Klein on the Networked Economy
5 WEEKS, JANUARY 19, 2011 FEBRUARY 16, 2011 $110What is the new, networked economy all about? What are “information goods” and how do they differ from traditional goods? How are online businesses different from brick-and-mortar establishments? Is the large firm with its centralized managerial hierarchy obsolete, to be replaced by decentralized, disaggregated, peer-to-peer communities? Is government regulation needed to keep digital markets free, fair, and open? More generally, does the new economy call for a new kind of economics, or is traditional economics still useful?
This course, Networks and the Digital Revolution: Economic Myths and Realities with Peter Klein, suggests answers to these and related questions, focusing on recent examples, applications, and illustrations, while grounding the discussion on basic economic principles. We begin by studying the growth of the Internet, wireless communication networks, and related technologies, trying to assess just how widely information technology has diffused throughout the economy. We then explore how these changes in technology, along with changes in regulation and global competition, have affected firm boundaries, competition, human resource management, regulation, sources of financing, and the assignment of property rights.
The weekly live video-broadcast lectures will be Wednesdays at 8:00 pm EST. Live attendance is not required; recordings of all live sessions will be made available to students.
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