Lecture 1 – Social Media: Definition and Value Creation
This session introduces social media as digital platforms that enable the co-production of content and services. We will explore how platforms create value for users, moving beyond simple metrics like followers and likes to understand deeper mechanisms of engagement and network effects.
Lecture 2 – Economic Theories and the Business Model Canvas
Students are introduced to key economic theories (market positioning, Porter’s Five Forces) and management frameworks (the Business Model Canvas) to analyze social media market positions and business models.
Lecture 3 – Network Economics
The lecture focuses on network economics and introduces the concepts of network effects, positive and negative externalities, and critical mass. We will study how growth dynamics and user interactions shape the success or failure of platforms.
Lecture 4 – The NICE Model
This session presents the NICE model (Novelty, Lock-in, Complementarities, Efficiency) as a framework for analyzing how specific features of social media platforms generate user value and competitive advantage.
Lecture 5 – Transaction Costs
We connect transaction cost theory with social media. Students will learn how platforms act as intermediaries among actors, reducing search, negotiation, and enforcement costs for users. We will also apply this theory to real cases to show how social media platforms can increase or decrease transaction costs.
Lecture 6 – Algorithms, AI, and Transaction Costs
The lecture explains how social media platforms use algorithms and artificial intelligence to further lower transaction costs, streamline decision-making, and personalize user experiences. We will also address risks such as bias, opacity, and power concentration.
Lecture 7 – Public Value and Social Media
We analyze the concept of public value and how social media platforms affect democratic participation, collective well-being, and trust. Case examples illustrate both positive contributions and harmful effects.
Lecture 8 – The Power of Social Media Platforms
This session examines the growing influence of major platforms in shaping information flows, cultural trends, and market power. The discussion includes monopoly/oligopoly dynamics and platform governance.
Lecture 9 – Government Control and Public Value Creation
The final lecture explores the role of governments in regulating social media platforms. We will study possible interventions, from antitrust policies to content moderation, and their implications for public value and individual freedoms.
The course includes two main exams: a Mid-Term Exam and a Final Exam, each consisting of a PowerPoint presentation.