Economics of design

Design concept that had started with the human history, became a part of the industry after having reached the 20th century and accepted as a field of science. Design embraces a wide range of areas such as industrial product design, environmental design, textiles, architecture, engineering, communications, and packaging, etc. Nowadays both the fields of design management are having been studied in addition to the value of design. The value of design has been discussed and interpreted from different aspects such as culture, politics an economics. This thesis interprets design from an economic aspect. The objective of the study is to define the economic aspect of design and determine its value from micro and macro perspectives. Accordingly, first the studies undertaken globally were assessed. The models incorporating the economic value of design were demonstrated. The theoretical studies were exemplified and supported with practical implementations. There were very few studies regarding design economics in Turkey, while legal design support programs to support design and effective implementation of it are put forward and academic studies are undertaken in many countries that have recognized the importance of design in the economics. Only parts of the topic were emphasized partially in the studies in Turkey. Specifically economists do not pay attention to the field, which requires an interdisciplinary study framework. Limited attention paid by economists and relevant institutions leads the economic aspects of design to be in deficiency and limited recognition of the value of design in Turkey. The main objective of this thesis is to take one of the first footsteps to fill in this gap in order to constitute the first study focusing on the value of design and guide the forthcoming studies in Turkey. Key Words: Design economics, power of design, design and innovation, value of design, competition.