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The Music Industry as a Vehicle for Economic Analysis

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  • Christopher C. Klein

Abstract

Issues arising in the music industry in response to the availability of digital music files provide an opportunity for exposing undergraduate students to economic analyses rarely covered in the undergraduate economics curriculum. Three of these analyses are covered here: the optimal copyright term, the effect of piracy or illegal file sharing, and the economics of multisided markets. These analyses also apply to the book publishing, newspaper, and motion picture industries to varying degrees. While the mathematical and graphical treatments shown here are likely too advanced for the typical principles course, they are suitable for upper-level undergraduate courses such as Intermediate Economic Theory, Business and Government, Public Policy, Managerial Economics, Music/Media/Entertainment Economics, or others at the discretion of the instructor.

Suggested Citation

  • Christopher C. Klein, 2015. "The Music Industry as a Vehicle for Economic Analysis," The Journal of Economic Education, Taylor & Francis Journals, vol. 46(4), pages 403-411, October.
    • Handle: RePEc:taf:jeduce:v:46:y:2015:i:4:p:403-411
    DOI: 10.1080/00220485.2015.1071220
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    References listed on IDEAS

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    1. Pollock, Rufus, 2007. "Forever Minus a Day? Some Theory and Empirics of Optimal Copyright," MPRA Paper 5024, University Library of Munich, Germany, revised 07 Aug 2007.
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    Cited by:

    1. Franklin G. Mixon Jr. & Cody B. Ward, 2018. "Algebraic Optimization: Tragedy or Treat? Halloween and the Trick-or-Treating Commons," Journal for Economic Educators, Middle Tennessee State University, Business and Economic Research Center, vol. 18(1), pages 28-32, Spring.

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