Economics of Information and Communications
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Course Title: Economics of Information and Communications
Course No: IT230
Nature of the Course: THEORY
Semester: 8
Credit Hours: 3
Course Description
Course Objectives
Course Contents
2.2. Introduction to Information economy
- Definition of information good
- The cost of producing information
- Managing intellectual property
- Economic and public good
- The economics of attention
2.3. Technology
- Systems competition
- Lock-in and switching costs
- Positive feedback, network externalities, and standards
3.3. Information problems
- The moral hazard problem
- The Adverse-Selection Problem
4.1. Pricing Information Goods
- Cost of producing information
- Costs and competition
- Product Personalization
- Product pricing
- Personalized pricing
- Versioning
- Group pricing- Price sensitivity, Network effects, Lock-in, Sharing
4.2. Versioning Information
- Types of versioning
- Value-subtracted versions
- Avoiding pitfalls in versioning
- On-line and off-line versions
- Goldilocks pricing
- Customizing the browser
- Bundling
- Promotional pricing
5. Rights Management
3 hrs
6.1. Recognizing Lock-In
- Examples of lock-in
- Valuing an installed base of customers
- Classification of lock-in
- Suppliers and partners face lock-in, too
- The lock-in cycle
6.2. Managing Lock-In
- Lock-in strategy for buyers
- Lock-in strategy for sellers
- Investing in an installed base
- Encouraging customer entrenchment
- Leveraging your installed base
8.1. Cooperation and Compatibility
- How standards change the game
- Winners and Loser from standards
- Tactics in formal standard-setting
- Managing open standards: Case Study- Linux Adoption in the Public Sector: An Economic Analysis
8.2. Waging a Standards War
- Classification of standards wars
- Information-age standards wars
- Key assets in network markets
- Two basic tactics in standards wars
- Capstone case: Microsoft vs. Netscape,
11.1. Hollywood, defined, Hollywood's economic leadership, Economic analysis of the Hollywood system
11.3. The economic drivers of Hollywood's global
- Competitive advantage
- Factor conditions
- Relating and supporting industries
- Strategy, structure and rivalry
- Demand conditions
- The potential threats to Hollywood's global primacy in an evolving landscape
12.4. Information systems in crisis
- Introduction
- Exploring key information resources
- Fundamental components of an information environment
Reference Books
- 1.Robert S. Pindyck and Daniel S. Rubinfeld. Microeconomics, 5th Edition, PHI.(ISBN: 81-203-2336-X )
- 2.H. Craig Petersen and W. Cris Lewsi. Managerial economics. (ISBN: 81-203-0963-4)
- 3.Carl Shapiro and Hal R. Varian. Information Rules: A Strategic Guide for the Network Economy. Harvard Business School Press, Cambridge, MA, 1998.
- 4.Roy J. Ruffin and Paul R. Gregory: Principles of economics. 7th edition, Addison Wiley Pub, 2000.
- 5.Don Tapscott. The digital economy: Promise and peril in the age of networked intelligence. McGraw-Hill. (ISBN : 0-07-063342-8)
- 6.Amrit Tiwana. The knowledge Management Toolkit: Practical techniques for building a knowledge Management System. Pearson Education . (ISBN 981-405-873-4)
- 7.Efraim Turban, Jae Lee, David King, H. Michael Chung. Electronic Commerce- A managerial Perspective. Pearson Education. (ISBN: 81-7808-362-0)
- 8.Niraj K Gupta. The Business of telecommunication- Networking in the New Millennium. Tata McGraw-Hill. (ISBN: 0-07-463497-6)
- 9.Pete Moulton. The telecommunications survival guide. Pearson Education. (ISBN: 81-7808-302-7)
- 10.Information Technology for development. IT Policy and Strategy papers for Nepal. HMG of Nepal, NPC Secretariat, Kathmandu, Nepal.
- 11.An Introduction to the Economics of Information 2nd Edition Oxford –Ines Macho-Stadler and J.David Tiz Castrillo