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.

Upon completion of this course, students should have developed the capacity to comprehend and critically assess current theoretical and empirical research in the field of economics of innovation.

  • Couse language: The language of instruction (lectures, exercises) is English. This also applies to the teaching materials and the literature accompanying the lectures and tutorials. 
  • Prerequisites/ requirements: Basic knowledge of microeconomics.
  • Due to a change this course will be offered in the upcoming winter semester 2022/23 as well as in the summer semsester 2023. Subsequently it will only be offered in the summer semester
  • This course consists of three parts:

              (a) Introduction to Economics of Innovation 

              (b) Advanced Economics of Innovation 

              (c) Übung zu Economics of Innovation

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