Contrary to rhetoric of public service, journalism and the media have become highly commercial activities in Western democracies. Even public TV and radio can hardly escape from the developments on the market place. Based on Rational Choice Theory and an Economic Theory of Journalism, the seminar participants will explore strategies to secure and improve journalistic quality - and find out whether, how and in which markets such strategies can be successfully implemented. Another key question is how concepts of corporate governance and corporate social responsibility can be applied to media companies. The course is closely related to research activities at the European Journalism Observatory.