Indurstrial Economics (Field 8)

EE485 Economics of Innovation

3 (3-0-6) 

Prerequisites: EE311

Study of innovation, technological change, and intellectual property, including the industrial organization and performance of high-technology industries and firms. Topics include the standard modern economic aspects of innovation both at micro and macro levels; modern intellectual property rights; innovation examples from agriculture, energy, pharmaceuticals, software, and electronics; innovation and market structure; legal and economic issues of intellectual property rights; science and technology policy; patent values and the return on R&D investment; intellectual property issues arising from direct and indirect network externalities, and globalization; the contributions of innovation and diffusion to economic growth; the roles of the public and private sectors; public policy and incentive structure for research and innovation. Methods of analysis are both theoretical and empirical, econometric and case study.