Module description
This module explores the role and challenges introduced by digital technologies and the key strategic drivers behind the growth of the digital economy.
The first half of the course will begin from an understanding of what the economy is, how it operates in the digital domain and what practices and models exist. Key concepts and digital economic practices such as innovation and disruption will be introduced in The Attention Economy, the Long Tail model, the Information or Knowledge Economy and the Web Economy. We will be exploring what “innovation” means, how industries need to transform themselves in order to gain a competitive advantage in the market, and what are likely to be the industries of the future. A close examination of the role of free labour and exploitation in digital economic practices will help students to contextualise some key debates within digital economy.
The second half of the module will delve deeper into the rise and popularity of digital ecosystems, with examples from cloud-based services, the internet of things and the collaborative, or Produsage, economy. The changing nature of ecosystems and users from passive to active producers of information and content will then be examined by looking at different economic models, including direct monetisation, community and co-operation models. Examples from the sharing economy such as Uber and Airbnb, but also Wikipedia and Instagram will be reviewed and contextualised.
Finally, the role of the new producer/consumer in defining digital economic practices will be summarised. Emphasis will be placed on examining the idea of audiences as active users and producers of economic activity.
Assessment details
Coursework 2000 word essay 100%
Learning outcomes
On successful completion of this module students will:
- Be able to identify and explore the challenges of a digital economy;
- Have acquired a critical understanding of the difference, and similarities, between attention, information, and the Web economy;
- Be able to assess the strengths and limitations of digital economic models, especially in relation to audiences and consumers;
- Apply key theories and concepts to case studies and recent innovations in the Web economy