"Hoskins, McFadyen and Finn de-dismalise economics. Their book is
clearly written, full of cogent and apposite examples and analyses
persuasively what makes media and communications like, and unlike,
other economic sectors. From network externality to public good,
from experience goods to superstars, from dumping to quotas they
lucidly guide the reader through the tangles of the new economy and
why it now matters less if maids burn books. Eat your heart out
Thomas Carlyle." -Richard E. Collins, The Open University, U.K. How
does the Internet affect the supply of information-based
entertainment and cultural goods? Why do telephone companies have
peak and off-peak prices for long-distance calls? Why is
broadcasting, but not newspaper publishing, usually regulated and
sometimes subsidized? Media Economics: Applying Economics to New
and Traditional Media provides a thorough foundation of the
microeconomic principles and concepts needed to understand media
industries and issues in the converging media environment. Media
Economics differs from ordinary media economic texts by taking a
conceptual approach to economic issues. As the book progresses
through economic principles, authors Colin Hoskins, Stuart
McFadyen, and Adam Finn use cases and examples to demonstrate how
these principles can be used to analyze media issues and problems.
Media Economics emphasizes economic concepts that have distinct
application within media industries, including corporate media
strategies and mergers, public policy within media industries, how
industry structure and changing technologies affect the conduct and
performance of media industries, and why the United States
dominates trade in information and entertainment. Key Features
Chapter opening vignettes introduce the issues analyzed in each
chapter Concise definitions of key terms for a clear understanding
of basic microeconomic and managerial economic concepts Examples
from a variety of media industries including those in the United
States, Canada, the United Kingdom, and Australia A concept-driven
approach enabling a longer shelf-life as technologies, structures,
and revenues change A recognition of the reality of convergence and
consolidation in media industries rather than addressing each media
outlet individually Media Economics assumes no prior background in
economics and is designed for undergraduate and graduate students
studying media economics and media industries. The book is an ideal
text for public policy and the media as well as media and society
courses with an economic perspective taught in Media Studies,
Communication, Business, Journalism, Film Studies, Political
Studies, and Economics programs.
General
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