The economic theory of museums, a relatively recent field of cultural economics, emerged in the 1980s to analyze how these institutions function economically, treating them as either economic units with inputs and outputs or as neoclassical agents maximizing objectives under resource constraints. This analysis critically examines how diverse financing methods—from public subsidies to donations—profoundly impact a museum's collection management, artistic orientation, and resource-generating activities. A significant trend since the 1980s has been the sharp rise in museum numbers, concurrently giving rise to a "star system" where iconic museums with world-famous collections attract a growing share of visitors, often at the expense of other institutions. Facing increasing operational costs, partly due to the Baumol effect, and declining public funding, museums continuously debate their economic justification and strategies for long-term sustainability, balancing their heritage preservation and educational missions with financial realities.