Economics of Communication and Information

This course provides an introduction to economic aspects of communications and information. It starts with a macro view: what are the definition and scope of the "information economy" and how have occupational and industrial structures been changing? The focus then changes more toward micro-economics and the next topics relate to information as a factor of production and productivity in the information/service sector of the economy. We then turn to a detailed analysis of economics of scale and economies of scope--both in general and in the specific case of publishing and telecommunications. The issues relating to efficient and equitable pricing have re-emerged with the current changes in telecom regulation and the growth of the Internet. In our review of several pricing studies, we will cover areas such as network economies and risk analysis. Depending on time and interests, additional topics may be included.