IntroductionDiscussions have taken place among scholars in developed countries regarding information economics. Developed countries include Australia, New Zealand, the United States, Ireland, Germany, Japan, Canada and many other countries that have a high level of development by certain criteria. The criterion is per capita income; countries with a high gross domestic product (GDP) per capita would thus be described as developed countries. Another economic criterion is industrialization; countries in which the tertiary and quaternary industrial sectors dominate would thus be described as developed. More recently, another measure, the Human Development Index (HDI), which combines an economic measure, national income, with other measures, indices of life expectancy and education, has become important. This criterion would define developed countries as those with a very high (HDI) score. Birchler and Butler (2007) stated that there are many reasons to know information economics in depth, namely, information is an interesting economic good, economics is about information, information is of strategic importance and information economics is a young field with practical relevance in many contexts. According to Sloman (2003), many people think that economics is about money. Well, to a certain extent it is true. The economy has a lot to do with money: how much money people get paid; how much they spend; what are the costs of purchasing various items; how much money companies make; how much money there is in total in the economy. But despite the vast number of areas in which our lives are tied to money, economics is much more than just the study of money. It is interested in the production of goods and services and ...... middle of paper ...... management research in the information economy. Retrieved March 11, 2011 from: http://www.Kingma, BR (2001). The Economics of Information: A Guide to Economic and Cost-Benefit Analysis for Information Professionals (2nd ed.). United States of America: Libraries Unlimited. Mandeville, T. (1998). An information economics perspective on innovation. International Journal of Social Economy, 25 (2), 357-364. Retrieved March 11, 2011 from: http://www.Ponelis, SR and Britz, JJ (2004). Teaching information economics to undergraduate information science students at the University of Pretoria. South African Journal of Information Management, 6 (4), accessed March 11, 2011 at: http://www.Sloman, J. (2003). Economics (5th ed.). England: Prentice Hall. Webster, F. (2002). Theories of the information society (2nd ed.). London: Routledge.