| Learning objectives |
- Explain different innovation based growth models, the
micro-foundation of the knowledge production function, and the
importance of key assumptions.
- Understand whether empirical results can be interpreted as
causal relationships.
- Understand the importance of various econometrics concepts that
are important for the interpretation of results.
- Obtain experience on working with data and run regressions
- Hands on experience with the statistical software package
STATA
|
| Course prerequisites |
| The course requires a basic knowledge of
microeconomics and applied econometrics |
| Examination |
|
Economics of
Innovation and Entrepreneurship:
|
| Exam
ECTS |
7,5 |
| Examination form |
Home assignment - written product |
| Individual or group exam |
Individual exam |
| Size of written product |
Max. 15 pages |
| Assignment type |
Project |
| Duration |
Written product to be submitted on specified date
and time. |
| Grading scale |
7-point grading scale |
| Examiner(s) |
One internal examiner |
| Exam period |
Summer |
| Make-up exam/re-exam |
Oral Exam |
|
Duration: 20 min. per student,
including examiners' discussion of grade, and informing plus
explaining the grade |
|
Preparation time: No
preparation |
|
Examiner(s): If it is an internal
examination, there will be a second internal examiner at the
re-exam. If it is an external examination, there will be an
external examiner. |
Description of the exam
procedure
Students conduct a short empirical project with data of their
choice. The project can be based on one of the papers – with
available data set – on the reading list, a paper – with available
data set – of their own choice or a project conducted on an
own-identified data set. In the project students are to show an
understanding of the applied methods, discuss the empirical choices
and interpret the results appropriartely. The project is written in
parallel with the course and is of 10 A4-pages. The project must be
submitted at the end of the teaching
term.
|
|
| Course content, structure and pedagogical
approach |
|
The aim of this course is to understand the relationship between
innovation and economic growth and the origin of innovation. The
course focuses on innovation in a broad sense as innovation is
multi-facetted concept and the course will both cover aspects of
technological innovation – product and process innovation – and
non-technological innovation, e.g., organizational innovation.
Moreover, the course will focus on the person characteristics
behind inventions. The course will be based on economics and
applied econometrics.
The course focuses on (a) the economics of new ideas and the
micro-foundations of the knowledge production function, (b)
artificial intelligence and automation, (c) organizational change
and management practices (c) the relationship between ideas and
innovation, (d) the characteristics of innovators, and (e) the
characteristics of entrepreneurs. In the course, we will work on
empirical parts of selected papers using original data and
programs.
|
| Description of the teaching methods |
| The course is composed of lectures. |
| Feedback during the teaching period |
| We aim to give constant feedback to students in
the form of Q and A in the classroom. We encourage students to ask
questions and participate in class discussion. Finally, students
can take advantage of office hours. |
| Student workload |
| Classes |
33 hours |
| Exam / preparation: |
173 hours |
|
| Expected literature |
|
Topic
|
Literature
|
|
Ideas, Innovation, and Economic Growth
|
Jones, Charles I. 2001. Chapter 4 and 5 in Introduction to
Economic Growth. New York: W. W. Norton & Company.
|
|
Competition and Innovation
|
Aghion, Philippe, Nicholas Bloom, Richard Blundell, Rachel
Griffith, and Peter Howitt. 2005. “Competition and Innovation: An
Inverted U-Relationship.” Quarterly Journal of Economics120(2): 701-728. [DATA]
|
|
AI and Automation
|
Papers presented at the Economic Policy conference on Automation
April 2019/Papers presented at the NBER Conference on the Economics
of AI, 2017 and 2018, University of Toronto
|
|
Management Practices
|
Nicholas Bloom and John van Reenen (2007), “Measuring and
Explaining Management Practices Across Firms and Countries”
Quarterly Journal of Economics [DATA]
Nicholas Bloom, James Liang, John Roberts and Zichung Jenny Ying
(2014), “Does working from home work? Evidence from a Chinese
experiment”, Quarterly Journal of Economics
[DATA]
|
|
Ideas and Innovation
|
Jones, Benjamin F. 2010. “Age and Great Invention.” Review
of Economics and Statistics92(1): 1-14.
|
|
The Characteristics of Innovators
|
Bell, Alex, Raj Chetty, Xavier Jaravel, Neviana Petkova, and
John Van Reenen. 2017. “Who Becomes an Inventor in America? The
Importance of Exposure to Innovation” The Quarterly Journal of
Economics
|
|
The Characteristics of Entrepreneurship
|
Ross Levine and Yona Rubinstein (2017), “Smart and Illicit: Who
becomes an entrepreneur and do they earn more?”, Quarterly Journal
of Economics [DATA]
|
|
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