JCU Logo

JOHN CABOT UNIVERSITY

COURSE CODE: "EC 385"
COURSE NAME: "Economics of the New Economy"
SEMESTER & YEAR: Spring 2016
SYLLABUS

INSTRUCTOR: Virginia Silvestri
EMAIL: [email protected]
HOURS: TTH 4:30 PM 5:45 PM
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Prerequisites: Junior Standing, EC 201
OFFICE HOURS:

COURSE DESCRIPTION:
This course examines the economic effects of digital technology and e-commerce. The purpose of the course is to analyze the changes brought about by these technological advances and the effects such changes have had, or are expected to have, on economic agents such as consumers and workers as well as on the structure of economic markets"



SUMMARY OF COURSE CONTENT:
This course will analyze the economics of information goods and digital information technologies, in particular by analyzing what kind of pricing schemes and business models are likely to emerge in these markets, and their consequences in terms of social welfare and the likely evolution of the market. References to antitrust issues and regulatory issues will be frequently made during the course.



LEARNING OUTCOMES:
At the end of this course students are expected to be able to apply economic analysis and make sound economic reasoning with reference to business phenomena in digital information markets and online markets.



TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
Information Rules: A Strategic Guide to the Network EconomyShapiro & VarianHarvard Business Review Press ISBN-10: 087584863X ISBN-13: 978-0875848631     
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Midterm Exam 1Exam may consist of multiple choice questions, true/false/explain, short answer, and long answer problems. It will cover all the material taught up until the class before the exam day. Regardless of the type of format, the nature of the question can be analytical.18%
Midterm Exam 2Exam may consist of multiple choice questions, true/false/explain, short answer, and long answer problems. It will cover all the material taught up until the class before the exam day. Regardless of the type of format, the nature of the question can be analytical.22%
Project or Case StudyThe project may consist in an individual or group specific research on an economic aspect of digital markets that may raise competitive concerns, or that constitutes a hotly debated issue; alternatively, the research may start from a real world case, and apply the economic analysis studied to it, to draw sound conclusions. The assessment will be made on the presentation made in class and/or on a brief research paper (approximately 1000-1300 words).25%
Final Exam Exam may consist of multiple choice questions, true/false/explain, short answer, and long answer problems. It will be cumulative, that is it will be about all the material covered throughout the course. Regardless of the type of format, the nature of the question can be analytical.35%

-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.

-ATTENDANCE REQUIREMENTS:
Given the nature of the subject (fairly abstract), attendance is STRONGLY recommended and very beneficial. Later on I will post on MYJCU and circulate a much more detailed syllabus with the exact exam dates. Active participation during the class (not just attendance) will be rewarded with extra credits at the end of the course. 

POLICY ON ABSENCES: In general, there will be no make-­up for missed exams. If, for any compelling reason, you happen to miss a midterm exam, I want you to notify me ahead of time (if possible), and I would ask you to provide me with a formal and valid justification for the absence. If I deem the justification is legitimate and deserves attention, then I would let you take a make-­up exam. Note: Specific policies for the final exam are put in place by the School and I shall comply with them. 

POLICY ON EXAM: 
- Exams will be closed­books exams (no books, no notes....). 
- There will be different versions of the exam.
- Clarification questions during exams are welcome. Should you have any doubts about the phrasing/wording/spelling of the questions, please raise your hands and ask me for clarifications. Please, do not improvise unless you are sure to understand the question. No acceptance from students’ complaints about phrasing/wording/spelling after the grades are out.
- If any student attempts to communicate with other students or to glance at other students exam sheet while I take questions, I stop taking questions altogether and no longer allow students to ask questions. I might also take disciplinary actions. The same goes for attempts to copy and all other forms of cheating.
- Buy a basic calculator and always bring it with you. Do not forget it. When using the calculator, I want students to take the calculator out of its case and to put the case away. I will not let students borrow calculators from one another.
- The use of mobile phones and devices during exams is strictly forbidden. 
- You will be required to put everything away and leave bags, mobile phones and all belongings at the front or back of the classroom and not by the student's chair.
- Please, be advised that no bathroom breaks will be allowed during the exams, so make sure to use the restroom before the exam begins.


ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.
STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

Weeks 1 and 2 Preliminary aspects: microeconomics review - perfect competition, monopoly, oligopoly and social welfare

Week 3  The economics of information goods: information as a public good and intellectual property rights (IPRs)

Week 4 Multi-sided market theory and indirect network externalities

Week 5 and 6 The economics of payment systems

Week 7 The advent of the Internet, Internet as a multi-sided platform

Week 8 Network Issues: Interoperability and standards                                   

Weeks 9 and 10 Network Issues: Net neutrality, US/EU comparison                 

Week 11 Search, advertising and e-commerce                     

Weeks 12  Big data, cloud and security             

Week 13  Technological neutrality and convergence in ICT: video, contents and applications            

Week 14  Review for final exam