ECONOMICS AND MANAGEMENT OF INNOVATION

This course focuses on the main issues of the economics and management of innovation and technological change. It aims to provide students with a solid knowledge of theoretical and empirical models of innovation. Particular emphasis will be placed on the issue of intellectual property rights and the topic of innovation sources (both internal and external). This course will analyze the various business strategies adopted by firms in relation to their innovative business (innovation awards, patents, licenses, and industrial secrets). The topics covered include the measurement and the empirics of innovation and R&D, diffusion of innovation, the economic effects of innovation, joint venture research, innovation timing, open innovation, innovation networking and innovation policy. This course aims to motivate students to analyze the various models of innovation and innovation strategies, using theoretical models, case studies and empirical analyses of the phenomena dealt with.

The contents will be the following.

1) Economics of innovation

- History of innovation and technological change and the concepts of innovation in the history of economic thought
- Basic concepts and definitions concerning innovation
- Main stylized facts on the innovative performance of European countries and regions
- The measurement of innovation: focusing on the main datasets and surveys at the country, regional and firm level
- Theoretical models of product and process innovation
- Theoretical models of R&D: patent races and optimal R&D investments under different market forms
- The economic principles of intellectual property rights protection
- The economic effects of innovation and innovation policy.

2) Management of innovation

- Innovation Strategy and business models
- Identifying strategic and dynamic capabilities
- Disruptive innovations and technological breakthrough
- Sources of Innovation
- Open innovation models, users as innovators and strategic alliances
- Selecting innovation projects
- Business intelligence and patenting