This focuses on teaching man about God rather than praising God.
Asaph- I Chron. 6:39; 15:17 -19; 16:5; 25:1; II Chron. 29:30

50:1-6 The LORD God summons HIs covenant people to court

50:7-15 What is the true meaning of sacrifice?
Sacrifice does not provide God with something that He needs. God owns and possesses all and would not ask our permission if He needed anything.
Sacrifice itself is not rejected. Notice the mentions of sacrifice in 50:5, 8, 14-15, 23.
We are dependent upon God, and He is not dependent upon us.

50:16-23 Warning to the violators of the covenant
50:18 They rejoice in thieves and adulterers- Rom. 1:32
50:21 God kept silent, and they interpreted this as the fact that He was indifferent to immorality- Rom. 2:1-4

What does Psalm 50 teach us about God?
50:1, 4, 10-12 God is sovereign over everything
50:4, 6 He is judge of all
50:9-12 We are dependent upon God and He is not dependent upon us- Acts 17:24-28
50:18-21 God is not indifferent to immorality
50:15 He will rescue those who call to Him and in 50:22 tear in pieces those who forget Him.

How does Psalm 50 teach us about Jesus?
50:9-12 Man could not offer a sacrifice great enough to make atonement, and God offers the offering to bring  us into a right relationship with Him.
50:18 Men prefer thieves and adulterers. They even asked for a robber to be given to them instead of Jesus- John 18:40- but God provides the sacrifice to make us right with Him.