MWiWi 2.6: Economics of Innovation
It is widely accepted that innovation is an essential component of strategy for knowledge-based firms and that it is one of the main drivers of economic growth in industrial countries. Hence, a better understanding of the antecedents and consequences of innovation in the public and the private sector is needed to develop sound innovation policy measures and to derive implications for business strategies.
The course “Economics of Innovation” is based on two lectures. The aim of the first lecture “Introduction to Economics of Innovation” is to introduce students to the economic analysis of innovation processes. It deals with market failures in the innovation process, innovation incentives of firms in different markets, the effects of innovations on market structure, and intellectual property. The second lecture “Advanced Economics of Innovation” focuses on analyzing specific aspects of the innovation processes.
After completing this course, students are expected to be able to understand and evaluate research in the field of economics of innovation and to critically assess current innovation policy.
- Language: The language of instruction (lectures, tutorials) is English. This also applies to the teaching materials, textbooks and scientific articles used.
- Prerequisites: Basic knowledge of microeconomics.
- This course is only offered in the summer semester.
- This course consists of three parts:
(a) Introduction to Economics of Innovation (2 SWS)
(b) Advanced Economics of Innovation (2 SWS)
(c) Tutorials on Economics of Innovation (2 SWS)