Economics of the Internet: The Digital Revolution

Using microeconomic theory and case studies, this course examines the impact of digital communication technology (DCT) on markets. DCT has enabled connections between economic agents so that information is instantly, continuously and ubiquitously available. We will study the economics of networked markets. Is the Internet eliminating intermediaries yet creating more interdependence? Is there more granularity of economic agents? Is time the new determinant of value? Topics will include graph theory, imperfect information, game theory, anti-trust and competition, innovation, privacy, and social justice and technology policy.