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ELE 3718 Media Economics

APPLIES TO ACADEMIC YEAR 2016/2017

ELE 3718 Media Economics


Responsible for the course
Mona K Solvoll

Department
Department of Communication and Culture

Term
According to study plan

ECTS Credits
7,5

Language of instruction
English

Introduction
This course deals with topics related to marketing, market communication, public relations, business and management.

Please note
This course has some overlapping issues with the elective courses ELE 3755 Mediasociology and mediaeconomy (7,5 credits), held in Norwegian only. Consequently a combination of these courses can not be approved in a Bachelor's degree.

Learning outcome
Acquired Knowledge
Students shall develop a basic understanding of how the media industry is organized, its business practices, operations, content and technology and policy regulation. Furthermore students will acquire an understanding of both traditional media sectors as well as the digital media, focusing on news media.

Acquired Skills
Students shall be able to describe and explain the debates between different economic theories on current media issues as well as the major economic changes that have taken place. They shall be able to apply interpretations of research and economic theories in explaining media opportunities and risks for business enterprises as well as regards marketing and public relations.

Reflection
The students shall develop an understanding of the key mechanisms in media economics and in an ethical perspective make a judgement of how these influence the media market and the media output.

Prerequisites
None

Compulsory reading
Books:
Doyle, Gillian. 2013. Understanding media economics. 2nd ed. Sage. 232 pages

Book extract:
Carl Shapiro and Hal Varian. 1999. Information Rules. chapter 3 Versioning Information
Vogel, Harold. 2015. Entertainment Industry Economics: A Guide for Financial Analysis. 9th ed.. Chapter 2: basic Elements


Articles:
Curien, Nicolas & Moreau, Francois. 2009. The Music Industry in the Digital Era. Journal of Media Economics. 22:2. 102-113
Gaustad, Terje. 2002. The Problem of Excludability for Media and Entertainment Products in New Electronic Market Channels. Electronic Markets. 12:4. 248-251
Hallvard Johnsen og Mona Solvoll. 2007. The Demand for Televised Football. European Sport Management Quarterly. 7: 4. 311-335
Huang, Sonia J. og Wang, Wei-Ching. 2014. Application of the Long Tail Economy to the Online News market. Journal of Media Economics. 27:3. 158-176
Jens Barland. 2013. Innovation of New Revenue Streams in Digital Media: Journalism as Customer Relationship. Nordicom Review. 34. 99-112
Kvalheim, Nina. 2014. News Behind the Wall: An Analysis of the Relationship Between the Implementation of a Paywall and News Values. Nordicom Review. 3. 25-42
Richard van der Wurff. 2011. Are News Media Substitutes? Gratifications, Contents and Uses. Journal of Media Economics. 24:3. 139-157
Thomas Eisenmann et al.. 2006. Strategies for Two- Sided Markets. Harvard Business Review. 92-101
Wouter van der Velde, Olaf Ernst. 2009. The future of eBooks? Will print disappear? An end-user perspective. Library Hi Tech. 27 (4). 570-583


Recommended reading

Course outline

  • Introduction to media economics - key characteristics of the media (Macro- and microeconomics, the firm, competitive market structures)
  • Public goods versus private goods (Business models for television (PSB, commercial, Pay per view) and news production (online and print))
  • Old and new supply chains in media – co-production with customers (Growth strategies, convergence, expansion and integration, produsage in content-driven media)
  • Economics of media firms - “a market point of view” or “a social policy point of view” (The advertising industry, public policy and consumer choices)
  • Characteristics of major media sectors (Television, print and internet newspapers, music industry, film and publishing)
  • Digital media economics (Business models, transaction cost theory, windowing, rights)
  • The global media economics (Media ownership, media houses, technological and cultural constrains and opportunities)

Computer-based tools
No specified computer-based tools are required.

Learning process and workload
Teaching takes place throughout the semester organized as lectures (36 hours).

The lectures will cover important issues and theories of the field.

Recommended workload in hours:
Activity
Hours
Attending lectures
36
Preparation for lectures
72
Self-study/reading literature for exam
92
Total recommended use of time
200



    Examination
    A 72-hour take home examination concludes the course.
    The home examination is given over an assigned topic and can be solved individually or in groups of no more than three students. The home examination accounts for 100% of the course grade.

    Examination code(s)
    ELE 37181 - 72-hours take-home examination, counts for 100% towards the final grade in ELE 3718 Media Economics, 7.5 credits.

    Examination support materials
    All support materials are permitted.
    Support materials at written examinations are explained under exam information in our web-based Student handbook. Please note use of calculator and dictionary. https://at.bi.no/EN/student-information/examination/support-materials


    Re-sit examination
    For electives re-sit is normally offered at the next scheduled course. If an elective is discontinued or is not initiated in the semester it is offered, re-sit will be offered in the electives ordinary semester.

    Additional information
    Bachelor of Media Management and Jounalism:
    JOU 3548 Economic and development in media replaced by ELE 3718 Media Economics.

    Please note
    This course has some overlapping issues with the elective courses ELE xx13 Mediasociology and mediaeconomy (7,5 credits), only given in Norwegian. Consequently a combination of theese courses can not be approved in a Bachelor's degree.