Economics of Innovation

Programme:	Undergraduate
Module Code:	N12612
Semester:	Autumn
Convenor:	Giuliana Battisti
Credits & Level:	10 credits; Level 2
Pre-requisites:	N11606 (Microeconomics for Business A) or N11604 (Business Economics A).
Co-requisites:	None.
Target Students:	Available to all students with the appropriate pre-requisites.
Delivery:	10 one-hour lectures plus an optional revision lecture; 2 one-hour tutorials.
Assessment:	One 1.5 hour examination. (75%); One 1500 word essay. (25%)
Summary of Content	Innovation in the History of Economic Thought; Basic Concepts in the Economics of Innovation; Intellectual Property; Economics of Networks; Standards and Dominant Designs; The Entrepreneur; Innovation, Demand and Consumption; Clusters, Innovation and the Division of Labour; Innovation, Competitiveness and Trade; Innovation, Growth and Wealth Creation; Policy for Innovation.
Aims	To help students understand the economic analysis of innovation, and why innovation is so important to companies and to the economy. Economics of Innovation develops some theoretical building blocks for the analysis of innovation, but also looks at several empirical questions about innovation.
Key Words:	Economics; Innovation; Technological Change.
Learning Objectives & Outcomes	Knowledge and understanding This module develops a knowledge and understanding of: The development and operation of markets for resources, goods and services. The development of appropriate business policies and strategies to meet stakeholder needs within a changing environment. A range of contemporary and pervasive business and management issues including (at the time of writing) business innovation, e-commerce, creativity and enterprise, knowledge management, sustainability, globalization, business ethics, values and norms. Intellectual skills This module develops: The cognitive skills of critical thinking, analysis and synthesis, including the ability to identify assumptions, evaluate statements in terms of evidence, to detect false logic or reasoning, to identify implicit values, and to define terms adequately and to generalise appropriately. The ability to create, evaluate and access a range of options, together with the capacity to apply ideas and knowledge to a range of business and other situations. Professional practical skills This module develops: The ability to apply business models to business problems and phenomena. The ability to conduct research into business and management issues, either individually or as part of a team, including a familiarity with a range of business data and research resources and appropriate methodologies. Transferable (key) skills This module develops: Effective oral and written communication skills in a range of traditional and electronic media. Effective self-management in terms of time, planning and behaviour, motivation, self-starting, individual initiative and enterprise. Learning to learn and developing an appetite for reflective, adaptive and collaborative learning.

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Economics of Innovation

Nottingham University Business School