and decision-making. Concepts discussed include economic valuation models for heritage resources and tools to promote the economic valuation of heritage interventions, including economic impact analysis, feasibility studies, cost-benefit analysis as well as value chain models. Part 3: Fundraising for Cultural Heritage In the course on fundraising for cultural heritage students will be introduced to the ethics of fundraising activities in different contexts, including varying definitions of charitable organizations and purposes. They will understand the application requirements of major donor organizations in the cultural heritage field and will acquire competence to develop individual fundraising campaigns and understand different aspects of philanthropy, private investments, donor behaviour, and incentive models.

• Written examination (part 1: financing) (45 min; 30% of overall grade)
• Return of two worksheets (part 2: economics) (max. 4000 characters each; 30% of overall grade)
• Group presentation (part 3: fundraising) (about 10min per student; 40% of overall grade)

will be announced in class.

In the event that the module cannot be taught or tested according to the present description (e.g. for reasons of infection protection), the alternatives communicated on relevant platforms (e.g. homepage or Moodle) apply

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