Upon completion of the course, students will have acquired:
- A relevant set of theories and empirical methods for analyzing the economics of innovation.
- Knowledge of the economics of different stages of innovation processes from basic research to commercialization.
- Analytical tools necessary to understand firms' considerations and trade-offs in innovation investment decisions, including responsible innovation issues.
- A knowledge of relationships between characteristics of sectors and products (e.g. firm concentration, value chain organization, product differentiation, appropriability) and innovation incentives and behavior.
- Knowledge of the role of innovation and policies in sustainable development, including global climate and environmental challenges.
Upon completion of the course, students will be able to:
- Undertake an analysis of innovation processes as risky investment projects.
- Analyze the relationships between market structure characteristics and innovation.
- Analyze relationships between firms' economic performance in terms of productivity and profitability and innovation using econometric techniques on real data.
- Provide economic and financial advice to the management of a firm's innovation processes.
- Provide advice to policy makers and the public sector in design of regulations and instruments which can influence R&D, innovation and productivity of firms, whether they were intended to do so or were designed primarily for other purposes.
- Economic theories of the firm and innovation.
- Economic analysis of different stages of innovation processes.
- Market failures and government policy interventions in knowledge production and innovation processes, particularly with respect to sustainable development and environmental challenges.
- Market characteristics and firms' incentives to invest in R&D and innovate.
- Econometric analysis of R&D, innovation and firm behaviour and performance.
Required prerequisite knowledge
Recommended previous knowledge
|Written exam||1/1||4 hours||A - F||None permitted|
Method of work
Estimated student workload in hours:
1. Lecture 26
2. Seminar/exercise 26
3. Specific supervision 40
4. Student's self studies 120
5. Written assignment 60
Sist oppdatert: 05.04.2020