ECONOMICS OF SCIENCE, TECHNOLOGY AND INNOVATION

ECON373

Course Code: ECON373
Semester: -
Theory+Practice: 3 + 0
ECTS: 5

Course Type

Elective Course

Course Level

Bachelor's Degree

Year of Study

Semester

ECTS

Name of Lecturer(s)

Learning Outcomes

At the end of this course, the students;

Should have developed an insight into the Economics of Science, Technology and Innovation.

Mode of Delivery

Face to face

Prerequisites

Recommended Optional Programme Components

None

Course Description

Course Contents

WEEK	TOPICS
1^st Week	Introduction. Why should economists and managers study science, technology and innovation?
2^nd Week	The historical perspective. What makes societies successful innovators?
3^rd Week	Innovation and economic growth
4^th Week	The macroeconomic perspective. Science and Technology as factors of growth. Macroeconomic implications of the Diffusion of Innovations.
5^th Week	The microeconomic perspective. Are innovative goods any different?
6^th Week	The 21st Century perspective. Is `The New Economy, New?
7^th Week	Midterm
8^th Week	Market structure and innovation, Diffusion of innovations
9^th Week	Strategic management of innovations
10^th Week	Labor market effects of innovations
11^th Week	The market and regional perspectives.
12^th Week	The firms' experience and perspective. Which R&D and Innovation strategies should firms follow?
13^th Week	The political economy and public policy perspective
14^th Week	Alternative Innovation strategies. Conclusions

Recommended or Required Reading

Acemoglu, D. "Technical Change, Inequality, and the Labor Market." Journal of Economic Literature, 2002, 40(1), pp. 7-72.

Acemoglu, D. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality." Quarterly Journal of Economics, 1998, 113(4), pp. 1055-89.

Acs, Z. J. and Audretsch, D. B. "Innovation in Large and Small Firms - an EmpiricalAnalysis." American Economic Review, 1988, 78(4), pp. 678-90.

Aghion, P. and Howitt, P. "A Model of Growth through Creative Destruction." Econometrica, 1992, 60(2), pp. 323-51.

Aghion, P. and Tirole, J. "The Management of Innovation." Quarterly Journal of Economics, 1994, 109(4), pp. 1185-209.

Aghion, P.; Bloom, N.; Blundell, R.; Griffith, R. and Howitt, P. "Competition and Innovation: An Inverted U-relationship." Quarterly Journal of Economics, 2005, 120(2), pp. 701-728.

Alexopoulos, M. "Read All about It!!! What Happens Following a Technology Shock?" American Economic Review, 2011, 101(June), pp. 1144-1179.

An introductory book that collects many case studies is Burgelman, Robert A. and Modesto A. Maidique. 1996. Strategic Management of Technology and Innovation, 2nd ed.

Arrow, K. "Economic welfare and the allocation of resources for invention." In R. Nelson (Ed): The Rate and Direction of Inventive Activity, 1962, Princeton University Press, Princeton.

Arrow, Kenneth J. 1962. "Economic Welfare and the Allocation of Resources for Invention," in R.R. Nelson ed. The Rate and Direction of Inventive Activity: Economic and Social Factors. Princeton, NJ: Princeton University Press

Arthur, B. "Competing Technologies, Increasing Returns, and Lock-In by Historical Events." Economic Journal, 1989, 99(394), pp. 116-131.

Ashraf, Q. and Galor, O. "Dynamics and Stagnation in the Malthusian Epoch." American Economic Review, 2011, 101(August), pp. 2003-2041

Audretsch, D. B. and Feldman, M. P. "R&D Spillovers and the Geography of Innovation and Production." American Economic Review, 1996, 86(3), pp. 630-40.

Autor, D. H.; Katz, L. F. and Krueger, A. B. "Computing Inequality: Have Computers Changed the Labor Market?" Quarterly Journal of Economics, 1998, 113(4), pp. 1169-213.

Baumol, W. The Free Market Innovation Machine - Analyzing the Growth Miracle of Capitalism, 2002, Princeton University Press, ch. 1.

Berman, E.; Bound, J. and Machin, S. "Implications of Skill-Biased Technological Change: International Evidence." Quarterly Journal of Economics, 1998, 113(4), pp. 1245-79.

Besen, S. M. and Farrell, J. "Choosing How to Compete - Strategies and Tactics in Standardization." Journal of Economic Perspectives, 1994, 8(2), pp. 117-31.

Black, S. and Spitz-Oener, A. "Explaining Women's Success: Technological Change and the Skill Content of Women's Work." Review of Economics and Statistics, 2010, 92(1), pp. 187-194.

Bound, J. and Johnson, G. "Changes in the Structure of Wages in the 1980s - an Evaluation of Alternative Explanations." American Economic Review, 1992, 82(3), pp. 371-92.

Planned Learning Activities and Teaching Methods

Lecture
Discussion

Assessment Methods and Criteria

	Quantity	Percentage (%)
Mid-term	1	40
Quiz	1	20
Total(%)		60
Contribution of In-term Studies to Overall Grade(%)		60
Contribution of Final Examination to Overall Grade(%)		40
Total(%)		100

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Midterm exam
Preparation for Quiz
Individual or group work
Preparation for Final exam
Course hours
Preparation for Midterm exam
Laboratory (including preparation)
Final exam
Homework
Total Work Load			0
Total Work Load / 30 (h)			0
ECTS Credit of the Course			5

Language of Instruction

Turkish

Work Placement(s)

Programme Qualifications / Learning Outcomes

	LO1
K1
K2	X
K3
K4
K5	X
K6
K7
K8
K9
K10
K11
K12	X
K13	X
K14
K15