Grades 3-5
Grade 9-12
,
On-Demand Webinar
The Economics of the Music Industry
Time: 60 mins,
Presenter: Susanna McConnell
Objective
Teachers will be able to:
- Learn how technology has impacted the music sector.
- Incorporate EdTech to show how market forces have changed the industry in the past and will continue to in the future.
Standards
Concepts
This video is available to view for EconEdLink members only.
In this economics webinar, focus on old industry models, how technology impacts musicians and how the market will continue changing.
Description
The music industry has vastly changed, especially with advancing technology over the past decade. With the growth of technology and online streaming services, musicians and fans have changed their behavior due to different incentives and other market forces.
Dive into the economics behind the recording industry and how a shift to an experience-based economy has morphed who the key actors are. We will also highlight the challenges faced by the industry amidst the global pandemic.
Resources
Related Resources
In this elementary economics and science lesson, students learn how productive resources are combined to create electricity.
Key Concepts: Consumers, Human Capital, Productive Resources
Grades 3-5
Teach Producers and Consumers using Sloth and Squirrel in a Pickle
This economics and personal finance lesson takes students through the process of producing a good to sell to a fictional...
Key Concepts: Consumers, Income, Producers
60 mins
Lesson
Grades 9-12
Should Private Companies Operate Prisons?
Students analyze and rank the four general goals of corrections to help them determine their personal beliefs about what prisons...
Key Concepts: Incentives, Opportunity Cost, Profit…
60 mins
Lesson
Grades 9-12
Can You Be Fashionable and Ethical?
Students “produce” blue jeans and make business choices about production to simulate the decision of changing from more expensive, but...
Key Concepts: Costs of Production, Decision Making/Cost-Benefit Analysis, Externalities…
60 mins
Lesson