Topics in Empirical Finance: The Art of Finance - Innovation, Markets, and Cultural Assets

This course explores the intersection of finance, innovation, and culture, with a particular focus on the concept of “art” in its many forms.

Beyond its aesthetic appeal, art has been studied as a financial asset: finance scholars have investigated which colors command the highest auction prices, whether art objects truly justify their valuations, and the returns that can be achieved through investing in art. We will also consider whether the financial world itself can be seen as a creator of art—for example, through the design of physical, printed share certificates or the emergence of crypto phenomena such as the Shiba Inu meme coin.

The course pushes the boundaries of the traditional concept of art to examine innovation in finance. We will explore whether there have been “avant-gardists” in the financial industry—individuals who introduced pioneering developments, such as the first ATM or Non-Fungible Token. As part of the course, students will gain hands-on experience through a visit to the Archiv der Avantgarden in Dresden, where they will have the opportunity to explore the archive for avant-garde financial artefacts and innovations.

The course culminates in a student presentation and a written thesis. Students may either (i) analyze and extend current research on art and financial markets, or (ii) work with the Archiv der Avantgarden to document and study financial avant-gardists and their contributions to innovation in the industry.

Interested? Register here: Link

We look forward to your participation!