Media Economics: Theory, Competition and Regulation - Interactive curriculae of TU Ilmenau

Prof. Dr. Budzinski, Oliver

modules Microeconomics, Media Markets & Digitalization

Upon successful completion of the learning process of this course, students are able to:
. recognize economic theories (of media markets) in realistic market environments;
. present and explain theories, principles and concepts of the modern, state-of-the-art economics of media markets;
. develop pro and con lines of reasoning to create a scientific analysis of specific purpose-designed and real-world cases;
. assess theoretical and empirical problems in media economics on a high academic level;
. provide a scientific analysis of media markets by applying advanced theories, concepts, tools and methods to a purpose-designed case and derive expert-level conclusions.
For instance, successful students independently apply state-of-the-art scientific knowledge for analyzing the pros and cons of different media or digital business strategies in complex (interactive) market environments.
The learning process included lectures dominated by interactive elements, and teacher-student/student-student discussions. Students were actively involved into discussion of taught topics. This included dicussion of real-world cases in the media and digital environment.

Media Economics Theory:
- internet economics / economics of digitization
- platform economics
- economics of data
- economics of news markets
- entertainment economics; economics of superstars
  Media Economics Competition and Regulation
- competition and regulation in media markets
- case studies (Google, Facebook, Amazon, Internet-TV/VoD, 
   net neutrality, etc.)

PowerPoint presentations with animations, case studies.

Lecture slides and accompanying material are available in the Moodle course.

- Adler, M. (1985), Stardom and Talent, in: American Economic Review, Vol. 75, 208-212.
- Albarran, A. B. (2002), Media Economics, 2nd Edition, Ames: Iowa State Press
- Albarran, A.B. et al. (2012/eds.), Handbook of Media Management and Economics, London: Routledge.
- Anderson, S. P. & Gabszewicz, J. J. (2006), The Media and Advertising: A Tale of Two-Sided Markets, in: Handbook of the Economics of Art and Culture, Vol. 1, Amsterdam: Elsevier, 567-614.
- Anderson, S. P. & McLaren, J. (2012), Media Mergers and Media Bias with Rational Consumers, in: Journal of the European Economic Association, Vol. 10 (4), 831-859.
- Andersson, A. E. & Andersson, D. E. (2006), The Economics of Experiences, the Arts and Entertainment, Cheltenham: Elgar.
- Belleflamme, P. & Peitz, M. (2012), Digital Piracy: Theory, in: The Oxford Handbook of the Digital Economy, Oxford: OUP, 489-530.
- Budzinski, O. & Lindstädt, N. (2010), Neue Konzepte zur Analyse von Medienmärkten: die Theorie mehrseitiger Märkte, in: Wirtschaftswissenschaftliches Studium (WiSt), Vol. 39 (9), 436-443.
- Budzinski, O. & Monostori, K. (2012), Intellectual Property Rights and the WTO: Innovation Dynamics, Commercial Copyrights and International Governance, in: International Law Research, Vol. 1 (1), 102-118.
- Cave, M.E. et al. (2008/eds.), Handbook of Telecommunications Economics, 2 Volumes, Bingley: Emerald.
- Elberse, A. (2008), Should You Invest in The Long Tail?, in: Harvard Business Review, Vol. 86 (7/8), 88-96.
- Evans, D. S. & Schmalensee, R. (2007), The Industrial Organization of Markets with Two-Sided Platforms, in: Competition Policy International, Vol. 3 (1), 151-179.
- Ferreira, F. & Waldfogel, J. (2013), Pop Internationalism: Has Half a Century of World Music Trade Displaced Local Culture? in: The Economic Journal, Vol. 123, 634-664.
- Franck, E. & Nüesch, S. (2007), Avoiding 'Star Wars': Celebrity Creation as Media Strategy, in: Kyklos, Vol. 60 (2), 211-230.
- Ginsburgh, V. A. & Throsby, D. (2006), Handbook of the Economics of Art and Culture, Amsterdam: North-Holland.
- Haucap, J. & Heimeshoff, U. (2013), Google, Facebook, Amazon, Ebay: Is the Internet Driving Competition or Market Monopolization? DICE Discussion Paper 83, Düsseldorf.
- Hoskins, C., McFayden, S. & Finn, A. (2004), Media Economics, London: Sage.
- Peitz, M. & Waldfogel, J. (2012), The Oxford Handbook of the Digital Economy, Oxford: Oxford University Press.
- Rochet, J.-C. & Tirole, J. (2006), Two-Sided Markets : A Progress Report, in: Rand Journal of Economics, Vol. 37 (3), 645-667.
- Rosen, S. (1981), The Economics of Superstars, in: American Economic Review, Vol. 71 (5), 845-858.
- Shy, O. (2002), The Economics of Network Industries, Cambridge: Cambridge University Press.
Further literature according to lecture materials.