EC4416 Innovation Economics

Academic year

2024 to 2025 Semester 2

Further information on which modules are specific to your programme.

Key module information

SCOTCAT credits

20

The Scottish Credit Accumulation and Transfer (SCOTCAT) system allows credits gained in Scotland to be transferred between institutions. The number of credits associated with a module gives an indication of the amount of learning effort required by the learner. European Credit Transfer System (ECTS) credits are half the value of SCOTCAT credits.

SCQF level

SCQF level 10

The Scottish Credit and Qualifications Framework (SCQF) provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.

Availability restrictions

Available to General Degree students with the permission of the Honours Adviser

Planned timetable

When confirmed, check online https://timetables.st-andrews.ac.uk/.

This information is given as indicative. Timetable may change at short notice depending on room availability.

Module coordinator

Dr L M Simanjuntak

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module Staff

Dr Lois Simanjuntak and Dr Luca Savorelli

This information is given as indicative. Staff involved in a module may change at short notice depending on availability and circumstances.

Module description

Innovation is both a major contributory factor in economic growth and a crucial element of competitive behaviour and policy. The aim of this module is to introduce students to recent theoretical and empirical developments in the economics of innovation. The module examines the incentives firms have to innovate by the introduction of new products and new processes and, in particular, how this is affected by strategic competitive conditions. The module also critically discusses the patent system, introducing students to patent data and policies.

Relationship to other modules

Anti-requisites

YOU CANNOT TAKE THIS MODULE IF YOU TAKE EC4616

Assessment pattern

2-hour Written Examination = 50%, Coursework (incl. Class Test 25%) = 50%

Re-assessment

2-hour Written Examination = 100%

Learning and teaching methods and delivery

Weekly contact

20 hours of lectures over 11 weeks, 1-hour tutorial (x 5 weeks) plus 1 office hour (x 12 weeks).

Scheduled learning hours

25

The number of compulsory student:staff contact hours over the period of the module.

Guided independent study hours

175

The number of hours that students are expected to invest in independent study over the period of the module.

Intended learning outcomes

  • understand the nature of innovation
  • understand the interaction between incentives, market structures, and innovation
  • use the concepts developed in the course to analyse the key conceptual and policy issues around innovation
  • understand the functioning of the international patenting system
  • analyse patent data, metrics, statistics