Economics of the Media

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Free Online Course: Economics of the Media provided by MRUniversity is a comprehensive online course, which lasts for 4 hours worth of material. The course is taught in English and is free of charge. Upon completion of the course, you can receive an e-certificate from MRUniversity. Economics of the Media is taught by Tyler Cowen and Alex Tabarrok.

Overview
  • What you will learn

    In the Information Age, media is everywhere. This course will help you make sense of it all, providing insight into the structure of media firms, the nature of their products and how they make money.

    Is media biased? Is consolidation of media companies bad for consumers? This course will address those questions as well as how the government affects the structure of media through policies such as net neutrality, copyright, TV regulation, and spectrum allocation.

    This course will provide a general background on the research from economists on media and journalism. There will be a lot of economics and not too much math.

Syllabus
  • 1. Basic economics of media

    The importance of fixed costs

    Non-rivalry in consumption

    Spatial models

    Network externalities

    Some economics of advertising

    The economics of payola

    Payola and conflict of interest

    Rossman Payola 1

    Rossman Payola 2

    Does consolidation lower variety?

    Multiple equilibria

    History of media economics

    Steven Pearlstein on newspapers (Optional)

    James Hamilton, Markets for News (Optional)

    2. Media bias

    What drives media slant?

    Does competitiveness lower bias?

    Balance for ballot propositions

    Newspapers and agenda setting

    Ideological segregation

    The danger of stories

    3. Media and government

    Spectrum auctions, spectrum liberalization and the incomplete triumph of Coase

    State ownership

    Net Neutrality by Jerry Brito

    Network economics and 'net neutrality' regulation by Adam Thierer

    Weak and strong natural monopoly

    Cable TV regulation

    Bundling

    Copyright and music

    Can the government influence private media?

    The unintended consequences of media

    The cultural diversity critique of markets

    Guide to Conspiracy Theories

    4. Media and economic development

    Avant-garde and popular art

    The economics of Bollywood

    Cable TV and women

    Food crises and India’s media

    Exposing corruption in Brazil

    What to do about HIV/AIDS?

    James T. Hamilton, “All the News That Fits to Sell”

    Thomas Hazlett, The Law and Economics of Net Neutrality

    Tim Groseclose, Media Bias

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