ECONOMICS OF INNOVATION
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Technological innovation has been always considered an important driver of economic growth.
However only during the recent decades Economics of Innovation has become a single and organic discipline and has gained full recognition amongst economic scholars.
The objective of this course is to offer an introduction to the main topics of the Economics of Innovation, by providing the main concepts and tools to understand and interpret the main economic drivers and consequences of technical change.
At the end of the course the students will be able to autonomously interpret and critically discuss several topics related to the Economics of Innovation such as:
• What is innovation and how do we measure it?
• What is the link between innovation and economic growth?
• What is the relationship between patents and innovation?
• What role government and universities play in the innovation ecosystem?
• How does firm competition impact innovation?
Students will also learn how to visualize and analyze innovation data using several statistical techniques and econometric tools applied on different data sources.
Basic knowledge of mathematics, microeconomics, macroeconomics and statistics.
The course will cover the following topics organized in 10 lectures of about 4h each.
1 Introduction, basic concepts and definitions. Innovation in the history of economic thought. (4 hours)
2 Knowledge and technological innovation: characteristics, sources, measurements, and stylized facts. (4 hours)
3 Innovative firms and innovation systems: how technologies (co)evolve. (4 hours)
4 Appropriability and Intellectual Property Rights (IPRs). (4 hours)
5 Innovation, markets and firm performances. (4 hours)
6 The financing of R&D and innovation: problems and market failures.
7 Innovation diffusion and network externalities. (4 hours)
8 Open innovation and globalization. Models of economic growth. (4 hours)
Practical and PC lab sessions will take place in the following ways:
9 Laboratory: analyzing innovation data with R. (4 hours)
10 Practical sessions: working groups and students’ presentations. (4 hours)
In addition there will be 4 sessions of practical exercises (of 3 hours each) held by Dr. Daniele Crotti for a total of 12 hours.
8 Frontal Lectures in class of 4 hours each for a total of 32 hours.
1 Practical session in lab for a total of 4 hours.
1 Workshop of students' presentations in class for a total of 4 hours.
4 Exercise sessions (by Dr. Daniele Crotti) of 3 hours each for a total of 12 hours.
Written exam (the same for both attending and non-attending students): 4 questions (2 open questions and 2 exercises) to be answered/solved in 2h.
Students will have the option to participate to class presentations (in groups of maximum 3 members) organized at the end of the course that will contribute to their final grade. In case of positive evaluation, participants to the class presentations will have the option to answer only 2 (1 open question and 1 exercise) out of 4 questions/problems during the final written exam in 1h.
Partial exams will be scheduled at the end of each module.
• Greenhalgh, C., & Rogers, M. (2010). Innovation, intellectual property, and economic growth. Princeton University Press (GR).
• Dosi, G., & Nelson, R. R. (2010). Technical change and industrial dynamics as evolutionary processes. Chapter 3 in Handbook of the Economics of Innovation, 1, 51-127 (DN).
• Slides and additional readings that will be provided during the course at the end of each lecture and uploaded on the e-learning platform.
NB: The syllabus can be subject to modifications and changes during the course. Please check periodically the course page on e-learning for possible changes and communications from the instructor.
Schedule of the lectures:
Lectures: Thursday afternoon (14:00-18:00).
Exercises (Dr. Daniele Crotti): Friday morning (8:30-11:00) on the following dates: 18/10, 25/10, 6/12, 13/12.
Thursday morning: 10:30-12.30.
Department of Economics, Monte Generoso (MTG) building, first floor, room 25). Tel. 0332 39 5544
For organizational reasons, students must always send me an email in advance for scheduling a meeting (either within or outside the office hours indicated above).
For being updated on possible changes in the office hours please refer to the instructor's webpage
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