Economics of Innovation

ABOUT THE COURSE:The rapid innovation in the modern economy has increased the rate of production of knowledge goods. This course will introduce the students to the basic concepts like public goods and externalities. Following that, the participants will learn about the innovation types, innovation systems, incentive tools like intellectual property, technology transfer, and the role of academic institutions in the innovation ecosystem. The last part will focus on how innovation contribute to economic growth.INDUSTRY SUPPORT: Consultancy firms

Week 1: What is innovation; Innovation in the history of economics thought.Week 2:Different types of innovation like drastic vs non-drastic innovation; disruptive innovation; user-based innovation; frugal and inclusive innovation;Week 3:Technological innovation and the theory of firmWeek 4:Technological innovation and the theory of firmWeek 5:Innovation: A systems approachWeek 6:Intellectual property rights and innovation; Case of product patent introduction in India and its impact on innovationWeek 7:University research and public-private interaction; Case study of Silicon Valley in indiaWeek 8:Geography of innovation; MNCs and Internationalization of R&DWeek 9:Markets for technology and issues related to technology transfer; Financing R&DWeek 10:Innovation and economic development; Innovation and employmentWeek 11:Diffusion of technology; Innovation in service sectorWeek 12:Science, Technology, and Innovation policy; India’s STIP 2020 (Discussion on Draft Proposal)