2018/2019, Semester 2
Lee Kuan Yew School of Public Policy (Lee Kuan Yew School Of Public Policy)
Modular Credits: 4
This is a topics course on Innovation in networks. In particular the focus is on innovation in two-sided markets (or platform mediated networks). These are usually associated with what used to be called information and communications technology and is now referred to as ‘tech’; but they need not be, since newspapers are also two-sided markets. These markets pose bigger hurdles for innovators as well as regulators since they are (potentially) characterized by more market failures than what are thought of as ‘traditional’ industries. Success is neither determined by private (and/or public) R&D spend nor even by a superior product offering. Pricing or value appropriation is also a challenge since below-cost pricing is often optimal in two-sided markets.
Students will learn the basic concepts of network industries and develop an appreciation of how the economics differs from traditional industries, as do the policy interventions. They will understand the role of technology in the development process. They will become intelligent consumers of (and hopefully contributors to) regulatory policy as it relates to network industries and informed contributors to the debates about privacy and data protection in their respective countries.
Introductory Economics Course
Workload Components : A-B-C-D-E
A: no. of lecture hours per week
B: no. of tutorial hours per week
C: no. of lab hours per week
D: no. of hours for projects, assignments, fieldwork etc per week
E: no. of hours for preparatory work by a student per week