Two models for illustrating the economics of media bias in introductory economics

Media bias is an important and underexplored feature of the economics of information. In this paper, I outline two models that can be used to illustrate media bias in an introductory economics course. The models rely on relatively simple and intuitive underlying assumptions, and draw on related empirical research. They do not require extensive mathematical derivations, although the models can easily be extended for more mathematically-inclined students. The models are useful in linking economic theory and empirical research, in a context that undergraduate students can relate to and often have direct experience of. The models can also be used to motivate a range of discussions on media and competition policy.