James J. Jozefowicz

A blueprint for success in the US film industry

This article analyses motion picture box-office gross revenue using a cross-section of films from 1997 to 2001. The dependent variable is total domestic box-office revenue. The independent variables investigated include: production budget; peak number of screens that the film was shown on in theaters; Consumer price index for movie tickets; personal income; season and year of the release in theaters; a measure of pre-existing audience; aggregate critic rating; MPAA rating; genre; word-of-mouth recommendation; the presence of popular stars and the award nominations. A distinction is made in the analysis between information available to the public prior to the release of the film in theaters (ex ante) and information available to the public after the film opens in theaters (ex post). Results for the ex ante ordinary least squares (OLS) regression reveal positive impacts of budget, summer and holiday release dates, critical reviews, sequels and several genres on gross revenue. Significant, positive determinants in the ex post OLS regressions include budget, the peak number of screens, sequels, critical reviews, summer and holiday releases, word-of-mouth, award nominations and star power.

Making Economic Principles Personal: Student Journals and Reflection Papers

Abstract: The authors address two informal writing assignments implemented in introductory economics classes. One assignment involves students writing short reflection papers, and the other assignment involves students writing short journal entries for a designated period of time. Both assignments are designed to help students realize that economics is directly pertinent to their daily lives. Pedagogical issues related to both the benefits to students and the benefits and costs to faculty who implement the assignments are discussed. These assignments can provide beneficial insights to newer faculty members, who are adjusting to university and local community life, and contribute to developing new course material of perceived relevance to students.