20451 - FUNDAMENTALS OF INNOVATION AND INDUSTRIAL CHANGE

The course aims to provide the tools for understanding and analyzing innovation and industrial change. Topics to be discussed include the relationship among innovation, eco­nomic growth and economic development, the economics of patents and intellectual pro­perty rights, the role of innovation in the dynamics and evolution of industries, the rela­tionships between science and technology, the emergence of new innovative countries in the global market and innovation by multinational companies. The last part of the course discusses the role of public policies with respect to innovation and industrial change.
Some introductory notions in basic microeconomics and industrial organization are required.
The class format is a mix of lectures and discussions. Students are expected to partici­pate actively in the discussions, reading the assigned material for each topic before class.
Seminars and student presentations on specific issues and technologies are organ­ized during the course.

• Introduction to innovation and industrial change
• Market structure and innovation
• Evolutionary theory of innovation and industrial change
• The firm: learning, competence and innovation
• Innovation in sectors
• Innovation and industrial dynamics
• Models of innovation and industry evolution
• Demand and innovation
• Public policy for innovation and technology diffusion
• Measuring innovation
• Patents and innovation
• The decision to patent
• The diffusion of innovation
• Innovation and industrial clusters
• Globalization of innovation

The exam consists of a written final exam and a paper.

The final mark is based on both final exam and the paper.

A list of readings is made available at the beginning of the course.