The Economics of Innovation and Scientific Research

(3 Credit Hours) · Undergraduate

We will use simple microeconomics principles to understand how and why innovation happens, how innovation is related to basic scientific research, what factors influence the production and diffusion of new ideas, and how government policy can help or hinder innovation. We will also study the relationship between innovation and economic welfare using recent macroeconomic models. Intermediate microeconomics and at least one semester of econometrics are recommended, though not required. There will be two midterms and a final exam, as well as written homework assignments