Economics of communication
A.A. 2024/2025
Obiettivi formativi
The course aims to provide students the economic instruments for the analysis of the areas of communication and their specific problems with regard to competition, business strategies and public policies. This course is organized with a survey of economic issues in communication and cultural industries. It examines some of the special aspects of these businesses that complicate the market processes, such as the particular nature of demand for experience goods, pricing strategy, scale economies and obstacles to market equilibrium that motivate public policy.
The course will analyze several industries to provide an overview of the markets for different kinds of information goods. We will use the tools of microeconomics and of industrial economics to provide insights about features and processes that explain the specific outcomes observed in the markets for experience goods, cultural goods and information goods.
The course will analyze several industries to provide an overview of the markets for different kinds of information goods. We will use the tools of microeconomics and of industrial economics to provide insights about features and processes that explain the specific outcomes observed in the markets for experience goods, cultural goods and information goods.
Risultati apprendimento attesi
At the end of the course students should have developed the ability to understand economic dimensions of cultural and communication industries, the knowledge of the main specific economic tool used in this context and the comprehension of competition and regulation of this particular area of economic activities.
Critical and judgment skills will be developed through policy discussions and the analysis of specific cases.
The practical work on a case study will be useful to develop the ability to communicate what has been learned and to refine critical and judgment skills.
Critical and judgment skills will be developed through policy discussions and the analysis of specific cases.
The practical work on a case study will be useful to develop the ability to communicate what has been learned and to refine critical and judgment skills.
Periodo: Primo trimestre
Modalità di valutazione: Esame
Giudizio di valutazione: voto verbalizzato in trentesimi
Corso singolo
Questo insegnamento può essere seguito come corso singolo.
Programma e organizzazione didattica
Edizione unica
Responsabile
Periodo
Primo trimestre
Programma
Industries examinated will include:
· Movie business: the project nature of production, vertical integration, specific contingent contract
· Music and publishing with emphasis on intellectual property
· Television and radio and the fundamental differences between public and private broadcasting market
· Art market
· Live performances
· Museum and cultural heritages
· Book publishing
Main economic topics include: Production and costs (fixed and variable); Demand and elasticity; Perfect competition and monopoly;
Oligopoly; Vertical integration; Market definition and concentration; Windowing and price discrimination; Definition of media markets; Two sided market. Barriers to entry; Collusion and price war; Differentiation and Pricing; Advertising and competition; Public policy and antitrust .
Topics more related to the economics of cultural sector are: Costs desease, Team production, Subsidies in cultural sector, Merit goods, Principal agent model, Copyright and piracy, Transaction cost theory of the firm, Product novelty and perceived risk, nobody knows, Search and information costs: gate keepers and critics, network effects, bandwagon and snowball
· Movie business: the project nature of production, vertical integration, specific contingent contract
· Music and publishing with emphasis on intellectual property
· Television and radio and the fundamental differences between public and private broadcasting market
· Art market
· Live performances
· Museum and cultural heritages
· Book publishing
Main economic topics include: Production and costs (fixed and variable); Demand and elasticity; Perfect competition and monopoly;
Oligopoly; Vertical integration; Market definition and concentration; Windowing and price discrimination; Definition of media markets; Two sided market. Barriers to entry; Collusion and price war; Differentiation and Pricing; Advertising and competition; Public policy and antitrust .
Topics more related to the economics of cultural sector are: Costs desease, Team production, Subsidies in cultural sector, Merit goods, Principal agent model, Copyright and piracy, Transaction cost theory of the firm, Product novelty and perceived risk, nobody knows, Search and information costs: gate keepers and critics, network effects, bandwagon and snowball
Prerequisiti
In order to follow the course the student it supposed to have:
Some basic economic ideas about supply and demand; competition and monopoly
Some knowledge of media organizations and markets. Information products.
Some familiarity with graphs and curve representations.
Students without this knowledge can catch up with recommended readings at the beginning of the course.
Some basic economic ideas about supply and demand; competition and monopoly
Some knowledge of media organizations and markets. Information products.
Some familiarity with graphs and curve representations.
Students without this knowledge can catch up with recommended readings at the beginning of the course.
Metodi didattici
The course is based on lectures, guided classroom discussions and exercises.
in the second part of the course, attending students will be involved in a group project where a sector or a market of cultural goods will be analysed
in the second part of the course, attending students will be involved in a group project where a sector or a market of cultural goods will be analysed
Materiale di riferimento
Ruth Towse, 2013, A textbook of Cultural economics, Cambridge University Press;
Lipczinski, Wilson Goddard, 2013, Industrial organization: Competition, Strategy and Policy, Pearson
Evan, Schmalensee, The industrial organization of market with two sided platform
Canoy M, J. van Ours, F.van der Ploeg, 2007, The economics of books,
Chapters to be prepared and other papers will be indicated on the course's Ariel website
Lipczinski, Wilson Goddard, 2013, Industrial organization: Competition, Strategy and Policy, Pearson
Evan, Schmalensee, The industrial organization of market with two sided platform
Canoy M, J. van Ours, F.van der Ploeg, 2007, The economics of books,
Chapters to be prepared and other papers will be indicated on the course's Ariel website
Modalità di verifica dell’apprendimento e criteri di valutazione
The written exam consists of open questions with short answers.
For attendant students grade will be based on midterm exam, evaluation of a n individual paper and presentation of the workgorup.
For attendant students grade will be based on midterm exam, evaluation of a n individual paper and presentation of the workgorup.
Siti didattici
Docente/i
Ricevimento:
mercoledì dalle 12,15 alle 14,15 - Il ricevimento di mercoledì 5 giugno è sospeso
DEMM stanza 20