themassmediaanditsimpactoneconomics.docVIP

The Mass Media and its Impact on Economics Meredith M. Price The University Of Southern MississippiAbstract Mass media is suggested to be a catalyst toward economic impact. Studies posit that media information has either a negative and positive affect, which in turn can impact individual’s attitude. Consumer behavior research supports the idea that negative media content on the certain issues can cause the economy to fluctuate. This paper explores how mass media functions and how media concepts are related to economic impact. Research in media impact on the economy of the Mississippi Gulf Coast after the Deepwater Horizon oil spill is the focus of study. Relating media and it’s impact on the economy is challenging but a necessary factor to study while in pursuit of understanding other factors in economic impact and media effects. The behavior of the economy can be impacted by how the media presents information towards the public. Introduction of mass media effects Print, radio, television, Internet, and social networks are common types of media. Media extends out to large masses of people and provides information to the public on various subjects, entertain, and to gratify people’s curiosities. As mass media has expanded and become more obtainable—cell phones, iTouch, and laptops—so have the influences on a person’s cognitive ability. It would appear that the individual has become more reliable on consulting the media. The news media is on a 24 hours and 7 days a week cycle. News is constantly streaming on the Internet through various websites and blogs. A widely accepted model of communication is the Westley-MacLean model of communication. It describes how information is gathered and disseminated to the audience (Severin and Tankard, 2001). A closer look at the Westley-Mac Lean model of communication aids in the study of how the media functions. (Figure 1). Westley-MacLean Model of Communication