Electronic publishing and the Internet are changing the discipline of the journals managed by traditional publishers. Under their budget constraint, scholars and librarians are struggling for the choice of new medium for obtaining needed information goods and services, traditional publishers are developing operation schemes for electronic access to their intellectual assets, and governments are searching for optimal subsidy policies for acquisition of electronic resources. This study applies traditional economic approaches to scholarly electronic journal publishing. There are four basic economic issues that this study will address: scholars and libraries’ demand for sources of scholarly articles, the production and distribution of scholarly journal, scholar electronic journal pricing strategies, and the externalities of shared information goods and services. Part 1 of this three-part article discusses the market economics of scholarly electronic journal publishing business work. It also describes choices among scholars, librarians, and publishers. It provides background for some of economic issues, as well as observations on the impact of new mediums on library resource acquisitions. Part 2 introduces the scholarly electronic journal publishing’s market structure, pricing strategies, and barriers to entry in the publishing industry. Part 3 reviews the existing government subsidy policy for scholarly information goods and services based on network delivery, with a view to considering the prominent implication for versioning and bundling, and how to gather the buyers’ power to lead the market by forming the regional and national consortia (people network of librarians).