CCT219H5

Media Economics I

This course presents economic principles that explain how markets help organize exchange and production among competing but nevertheless cooperating economic units. Theories of consumer demand, the economic nature and function of business firms, optimal business decision rules of monopoly, oligopoly, and anti-combines regulations, as well as game theory, are presented. Efficiency criteria pertaining to the operation of firms and markets, the role of property rights, and the scope for public policy, are also examined.