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Economics of Innovation


Credits : 3 ECTS

Duration : 21 hours

Semester : S7

Person(s) in charge:

Pierpaolo Parrotta, ICN and BETA,

The course will be taught in English.


Keywords :   innovation, growth, market failure, R&D financing, competition, business strategy, disruptive innovation.

Prerequisites : Foundations of microeconomics (law of demand and supply, market equilibrium, perfect competition, monopoly power).

Goal:   understand theories of innovation and the recent trends at the country/industry/firm level. 


Program and contents :

  1. Introduction, rationale and objectives 
  2. Innovation and growth 
  3. Innovation and sustainability 
  4. Innovation and competition 
  5. The geography of knowledge 
  6. Financing Innovation 
  7. Evaluation of innovation policies 
  8. Recent policy trends 



Description and operationnal verbs


Principles of economics of innovation


Asymmetric information, uncertainty and market failure; link between innovation and growth; public support to private R&D, additionality versus crowding-out; link between innovation and competition; mechanisms of knowledge transfer.  


Theory to open source data (OECD, Eurostat, WDI) and business cases.


Policy reports and business cases concerning innovation.


Main features of innovation at the country, industry and firm level.


Effectiveness of national or EU innovation policy and firm’s innovation strategies.

Évaluations :

  • Written exam
  • In-class assessment
  • Oral report
  • Project
  • Written report
  • Aucune étiquette