No that is not correct
EC50 is the effective dose of AGONIST that half maximally
activates the channel/enzyme. You establish an EC50 by applying increasing amounts of AGONIST to your system and you measure the responses for each dose until you reach saturation - ie the point at which increasing the concentration of agonist dose not increase the magnitude of the response. If you normalize all your responses to the maximum and plot them against AGONIST concentration (plot the concentration on Log scale) you will create a dose-response plot, from which you can determine the dose that gives 50% activation -
the EC50Click here for an example of EC50 calculation
Agonist-responseIC50 is the dose of ANTAGONIST that half maximally inhibits the channel -
example - if you establish a dose of AGONIST which gives you maximum activated response and then you coapply a dose of ANTAGONIST with that dose of AGONIST which previously gave the maximum activated response when applied alone and you now see only half the maximum activated response, the dose of ANTAGONIST that you applied is the IC50 dose.
Click here for an example of IC50 calculation
innhibitor-response curve