Course Syllabus and Course Outline
Economics B493 – Political Economy and the Media
Summer 2000

Time: 11:40-1:10 M-F             Location of Class: MI 207

Instructor Information:
    Name:  Dr. Deborah Walker
    Office Telephone Number:  864-7926
    Office Hours:  M-F 1:15-2:30 and by appointment
    E-mail address:  walker@loyno.edu
    Web Page address:  www.loyno.edu/~walker

Course Information

Catalogue Description: Overview of diverse topics, which specifically deal with political economy (or public policy) from a public choice perspective as they apply to the media. Topics in public policy and public choice (which will be applied to the movie, television, radio, and print media) include public goods, methods of electing legislators, voting and elections, political parties and interest groups, deomocracy and bureaucracy, rent seeking, privatization.  This class discusses how the modern media influences public policy in the United States.

Course Prerequisites: ECON B200 and ECON B201 (Economics majors must have received a grade of C or better in these classes); junior standing

Required Readings:  Class Handouts

Course Learning Objectives:
Students completing this course successfully will be able to:

· explain the concept of public choice economics;
· explain the theory of public goods;
· explain the public choice theories of democratic government;
· explain the issues surrounding voting decisions;
· explain the economics of pressure or interest groups;
· explain rent seeking;
· explain the theories behind privatization;
· explain how the modern media plays a role in the process of public policy from a public choice perspective.

Course Policies

Grading Policy: Your grade will be determined as follows:

35% (105 pts.) -- midterm (essay)
20% (60 pts.) -- class participation and attendance
10% (30 pts.) -- two class discussions (one of a print medium and one of a TV show) (5% each)
20%  (60 pts.) -- two written assignments (one of a print medium and one of a movie) (10% each)
15%  (45 pts.) -- class discussion of movie assignment
___________________________________________
Total Possible Points for the Class = 300

I reserve the right to add quizes during the semester if I find that students are not doing the assigned reading material.

There will be NO make-up exams. NOTE: once an exam has been handed out in class, you are not allowed to leave the classroom for any reason!!

Class Assignments:
 

Television Media Assignment:

Choose a television show (other than a political program) which you believe demonstrates one or both of the following:
    (1) Good or bad economic analysis
    (2) Public choice analysis (i.e., this may include that you think the show is trying to influence the audience towards a particular public policy agenda or that the show demonstrates an example of special interest group theory, etc.).

You will then present a short (5-10 minute) discussion of your analysis of the show to the class on Friday, June 16.  Analyze the show with respect to the following:

 (1)  What public policy is the show trying to promote?
 (2)  What interest groups is the show trying to reach?
 (3)  Do you think the show uses sound economic analysis?
         Why or why not?  Explain this fully.
 (4)  Do you think the show is pursuasive with respect to
         the average voter?  Why or why not?  (Use public
         choice theory here).

Print Media Assignment:

Each student will randomly (out of a hat) choose a newspaper and a magazine the first week of class from the following:

Magazines:
    Forbes
    Newsweek
    U.S. News and World Report
    The Economist
    Time
    Fortune
    Business Week

Newspapers (these are the top seven by circulation):
    The Wall Street Journal
    USA Today
    New York Times
    Los Angeles Times
    Washington Post
    New York Daily News
    Chicago Tribune

THESE CHOICES SHOULD REMAIN A SECRET UNTIL THE END OF THE SUMMER SESSION.  DO NOT REVEAL YOUR PUBLICATIONS TO ANYONE.  AT THE END OF THE SESSION WE WILL GUESS WHICH PUBLICATIONS EACH STUDENT READ.
Part A of Assignment:  During the fourth week of class (Thursday will be magazines and Friday will be newspapers) each student must discuss (5-10 minutes) an article from the magazine (Thursday) and the newspaper (Friday) which pertains to public policy.  Particularly, the student should discuss the political "slant" of the publication and how the publication is trying to persuade public opinion.  The student should choose the most recent edition of the publication if possible (or a very recent issue).  With respect to newspapers, the student should choose an article from the last two weeks.  Do not choose an "editorial" -- choose an article inside the magazine and newspaper.

Part B of Assignment:  On the day when each student discusses his or her magazine article (Thursday) OR when each student discusses his or her newspaper article (Friday) the student must turn in a 2-3 page (typed, double-spaced) analysis of the article he or she chooses to do the written analysis for.  This analysis should include:
    (1)  What public policy is the article trying to promote?
    (2)  What interest groups is the author trying to reach?
    (3)  Do you think the article uses sound economic analysis?
         Why or why not?  Explain this fully.
    (4)  Do you think the article is pursuasive with respect to
         the average voter?  Why or why not?  (Use public
         choice theory here).

Movie Media Assignment:

Sometime during the summer session you should choose a movie which you believe demonstrates one or both of the following:
    (1) Good or bad economic analysis
    (2) Public choice analysis (i.e., this may include that you think the movie was trying to influence the audience towards a particular public policy agenda or that the movie demonstrated an example of special interest group theory, etc.).

The last two days of class will be set aside so that each student can present his or her analysis of the movie.  It might be a good idea to have a copy of the movie and play certain parts for the class if you think that will help with your presentation (I will reserve a TV and VCR for those two days).  But keep your presentation to no longer than about 20 minutes.

You will then have to turn in a written analysis of the movie (all are due on the last day of class) similar to the one done for the magazine or newspaper article.  Therefore, it should include:

 (1)  What public policy is the article trying to promote?
 (2)  What interest groups is the author trying to reach?
 (3)  Do you think the article uses sound economic analysis?
         Why or why not?  Explain this fully.
 (4)  Do you think the article is pursuasive with respect to
         the average voter?  Why or why not?  (Use public
         choice theory here).

The following two movies cannot be chosen:  Wall Street and Pretty Woman (I am going to use these in class myself and this list might grow during the next couple of weeks). Please let me know your movie choice as soon as you make it -- I will not allow duplications -- so if someone else has already chosen your movie, you will have to chose another.

Attendance Policy: I will take attendance.  You will have one "free" absence.  Each absence after that will cost you 10 points.  Coming into class late will also count against you.  I will give you two "free" late passes.  Each time you enter the class late (defined as "after the professsor starts the class") after your two free passes have been used, you will lose 5 points. Leaving (and returning) in the middle of the class will also be considered rude and disruptive and might cost you points (at my discretion). If you must leave early for some reason let me know at the beginning of class.

Academic Integrity Statement: If I believe an exam (or an assignment) has been compromised, I reserve the right to retest the whole class or any individual in the class. Violations of the University’s academic code include, but are not limited to: possession of, or use of, unauthorized materials during exams and providing information to another student. Violations may result in academic penalties, including receiving an "F: in this course.

Tentative Course Outline – Political Economy and the Media
(Summer 2000)

Date                   Topic

WEEK ONE

5/30        Introduction to the Class and to Public Policy/Public Choice

5/31        Public Choice:  Background

6/1          Market or Government?

6/2          Public Goods and So-called Market Failure

WEEK TWO

6/5          Politicians

6/6          Voting and Elections

6/7          Political Parties and Interest Groups

6/8          Democracy and Bureaucracy

6/9          Rent Seeking and Privatization

WEEK THREE

6/12        Midterm Exam (Bring Bluebook)

6/13        Radio and Public Policy

6/14        Television and Public Policy

6/15        Television and Public Policy cont.

6/16        Television Assignment Discussions (5-10 minutes in length)

WEEK FOUR

6/19       Print Media and Public Policy

6/20       Print Media and Public Policy cont.

6/21       Print Media and Public Policy cont.

6/22       Assignment Due (Dicussion and analysis of magazine
             article)

6/23       Assignment Due (Discussion and analysis of newspaper
              article)

WEEK FIVE

6/26    Movies and Public Policy

6/27    Movies and Public Policy cont.

6/28    Wrap Up of Class -- anything goes

6/29    Movie Assignment Discussions

6/30    Movie Assignment Discussions (Movie analysis also due)