ECONOMICS OF INNOVATION, GROWTH THEORY AND ECONOMICS DEVELOPMENT-1
- Academic year
- 2023/2024 Syllabus of previous years
- Official course title
- ECONOMICS OF INNOVATION, GROWTH THEORY AND ECONOMICS DEVELOPMENT-1
- Course code
- ET7017 (AF:358382 AR:191370)
- Modality
- On campus classes
- ECTS credits
- 6 out of 12 of ECONOMICS OF INNOVATION, GROWTH THEORY AND ECONOMICS DEVELOPMENT
- Degree level
- Bachelor's Degree Programme
- Educational sector code
- SECS-P/06
- Period
- 1st Term
- Course year
- 3
- Where
- RONCADE
- In cooperation with
- Moodle
- Go to Moodle page
Contribution of the course to the overall degree programme goals
Expected learning outcomes
o Understand the concept of economic growth and the determinants of long-run economic growth;
o Critically evaluate the various theoretical frameworks explaining innovation and their relevance to economic growth;
o Understand the role of evolutionary economics and complexity economics in explaining the process of innovation and economic growth;
o Develop an understanding of the methodological issues involved in studying growth and innovation.
Pre-requirements
Contents
Introduction to Growth Theory: Solow Growth Model and extensions
Endogenous Growth Models and Schumpeterian Theory of Innovation
Theory of the firm: innovation strategies, R&D investment, market competition, patents
Technological Paradigms and Trajectories
Macroeconomics changes following recent disruptions
International trade and complexity
Referral texts
"The Economy: Economics for a Changing World". CORE Economics Education 2022
which is freely available online at this address: https://www.core-econ.org/
Then, class-specific papers will be thoroughly explained and analyzed and the list includes the following publications (all accessible using the university credentials):
Amador, J., & Cabral, S. (2016). Global value chains: A survey of drivers and measures. Journal of Economic Surveys, 30(2), 278-301.
Antràs, P. (2020). De-globalisation? Global value chains in the post-COVID-19 age. National Bureau of Economic Research (w28115).
Audretsch, D. B. (2015). Joseph Schumpeter and John Kenneth Galbraith: two sides of the same coin?. Journal of Evolutionary Economics, 25, 197-214.
Balland, P. A., Broekel, T., Diodato, D., Giuliani, E., Hausmann, R., O'Clery, N., & Rigby, D. (2022). Reprint of “The new paradigm of economic complexity”. Research Policy, 51(8), 104568.
Dosi, G., & Nelson, R. R. (2010). Technical change and industrial dynamics as evolutionary processes. Handbook of the Economics of Innovation, 1, 51-127.
Fagerberg, J. (2007). A guide to Schumpeter. Confluence: Interdisciplinary Communications, 2008, 20-22.
Hausman, D. M. (1989). Economic methodology in a nutshell. Journal of Economic Perspectives, 3(2), 115-127.
Hidalgo, C. A. (2021). Economic complexity theory and applications. Nature Reviews Physics, 3(2), 92-113.
Hidalgo, C. A., & Hausmann, R. (2009). The building blocks of economic complexity. Proceedings of the national academy of sciences, 106(26), 10570-10575.
Keynes, J. M. (1936). The General Theory of Employment, Interest and Money. London: Macmillan.
Lakner, C., & Milanovic, B. (2015). Global income distribution from the fall of the Berlin Wall to the great recession. Revista de Economía Institucional, 17(32), 71-128.
Nuvolari, A., & Ricci, M. (2013). Economic Growth in England 1250-1850: Some New Estimates Using a Demand Side Approach. Rivista di storia economica, 29(1), 31-54.
Piketty, T., & Saez, E. (2014). Inequality in the long run. Science, 344(6186), 838-843.
Romer, P. M. (1986). Increasing Returns and Long-Run Growth. Journal of Political Economy, 94(5), 1002-1037.
Solow, R. M. (1956). A Contribution to the Theory of Economic Growth. Quarterly Journal of Economics, 70(1), 65-94.
Assessment methods
Teaching methods
Further information
As part of the course, meetings with companies’ testimonials involved in the project may be offered, focusing on the development of practical knowledge in the subject matter, as well as the results of the project itself.
This course covers topics related to Spoke 7 Territorial sustainability - WP3.
Type of exam
2030 Agenda for Sustainable Development Goals
This subject deals with topics related to the macro-area "Poverty and inequalities" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development