Media Economics

Korea University

Course Description

  • Course Name

    Media Economics

  • Host University

    Korea University

  • Location

    Seoul, South Korea

  • Area of Study

    Economics, Media Studies

  • Language Level

    Taught In English

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credits

    3
  • Recommended U.S. Semester Credits
    3
  • Recommended U.S. Quarter Units
    4
  • Overview

    Course Overview
    This course examines the media industries from an economic point of view. It provides microeconomic foundations, industrial organization models and antitrust tools needed to understand media firms, industries and policies. A number of examples from various media industries are discussed. This will be a mainly lecture/discussion oriented class.

    Main Texts:
    Lecture notes are available for some selected topics. Other references and reading materials will be announced/distributed during the class. In particular, I recommend the following textbook:
    Hoskins, Colin, Stuart McFadyen and Adam Finn (2004), Media Economics:Applying Economics to New and Traditional Media, SAGE Publications.

    Course Outline:
    1. Introduction: Why Media Economics?
    2. Main Characteristics and Economic Issues in Media Industries
    3. Basics of Game Theory
    4. Games of Network Choice
    5. Scheduling Competition in the Broadcasting Industry
    6. Program-Type Competition in the Broadcasting Industry
    7. Market: Demand and Supply
    8. Theory of Consumption
    Midterm Exam
    9. Consumer Surplus and Flat-Fee Pricing
    10. Theory of Production and Cost
    11. Perfect Competition and Monopoly
    12. Price Discrimination and Bundling
    13. Regulation of Monopoly
    14. Monopolistic Competition and Oligopoly
    15. Basics of Antitrust Analysis
    16. Allocation of Radio Spectrum
    17. Other Applications in the Media Industries
    Final Exam

Course Disclaimer

Courses and course hours of instruction are subject to change.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.

Please reference fall and spring course lists as not all courses are taught during both semesters.

Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations

Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.