Course Description

Course Name

Media Economics

Session: VSOS3221

Hours & Credits

3 Credits

Prerequisites & Language Level

Taught In English

  • There is no language prerequisite for courses at this language level.

Overview

Course Overview
This course examines the media industries from an economic point of view. It provides microeconomic foundations, industrial organization models and antitrust tools needed to understand media firms, industries and policies. A number of examples from various media industries are discussed. This will be a mainly lecture/discussion oriented class.

Main Texts:
Lecture notes are available for some selected topics. Other references and reading materials will be announced/distributed during the class. In particular, I recommend the following textbook:
Hoskins, Colin, Stuart McFadyen and Adam Finn (2004), Media Economics:Applying Economics to New and Traditional Media, SAGE Publications.

Course Outline:
1. Introduction: Why Media Economics?
2. Main Characteristics and Economic Issues in Media Industries
3. Basics of Game Theory
4. Games of Network Choice
5. Scheduling Competition in the Broadcasting Industry
6. Program-Type Competition in the Broadcasting Industry
7. Market: Demand and Supply
8. Theory of Consumption
Midterm Exam
9. Consumer Surplus and Flat-Fee Pricing
10. Theory of Production and Cost
11. Perfect Competition and Monopoly
12. Price Discrimination and Bundling
13. Regulation of Monopoly
14. Monopolistic Competition and Oligopoly
15. Basics of Antitrust Analysis
16. Allocation of Radio Spectrum
17. Other Applications in the Media Industries
Final Exam

*Course content subject to change