Data Science

General The aim of the course is to introduce students to the economics of digital markets, which are often dominated by large platforms. Students are expected to gain insight into the main features of digital markets, such as: network effects; complementarity, compatibility, and standards; switching costs and lock in; scale economies. They are also expected to comprehend and assess how these specific features of technology and demand can affect market structure, firms’ strategies, and public policy in digital markets. At the end of the course, students should be able to use methods and models of microeconomics and industrial organization to understand and analyze the competitive dynamics in digital markets. Knowledge and understanding The course introduces students to the new information economy and the economics of digital markets. Students are expected to gain insight into how the specific features of technology and demand affect market structure, firms’ strategies and business models, as well as public policy in digital markets. Applying knowledge and understanding By the end of the course, students should be able to use methods and models of microeconomics and industrial organization to understand and analyze the competitive dynamics in the new information economy, and specifically in digital markets. Making judgements Lectures, practical exercises and problem-solving sessions will provide students with the ability to assess the main strengths and weaknesses of theoretical models when used to explain empirical evidence and case studies in the new information economy. Communication By the end of the course, students are able to point out the main features of the new information economy and digital markets, and to discuss relevant information, ideas, problems and solutions both with a specialized and a non-specialized audience. These capabilities are tested and evaluated in the final written exam and possibly in the oral exam. Lifelong learning skills Students are expected to develop those learning skills necessary to undertake additional studies on relevant topics in the field of the new information economy with a high degree of autonomy. During the course, students are encouraged to investigate further any topics of major interest, by consulting supplementary academic publications, specialized books, and internet sites. These capabilities are tested and evaluated in the final written exam and possibly in the oral exam, where students may have to discuss and solve some new problems based on the topics and material covered in class.