ECONOMICS OF INNOVATION

Degree course: 
Corso di Second cycle degree in GLOBAL ENTREPRENEURSHIP ECONOMICS AND MANAGEMENT
Academic year when starting the degree: 
2021/2022
Year: 
1
Academic year in which the course will be held: 
2021/2022
Course type: 
Compulsory subjects, characteristic of the class
Seat of the course: 
Varese - Università degli Studi dell'Insubria
Language: 
English
Credits: 
6
Period: 
First Semester
Standard lectures hours: 
50
Detail of lecture’s hours: 
Lesson (40 hours), Exercise (10 hours)
Requirements: 

Suggested pre-requisites:
Basic knowledge of mathematics, microeconomics and statistics.

Final Examination: 
Orale

Depending on the COVID-19 pandemic restrictions and on the number of students registered, the exam will be held in the form of a written exam in class or in the form of a Moodle Quiz (that will be created on the e-learning webpage of the course) and will consist of 2 “exercises” (composed of a series of numerical and multiple-choice questions), and 2 “open questions” to be answered in 2 hours.
The aim of this written exam is to assess the knowledge acquired by the students concerning all the topics covered during the lectures. The answers to the questions and the exercises will be evaluated based on their completeness and correctness.
The answers to the questions and exercises will be evaluated based on their completeness and correctness.
Students will have the option to participate to a workshop of students’ presentations (in groups of maximum 3 members) organized at the end of the course that will contribute to their final grade.
In case of positive evaluation (>18/30), students presenting in the workshop will have the option to answer only 2 (1 open question and 1 exercise) out of 4 questions/problems during the final written exam (in 1h). In this case, the written exam will contribute for ½ of the final mark of the module and the workshop presentations will contribute for the other ½ part.
No partial exams will be scheduled at the end of each module.
To pass the exam, it is necessary to achieve a score of at least 18 points over 30. If the student gets the maximum score (30 over 30 points) he/she will be awarded a final score of 30 over 30 cum laude.

Assessment: 
Voto Finale

Technological innovation has been always considered an important driver of economic growth.
The objective of this course is to offer an introduction to the main topics of the Economics of Innovation, by providing the main concepts and tools to understand and interpret the main economic drivers and consequences of technical change.

At the end of the course the students will be able to:
1. autonomously interpret and critically discuss several topics related to the Economics of Innovation such as:
• What is innovation and how do we measure it?
• What is the link between innovation and economic growth?
• What is the relationship between patents and innovation?
• What role governments and universities play in the innovation ecosystem?
• How does firm competition impact on innovation?
2. to visualize and analyze innovation data using several statistical techniques and econometric tools applied on different data sources.
3. to review the literature, collect data and produce descriptive empirical analysis to shed light on some specific issues;
4. to develop and strengthen skills in preparing public oral presentations and to sharpen their critical thinking.

The course will cover the following topics organized in 10 lectures of about 4h each.

MODULE I
1 Introduction, basic concepts and definitions. Innovation in the history of economic thought. (4 hours)
2 Knowledge and technological innovation: characteristics, sources, measurements, and stylized facts. (4 hours)
3 Innovation, markets, and firms' performance. (4 hours)
4 Appropriability and Intellectual Property Rights (IPRs). (4 hours)
5 Innovative firms and innovation systems: how technologies (co)evolve. (4 hours)

MODULE II
6 The financing of R&D and innovation: problems and market failures.
7 Innovation diffusion and network externalities. (4 hours)
8 Open innovation and globalization. Models of economic growth. (4 hours)

Practical and PC lab sessions will take place in the following ways:

9 PC Lab: analyzing innovation data with R. (4 hours)
10 Workshop: students’ (group) presentations. (4 hours)

In addition there will be 10 hours of practical exercises held by Dr. Stefano Basilico (stefano.basilico@uninsubria.it) in the following days/hours:
-21/10/2021: 14.30-17.30;
-22/10/2021: 10.30-12.30;
-23/11/2021: 10.30-12.30 and 13.30-16.30.

.

• Greenhalgh, C., & Rogers, M. (2010). Innovation, intellectual property, and economic growth. Princeton University Press (GR).
• Dosi, G., & Nelson, R. R. (2010). Technical change and industrial dynamics as evolutionary processes. Chapter 3 in Handbook of the Economics of Innovation, 1, 51-127 (DN).
• Slides and additional readings that will be provided during the course at the end of each lecture and uploaded on the e-learning platform.

Convenzionale

8 Frontal lectures in class of 4 hours each for a total of 32 hours.
1 Practical session for a total of 4 hours: students will be introduced to the basic tools of the statistical software R and guided in a data visualization and analysis session on innovation data.
1 Workshop of students' presentations in groups for a total of 4 hours: the aim of this workshop is to stimulate students to autonomously review the literature and collect data on specific topics, in order to produce descriptive empirical analysis; to shed light on some specific issues; to develop and strengthen skills in preparing and presenting public oral presentations and to sharpen student skills in critical thinking.
4 Exercise sessions of 2.5 hours each for a total of 10 hours: the aim of this session is to provide a “refresh” on some basic topics of microeconomics. They will consist in guided readings and practical exercises on the topics covered during the lectures, followed by take home exercises to be solved autonomously by the students in order to self-assess their advancements.

The syllabus can be subject to modifications and changes during the course. Please check periodically the course page on e-learning for possible changes and communications from the instructor.

Wednesday afternoon (14:30-18:30).

Office hours: Wednesday afternoon after lectures (18:30-19:30).

For organizational reasons, students interested in scheduling a meeting with the instructor (either within or outside the office hours indicated above) are invited to contact the instructor in advance via email.

Professors

BASILICO STEFANO