Learning goals

2 07 2008

This quarter I hope to learn how economic theory applies to the digital media industry. I hope to develop my knowledge of digital economics so that I can better determine successful digital media business models today and mold perspectives about how these models might evolve.

As a PR professional, clients ask me to think about what stories target audiences would be interested in reading about, how to favorably position them in coverage. I rarely think about what business objectives news organizations need to accomplish and should take into account that their business decisions do affect editorial direction. My increased knowledge of their business models and challenges in the digital media market will aid my ability to counsel what stories are in the best interest of my clients and the news organizations we work with.

I took micro- and macroeconomics as an undergrad (to some success), so I am also interested to learn how digital goods challenge or reinforce traditional economics theories. For example, consumers assume that digital news content should be free. (The majority of news sources do make their content free and create this consumer expectation.) Considering this, how do news organizations differ their business models from print or broadcast to online to stay afloat? How are the markets different? How are they the same? Can news organizations sustain varying models for physical and digital goods?

In addition to reading texts, I look forward to participating in class discussions and gaining insights from classmates. I hope to learn how they interpret economics in their professional industries as well as my own.

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One response

7 07 2008
kegill

Good observation about consumer expectations … that extends to things other than free content online.

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