Module Code - Title:
EC4047
-
ECONOMICS OF INNOVATION AND POLICY
Year Last Offered:
N/A
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module explores the drivers, dynamics, and policy dimensions of innovation within modern economies. Topics include the foundations of innovation economics, the legacy of Schumpeter, and the roles of science, technology, and economic complexity. The module examines the determinants of innovative activity across firms, regions, and institutions, highlighting open innovation, agglomeration, and barriers to knowledge diffusion. Policy themes span mission-oriented innovation, eco-innovation, and global development goals. An integrated international macroeconomics component links monetary-fiscal dynamics, global capital flows, and sovereign debt to innovation-driven growth.
Syllabus:
Innovation and economic change and economic growth; Creative Destruction and Accumulation and the pioneering work of Joseph Schumpeter and other key economists in the field of the Economics of Innovation; Science, Technology and Innovation; Global patterns of innovation; Innovation success in small and larger firms; Persistence and diversity in R&D when building a unique knowledge base. ; The role of Higher Education Institutions in the innovation process and technology transfer policies (including two-worlds paradox); Resources for innovation and barriers to innovation; The Environment, Green/Eco-Innovation & Climate Change, the UN Sustainable Development Goals and role of policy.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students will be able to:
Identify and discuss the key concepts and theories regarding the drivers/barriers of innovation in firms.
Demonstrate an understanding of how innovation can enable addressing the economic, societal and environmental challenges of our time.
Evaluate the merits and de-merits of the economics of innovation and innovation policy research in informing contemporary innovation policy debates.
Synthesise the positives and negatives of various policy interventions from both micro- and macro-economic perspectives, to drive innovation activities in firms.
Affective (Attitudes and Values)
On successful completion of this module, students will be able to:
Embrace the societal, ethical, and global significance of innovation by recognising the importance of creative destruction, scientific and technological advancement, organisational learning, and sustainability.
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
The module is delivered through a combination of interactive lectures, tutorials, seminar discussions, and guided readings, providing students with an engaging and participatory learning experience. The learning environment aligns with UL’s Integrated Curriculum Development Framework by combining formal instruction with collaborative, inquiry-based activities, fostering critical thinking, analytical skills, and independent research. Through these approaches, students develop key Graduate Attributes, including intellectual curiosity, evidence-based reasoning, effective communication, and the ability to apply historical understanding to contemporary economic issues.
Prime Texts:
Hall, B.H. and Rosenberg, N. eds. (2010)
Handbook of the Economics of Innovation
, Elsevier
Other Relevant Texts:
Johannessen, J-A. (2025)
Innovation and Economic Development: A Microeconomic Perspective
, Routledge
Programme(s) in which this Module is Offered:
BACHELOR OF BUSINESS STUDIES
Semester(s) Module is Offered:
Autumn
Module Leader:
helena.lenihan@ul.ie