ECONOMICS OF INNOVATION

ECO3EIN

2020

Credit points: 15

Subject outline

Innovation is one of the fundamental sources of economic growth and development.  It offers new opportunities, but its central role in a rapidly changing socio-economic environment also presents challenges to government agencies, organisations, firms and individuals alike.  Digital technologies, organisational and social innovations continuously transform the modes of production, consumption and social interactions, defying our understanding of how economic systems work.  In this subject you will examine the determinants and effects of innovation using various analytical and empirical economic frameworks.  You will explore key elements in innovation such as research and development, property rights, market competition, technological and organisational change, innovative systems, as well as the impact of automation and digitalisation on the economy with special emphasis on the labour market.  The main objective is to prepare you to be an active participant in the economic process of digital transformation, be aware of its challenges and make the most of the opportunities it presents.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorEmmanuelle Walkowiak

Available to Study Abroad StudentsYes

Subject year levelYear Level 3 - UG

Exchange StudentsYes

Subject particulars

Subject rules

PrerequisitesN/A

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Graduate capabilities & intended learning outcomes

01. Explain the economic imperative of innovation especially in the context of digital transformation.

Activities:
Students will apply the skills and knowledge developed with their preparation for face-to-face classes, using the resources provided on LMS and assessed with the in-class exercises.
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

02. Critically analyse the roles of stakeholders of innovation and their interactions

Activities:
Students will apply the skills and knowledge developed with their preparation for face-to-face classes, using the resources provided on LMS and assessed with the in-class exercises and final project.
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

03. Analyse market and institutional incentives to innovate, and their shortcomings

Activities:
Students will apply the skills and knowledge developed with their preparation for face-to-face classes, using the resources provided on LMS and assessed with the in-class exercises and group assignment.
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

04. Synthesize the different dimensions of innovation and its measurement to explain its economic impact

Activities:
Students will apply the skills and knowledge developed with their preparation for face-to-face classes, using the resources provided on LMS and assessed with the in-class exercises and the final project.
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

Subject options

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Start date between: and    Key dates

Melbourne, 2020, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorEmmanuelle Walkowiak

Class requirements

Evidence Based Learning Week: 10 - 22
One 2.0 hours evidence based learning per week on weekdays during the day from week 10 to week 22 and delivered via blended.

Assessments

Assessment elementComments% ILO*
In-Class Exercises (equivalent to 1200 words)Formative assessment carried out in class.20 01, 02, 03, 04
Group Presentation and written report (equivalent to 1000 words per student)Students work in groups of 3-4 to prepare and deliver a presentation and written report.30 01, 02, 03
Final Report (2000 words equivalent)To give students an opportunity to carry out an in-depth study of a topic within the scope of the subject. The assessment criteria will encompass problem identification, application of economic concepts, issues for strategy and/or policy formulation and implementation, critical analysis and conclusion.50 01, 02, 03, 04