Innovation is one of the main sources of economic development. Improving their innovative capacity is a major challenge for countries in both the developed and developing world. The key questions in the economics of innovation as a field are which innovations to encourage, how to reward them, and how to encourage their diffusion. This subject considers the different methods for rewarding innovation, such as prizes, intellectual property, and contests. We will study formal microeconomic models analysing the advantages and disadvantages of each method in the creation of knowledge. As an example, we will analyse how encouraging investment in neglected diseases, such as malaria and... -- Course Website
Prerequisites: The following:<br/> Subject Study Period Commencement: Credit Points: ECON20002 Intermediate Microeconomics Summer Term, Semester 1 12.50
