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Cultural economics is concerned with changes in cultures, traditions and social behavior patterns prevalent in a society and the subsequent economic impact of these cultural changes. It specializes in analysis and assessment of the degree of relevance of cultural issues on economic conditions prevalent in the given society. It also examines the decision making patterns of individual economic units i.e persons, households, institutions etc. Cultural economists take numerous socio-cultural factors into consideration when doing case studies and modeling economic paradigms of transfer and exchange between economic units and groups respectively. The effect of changes in economic decision making and behavior patterns is done by calculating the individual and cumulative impact of such changes on social capital, social networks and internality. Cultural economics is a relatively new field in the nascent stages of its development and hence authentic and veritable literary sources are few and far between. This leaves students with very few realistic options and avenues of getting relevant information.
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