Economics of Innovation

Course Description:

The course aims at providing an introduction to the main theoretical and empirical issues surrounding the economic analysis of innovation. In particular, the course will discuss how innovation emerges in modern economies and how it interacts with the dynamics and evolution of industries. The course will examine alternative ways of conceptualising innovation; the sources and procedures of innovation; the relationship between market structure and innovation; the trade-offs and dilemmas in terms of strategy and social welfare which characterise innovative environments. This course was conceived as an introductory course to students with a limited background in the innovation studies tradition. It uses simple microeconomic and industrial organisation models as well as empirical and historical evidence on the evolution of industries and case studies.

Learning Goals:

  • To acquire the basic terminology necessary to discuss, in a consistent and rigorous way, innovation issues;
  • To understand the role that innovation and technical change play in shaping competitiveness and industrial change;
  • To recognise sector-level specificities in the sources of innovation, and their consequences for practice and policy;
  • To recognise the systemic nature of the innovative process.

4-week course, to be completed within an 8-week time period.

A MSc or MA degree (or equivalent) in Social Sciences.

Estimated Workload:
60 hrs

Course Activities:
Online lectures, online discussion board, assignments, weekly tutorial meeting to discuss readings and assignments, and an oral exam.

ECTS equivalent credits obtained:
Participants will receive 2 ECTS equivalent credits upon successful completion of the course requirements, and oral exam. This certification will be offered through an online educational badge.

The course is completed once you fulfil the course requirements and pass the oral exam. Your coursebook will also include the explanation of resit options.

500 euro

Required Readings:
The cost of the course does not include books or hard copies of the course material. Course materials can be bought, ordered or downloaded by the participant him/herself.

The books “Oxford Handbook of Innovation” (2009) and “Primer on Decision Making: How Decisions Happen” (1994) are not available for free and need to be acquired separately. Links are provided below.

J. FAGERBERG, D. MOWERY and R. NELSON (eds)., The Oxford Handbook of Innovation, Oxford University Press, 2009: Chapter 1 Innovation: A Guide to the Literature, available from: .html?id=uF30DAAAQBAJ&printsec=frontcover&source=kp_read_button&re dir_esc=y#v=onepage&q&f=false

J. MARCH (1994), A primer on decision making, Free Press, New York, available from: d=RyC7AAAAIAAJ&redir_esc=y

Starting date of the course
Individually decided.
Upon successful enrolment, every participant will start the course on an individual basis, immediately after the acquisition of the course materials. Your tutor will reach out to you to agree on a timeline

Enrolment time
Upon registration, you will be enrolled for 8 weeks, including 1 week to access the platform and become familiar with the materials, 4 weeks of coursework, 1 week to submit the final assignment and 3 weeks for potential resit time.
In case you prefer to use the 8 weeks in a different way, please agree with your tutor during your first exchange.

Upon registration, you will be requested to pay the tuition. Please make the transfer to the following account. Upon payment, you will be registered as student, and contacted by your tutor. On average this takes 1-2 weeks.

Bank account no.
IBAN NL05 INGB 0657 618705
Swift or BIC code INGBNL2A
Beneficiary Maastricht University
Bank name ING Business Banking
Bank address P.O. Box 90153
5600 RE  Eindhoven
The Netherlands
Payment specification your last name and