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Infos to the Course  "New Economy" 

Lecturer: Franz Hackl

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General Information on the Course

By the end of this course, students should be in a position to apply and discuss the basics of economic information in the economic decision making processes as applied to fields of communication and information technologies from an economic standpoint.

Students of economics and business sciences (also students of "Business Informatics" or "Economic & Business Analytics), who are interested in management decisions in the markets of information goods as well as communication- and information technologies. 

Strategies on product and price differentiation for information goods such as software, newspapers, news, music, movies, etc. will be analyzed as well as strategies for system decisions such as switching cost, lock-in cycle, classification of lock-in, valuing an installed customer base, etc. In addition, network externalities (networks in an economic sense!) will be covered, including collective switching cost and migration paths. Which strategies can be applied in order to develop standards and alliances? Openness versus control, tactics in formal standard-setting or standard wars will be discussed. The course is based on practical examples, i.e. Microsoft, to illustrate competition policies such as regulations, syndicates and so on.

  • Carl Shapiro, Hal R. Varian, Information Rules – a strategic guide to the network economy, Harvard Business School Press, Boston MA, 1999.
  • Oz Shy, The Economics of Network Industries, Cambridge University Press, Cambridge UK, 2001.
  • Lynne Pepall, Daniel Richards, Gerorge Norman, Industrial Organization: Contemporary Theory and Practice, South-Western College Publishing, 2. ed, 2002.
  • David Lucking-Reiley, Auctions on the Internet: What's being auctioned, and how?, The Journal of industrial economics 18(3), 2000, 227-252.
  • Josh Lerner and Jean Tirole, Some Simple Economics of Open Source, 50(2), 2002, 197-234.
  • Oxford Review of Economic Policy, Vol. 17, No. 2 – Sammlung von Surveyartikel über unterschiedliche Themenbereiche der New Economy
     

Contents of an introductory microeconomics course are assumed.

English and German: The lectures will be held in German but the slides and videos are available in English. 

The course will be held in presence at JKLU in the winter term 2022/23.

There are two exam dates on site at JKU. Your personal attendance is required. 

  • February 2, 2023 from 10:15 to 11:45 in HS 7.
  • February 23, 2022 from 10:15 to 11:45 in HS 7.

If the current Covid situation does not allow exams at JKU, there may be changes. 

You can take one or both dates. The better grade counts.

 

Detailed information and materials for the course (password is necessary)

  • What is the Intention of the Homework (PDF), opens an external URL in a new window  
  • I would like to point out that plagiarism (i.e. work in which other sources have not been properly cited) will be rigorously punished.
  • Refrain from an extensive product description and get to the topic!!
  • You must have the topic confirmed by the LVA instructor!
  • Submission (electronic+paper) at the latest at the 1st exam.
  • Use the discussion forum in Moodle if you are looking for a "partner"!

  • There is one written exam with 10 questions of 2 points each. Thus, a maximum of 20 points are achievable. You need at least 10 points for a positive certificate.
  • You have to write a term paper which you have to write together with another student. For this homework you get a maximum of 10 points. You need at least 5 points for a positive certificate. You are welcome to discuss aspects of the paper with me before it is officially submitted. However, no revision is possible after the evaluation!

Remark: all Videos and Slides are online - please let me know if there are wrong or broken links!

  • Prerequisite for this course is the completion of Introduction to Microeconomics
  • These requirements are also covered in the following book: Varian, Grundzüge der Mikroökonomik, 3rd edition, Verlag Oldenburg: 15!, 16,17,18!, 19, 20! 21!, 22, 23! , 24.