The document discusses information economics and defines some key concepts: 1. Information economics treats information explicitly as a resource and studies how information affects economic decisions and the economy. 2. In the information era, the production, use, and communication of information has become centrally important, similar to how mass production of goods was important in the industrial era. 3. The value of information depends on its context and use, and there is a difference between personal and organizational uses of information. The cost of producing information is independent of how much it is used.

1. INFORMATION ECONOMICS Presented by Shri Ram Pandey NCSI, IISc Bangalore- 560012

5. Information economics “ Information economics treats information explicitly as a resource” Information economics is a branch of microeconomic theory that studies how information affects an economy and economic decisions.