Personal learning goals for Net-centric Economics

My goals for the class are to acquire an understanding of:
• the principles classic economics theory
• how the dynamics of net-centric economics conform to and diverge from the principles of classic economics
• specific reasons, related to the above principles and dynamics, why various net-centric business models have succeeded or failed
• the strengths and weaknesses of networked production models

And:
• enhance my ability to evaluate the viability of net-centric ventures, especially the ones that pop into my head
• get over my proprietary resistance to the concept of user-generated content (specifically in advertising) and identify opportunities to harness it for the benefit of my clients and my business

Reflections on class – 6/30

My primary attraction to this class is that, among the varied the topics pertaining to digital media, economics is where the rubber meets the road. Digital media is upending many paradigms of communication, business, entertainment and social engagement, but the ultimate, even Darwinian, test of whether a new way of doing anything endures is how well it does in the marketplace.

And while I’ve seen the economics of the advertising/marketing communication profession change dramatically and impact my personal bottom line, my perspective has always been reactive. At best, I’ve stayed abreast of how digital properties and business models are succeeding or failing at monetization. And while I’ve observed and experienced the disruption and opportunity resulting from the new economic rules, I’ve not approached topics nor comprehended the forces in the context of classic economics. Monday’s class felt like a first step for me toward establishing that perspective.

Drew’s lesson on doing a critical review was very helpful, especially on defining what the review should accomplish. The advice to put on the reviewer’s hat from page one is a good discipline for me, especially with reads like “Long Tail” which are entertaining and thus make it easier to fool myself into thinking that it’ll be easy to go back later and take real notes.