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Business development and Innovation: The policy perspective (MSB335)

What should firms consider when making decisions on investments in innovation? And what is the role of the government and the effects of various policies and instruments on private firms' innovation processes? In this course, students will learn about business development and innovation strategies from a policy perspective. The course aims to introduce students to how national, regional, and local governments can promote innovation and business development in the economy as well as within companies. The theory, analytical tools and answers to these and other questions will be presented throughout this course and will give you a solid qualification for any future career involving investment decisions in innovative firms provide advise for policy makers.

Course description for study year 2022-2023. Please note that changes may occur.

Course code




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Semester tution start


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Business development and Innovation: The policy perspective delves into:

  • Market failure, Monopoly power and IPR
  • Research and innovation policy
  • Local and regional development policy
  • Place-based economic policy, leadership, and regulations
  • Innovative start-ups and policy initiatives
  • Specific policies, e.g. smart specialization, mission oriented, transformative, sustainable, and resource-based policies.

These topics will be delivered through a combination of classes and seminars. Each student will be assigned to a group. These groups will play different roles during the seminars during the semester. Each student must equally contribute to these roles. The roles include:

  • Prepare and share written questions and statements about the policies in different roles
  • Respond to questions during the seminar and engage actively in it
  • Organize and contribute to discussions

Learning outcome


Upon completion of the course, students should:

  • Have knowledge of the economics of different stages of innovation processes from basic research to commercialization.
  • Know how strategies and policies are embedded into national, regional, and local economic development and innovation thinking.
  • Be able to apply innovation strategies and policies to restructure local businesses toward sustainable development.
  • Have knowledge of policies such as: smart specialization, mission oriented, transformative, sustainable, and resource-based policies


Upon completion of the course, students should be capable of:

  • Formulating policy statements and arguments to initialise a discussion
  • Formulating and summarising policy statements to initialise a discussion
  • Providing 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.

Required prerequisite knowledge
Form of assessment Weight Duration Marks Aid
Take-home assesement 1/1 1 Semesters Letter grades

Coursework requirements
Presence in all seminars in which the student is assigned to play an active role.
Course teacher(s)
Course coordinator: Nina Hjertvikrem
Course teacher: Nina Hjertvikrem
Study Program Director: Yuko Onozaka
Open for
Master in Accounting and Auditing Business Administration - Master of Science Business Administration - Master of Science (5 years)
Course assessment
Students will have the opportunity to give feedback on the course first in an early dialogue, and then in a written course evaluation at the end of the course.
The syllabus can be found in Leganto