Com 550:  Seminar in Media Economics and New Technologies

Administrative Details

Meets: 2:10 - 3:25  T/Th                                                                                Room: 208 Comm Bldg

Professor: Benjamin J. Bates

Official Course Description:

Electronic and Print media ownership, finance and corporate structure. Roles of new technologies and marketing techniques in changing media content and function in future.

Real Course Description:

This course surveys the economic environment in which media operate, and discusses the forces that shape media, market, and consumer behavior.

There will be three particular themes:

Course Objectives:

The objective of the course is not to produce a trained economist, but rather to provide the student with the tools to apply an economic approach to media analysis. By the end of the term, the student should:

Course Technical Requirements:

As a seminar, it is expected that students will participate in the class discussions by asking questions, making comments, and through presentations. It is thus imperative that students come to the class prepared, having read the assigned material.

Assignments

Exams (2, 20% each) 40%

Term Paper 30%

Projects (2, 10% each) 20%

Class Participation 10%

Exams

Each exam will cover material discussed in that portion of the class, and class readings. Exams should combine multiple-choice, short answer, and analytical questions. Students should be aware that the instructor sees exams as a learning experience, and thus, exam scores will be curved.

Term Paper

The term paper should be a major research paper using an economic approach to examine the actual, or potential, impact of some factor on some media market. The choice of medium and impact are the student's, although students should discuss their ideas with the instructor, and inform him of their topic. The paper will be graded as a scholarly paper; thus, style and grammar are important, as is the development and support of any arguments and analysis. The paper should include a review of relevant literature and studies, the application of economic principles to the analysis of the chosen medium and factor, and a well-reasoned analysis of the impact. Students will present the results of their studies at the end of the term.  The paper should be of a quality acceptable for an academic or professional conference presentation.

Projects

Firm/Market Analysis.

This project will focus on the practical application of economic approaches, and their application to the analysis of the viability/profitability of firms and markets. Students will identify a media-related firm or market, gather relevant information, and make a judgement as to the wisdom of investing in that market/firm.  Write an analyst's report (5-10 pages) and give a short presentation to the class.  You may use financial information services to gather data and information, but you are expected to draw your own interpretations.

Technology Impact.

Technology is rapidly changing media markets and operations.  In conjunction with the professor, select a technology and medium/market, research the latest information on the technology & market/medium, and write an analytical paper predicting the impact of the technology on the medium/market.  Students will also make a short presentation on the technology & impact to the class.

Class Participation

Again, as a seminar, students will be expected to contribute to class discussions.

Readings

Albarran, A. B. (1996). Media Economics: Understanding markets, industries, and concepts. Ames, IA: Iowa State University Press.

Alexander, A., Owers, J., & Carveth, R. (1998). Media Economics: Theory and Practice: 2nd Edition. Hillsdale, NJ: Lawrence Erlbaum Ass.

Neef, Dale.  (1998).  The Knowledge Economy.  Boston: Butterworth-Heinemann.

Pavlik, J. (1998). New Media Technology: Cultural and Commercial Perspectives. Boston: Allyn and Bacon.

Wall Street Journal (15 week student subscription is $29.00), or Trade magazine in medium of interest.

Other readings will be announced in class and through class listserv and website

Schedule (tentative)

May be revised to incorporate student interest, guest speakers, etc. Changes will be announced in class and through listserv and website.
 
Class Topic Assignment
13 Jan  Intro to Course, Overview of perspectives
18 Jan
20 Jan		  Basics of Micro & Macro Economics -- Alb: 1 & 2; AOC- Preface, 1
25 Jan 
27 Jan		 Media Markets: How do they work?  Alb: 3, 4; AOC: 3, 4
1 Feb
3 Feb		 Concentration: Who owns what, and why do we care? AOC: 2, 5
8 Feb
10 Feb
15 Feb		 Economics & Policy
Project Presentations		 Alb: 14;  TBA
17 Feb Test 1
22 Feb
24 Feb		 Newspaper & Print  Alb: 11, 12, 13; AOC 6
29 Feb
2 Mar		 Broadcasting Alb: 5, 6; AOC: 7, 10
7 Mar
9 Mar		 Other Telecomm Alb: 7, 8; AOC: 8, 13, 
14 Mar
16 Mar		 Content Alb: 9, 10; AOC: 9, 11
(Spring Break)
28 Mar
30 Mar		 Intro to New Techologies and New Media N: 1-4;  P: 1-5
4 April
6 April
11 April		 Changing markets: The economic impact of technology
Project presentations		 N: 5-10; P: 6, 7, 8

13 April
18 April		 Changing society: The social impact of technology N: 11-17; P: 9, 10, 11
20 April Test 2
25 April
27 April		 Futures (or Paper Presentations) 
(Term Papers due)
Final (Paper Presentations)

 
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Created 8/12/99. Last modified 10 Jan 2000
©Copyright, 1999-2000, Benjamin J. Bates.  May be used freely by members of the class.  Others may use with notification of copyright holder.