This course examines the economic principles that underlie digital competition and innovation. It begins by introducing basic microeconomic principles and then delves into exploring the strategies of firms and governments in the digital economy, along with their implications for markets, consumers, and society. The course introduces a wide range of topics, including network effects, platform competition, data privacy issues, intellectual property, and antitrust policy.
LEARNING OUTCOMES
Demonstrate a fair understanding of the basic microeconomic principles that form the foundation of digital competition and innovation.
Apply microeconomic concepts such as supply and demand, market structure, cost analysis, and pricing strategies to analyze and interpret the functioning of digital markets.
Identify and explain the key economic drivers behind digital competition and innovation, including factors such as economies of scale, network effects, and information asymmetry.
Apply economic reasoning to analyze the effects of digital competition and innovation on market outcomes, including consumer surplus, producer surplus, market efficiency, and market concentration.
Evaluate the role of government intervention and regulation in digital markets from a microeconomic perspective, considering both the benefits and potential distortions they may introduce.
KNOWLEDGE AND UNDERSTANDING
Demonstrate knowledge and understanding of the economic principles that shape digital competition and innovation, including the key theories, concepts, and models relevant to the field.
Explain the relationship between digital markets, the digital economy, and society, considering the interplay of economic factors, technological advancements, and social dynamics.
Recognize and evaluate the implications of digital competition on markets, consumers, and society, including both positive and negative outcomes.
APPLYING KNOWLEDGE AND UNDERSTANDING
Analyze real-world case studies to digital economy, innovation and related policy interventions.
Assess the effectiveness of different strategies employed by firms and governments in the digital economy.
Evaluate the effects of digital competition on market outcomes, consumer welfare, innovation, and overall economic efficiency.
MAKING JUDGEMENTS
Critically evaluate the economic implications of different strategies and policies in the digital economy, taking into account their potential benefits, drawbacks, and unintended consequences.
Assess the ethical and social considerations associated with digital competition and innovation, weighing the trade-offs between economic efficiency, consumer welfare, privacy, equity, and societal well-being.
Formulate reasoned judgments and arguments based on economic analysis, incorporating relevant evidence and counterarguments in support of specific positions or policy recommendations.
COMMUNICATION SKILLS
Effectively communicate economic concepts, theories, and analysis related to digital competition and innovation, using clear and concise language that is appropriate for diverse audiences, including policymakers, industry professionals, and the general public.
Present economic arguments and findings in a coherent and structured manner.
Engage in discussions and debates on economic issues related to digital ecomomy and innovation.
LEARNING SKILLS
Engage in independent and self-directed learning, demonstrating the ability to acquire and integrate new knowledge and perspectives related to the economics of digital competition and innovation.
Locate, evaluate, and critically analyze relevant academic literature, research papers, and industry reports to deepen understanding and support arguments.
Collaborate effectively in group work and team projects, contributing actively, respecting diverse perspectives, and leveraging collective expertise to achieve shared learning objectives.
LEARNING OUTCOMES
Demonstrate a fair understanding of the basic microeconomic principles that form the foundation of digital competition and innovation.
Apply microeconomic concepts such as supply and demand, market structure, cost analysis, and pricing strategies to analyze and interpret the functioning of digital markets.
Identify and explain the key economic drivers behind digital competition and innovation, including factors such as economies of scale, network effects, and information asymmetry.
Apply economic reasoning to analyze the effects of digital competition and innovation on market outcomes, including consumer surplus, producer surplus, market efficiency, and market concentration.
Evaluate the role of government intervention and regulation in digital markets from a microeconomic perspective, considering both the benefits and potential distortions they may introduce.
KNOWLEDGE AND UNDERSTANDING
Demonstrate knowledge and understanding of the economic principles that shape digital competition and innovation, including the key theories, concepts, and models relevant to the field.
Explain the relationship between digital markets, the digital economy, and society, considering the interplay of economic factors, technological advancements, and social dynamics.
Recognize and evaluate the implications of digital competition on markets, consumers, and society, including both positive and negative outcomes.
APPLYING KNOWLEDGE AND UNDERSTANDING
Analyze real-world case studies to digital economy, innovation and related policy interventions.
Assess the effectiveness of different strategies employed by firms and governments in the digital economy.
Evaluate the effects of digital competition on market outcomes, consumer welfare, innovation, and overall economic efficiency.
MAKING JUDGEMENTS
Critically evaluate the economic implications of different strategies and policies in the digital economy, taking into account their potential benefits, drawbacks, and unintended consequences.
Assess the ethical and social considerations associated with digital competition and innovation, weighing the trade-offs between economic efficiency, consumer welfare, privacy, equity, and societal well-being.
Formulate reasoned judgments and arguments based on economic analysis, incorporating relevant evidence and counterarguments in support of specific positions or policy recommendations.
COMMUNICATION SKILLS
Effectively communicate economic concepts, theories, and analysis related to digital competition and innovation, using clear and concise language that is appropriate for diverse audiences, including policymakers, industry professionals, and the general public.
Present economic arguments and findings in a coherent and structured manner.
Engage in discussions and debates on economic issues related to digital ecomomy and innovation.
LEARNING SKILLS
Engage in independent and self-directed learning, demonstrating the ability to acquire and integrate new knowledge and perspectives related to the economics of digital competition and innovation.
Locate, evaluate, and critically analyze relevant academic literature, research papers, and industry reports to deepen understanding and support arguments.
Collaborate effectively in group work and team projects, contributing actively, respecting diverse perspectives, and leveraging collective expertise to achieve shared learning objectives.