Economic Theories of the New Media

1. This lesson introduces a number of economic theories used to describe the new media economy. Which of these theories do you find most useful for understanding your role in the economic system?
2. Based on ideas and concepts explored in this week's readings, write a 400-500 word essay outlining how you observe basic economic theory in your day-to-day life. How does your use of new media align with economic concepts? You can exceed the minimum word count by any factor, be certain to fully develop and explain your ideas.
Starting this week, you should approach these assignments as publishable articles, essays, or blogs. Your writing is expected to be more closely aligned with being a researched artifact. This means that all writing must be accompanied by citations, and should draw from credible sources and not just your own experience. While wikipedia may be a place to start your research, it is not appropriate as a credible source. All well-written wikipedia articles include the primary sources themselves as citations at the bottom of the article. Be diligent in tracking down which source the wikipedia article is using as your own primary source rather than citing anything directly from wikipedia.
The study of economics is strengthened through the extension of what has come before into products or expectations/predictions for the future. Your assignments are meant to focus on the topic at hand through scholarly discourse. Doing research to find and utilize recognized and credible sources is a key component of economics as a discipline and the weekly assignments. You may use the required reading as a source (properly cited), but I expect you to find additional sources where ever possible and as appropriate.
The audience for your assignments is not the instructor or the class, but rather the general public. Do not assume too much in previous knowledge. Write with this in mind, so please do not start your paper with a comment such as "In this week's asignment I will be looking at..." rather, restate the assignment prompt as an introduction to your essay.
Citations and footnotes from this week's readings and all outside sources required.