🗊Презентация The economics of innovation. Lecture 1: Introduction to the economics of innovation

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The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №1The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №2The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №3The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №4The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №5The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №6The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №7The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №8The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №9The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №10The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №11The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №12The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №13The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №14The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №15The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №16The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №17The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №18The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №19The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №20The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №21The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №22The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №23The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №24The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №25The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №26The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №27The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №28The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №29The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №30The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №31The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №32
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Lecture 1: Introduction to the Economics of Innovation Module Convenor: Dr. Marc Idelson (marc.idelson@nottingham.edu.cn)
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Lecture 1: Introduction to the Economics of Innovation Module Convenor: Dr. Marc Idelson (marc.idelson@nottingham.edu.cn)

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TEACHING STAFF Module Convenor: Dr Marc Idelson Location: AB345 Email Address: marc.idelson@nottingham.edu.cn Telephone No.: 88180072 Office hours: teaching Wednesdays 2:45-4:15 p.m., by appointment
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TEACHING STAFF Module Convenor: Dr Marc Idelson Location: AB345 Email Address: marc.idelson@nottingham.edu.cn Telephone No.: 88180072 Office hours: teaching Wednesdays 2:45-4:15 p.m., by appointment

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LEARNING OBJECTIVE “To help students understand the economic analysis of innovation, and why innovation is so important to companies and to the economy. Economics of Innovation develops some theoretical building blocks for the analysis of innovation AND looks at empirical questions about innovation.” There is no main text for the course. Optional readings will be introduced gradually.
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LEARNING OBJECTIVE “To help students understand the economic analysis of innovation, and why innovation is so important to companies and to the economy. Economics of Innovation develops some theoretical building blocks for the analysis of innovation AND looks at empirical questions about innovation.” There is no main text for the course. Optional readings will be introduced gradually.

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ASSESSMENT: 75% EXAMINATION 25% Group Coursework Essay each group will comprise exactly 2 to 3 students
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ASSESSMENT: 75% EXAMINATION 25% Group Coursework Essay each group will comprise exactly 2 to 3 students

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Examination 1½ hour examination in December 2015. The exam paper will have two sections (A and B) each containing three questions. You are required to answer: TWO questions - one from section A and one from section B. Section A will include three questions which relate mainly to lecture topics 1-5. Section B will include three questions which relate mainly to lecture topics 6-10.
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Examination 1½ hour examination in December 2015. The exam paper will have two sections (A and B) each containing three questions. You are required to answer: TWO questions - one from section A and one from section B. Section A will include three questions which relate mainly to lecture topics 1-5. Section B will include three questions which relate mainly to lecture topics 6-10.

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Coursework 2500 words Sign up for a group of your choice on Moodle by the Friday, 16 October 2015. Deadline to submit is 2pm on Friday, 27 November 2015. Read the Project Brief for details (attached to module outline)
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Coursework 2500 words Sign up for a group of your choice on Moodle by the Friday, 16 October 2015. Deadline to submit is 2pm on Friday, 27 November 2015. Read the Project Brief for details (attached to module outline)

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Lecture 1 Introduction to the Economics of Innovation Lecture Outline Why should we study the economics of innovation? The merit of the history of economic thought Defining innovation
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Lecture 1 Introduction to the Economics of Innovation Lecture Outline Why should we study the economics of innovation? The merit of the history of economic thought Defining innovation

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The economics of innovation. Lecture 1: Introduction to the economics of innovation, слайд №8
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What is innovation?
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What is innovation?

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Innovations transform (and hopefully improve) ‘things’ and ‘ways of doing things’… CHEAPER AND/OR BETTER
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Innovations transform (and hopefully improve) ‘things’ and ‘ways of doing things’… CHEAPER AND/OR BETTER

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Innovation is key to growth, development and competitiveness “Much of the rise in living standards is due to innovation —this has been the case since the Industrial Revolution. Today, innovative performance is a crucial factor in determining competitiveness and national progress. Moreover, innovation is important to help address global challenges, such as climate change and sustainable development. “ OECD, 2007. Available at: http://www.oecd.org/science/inno/39374789.pdf
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Innovation is key to growth, development and competitiveness “Much of the rise in living standards is due to innovation —this has been the case since the Industrial Revolution. Today, innovative performance is a crucial factor in determining competitiveness and national progress. Moreover, innovation is important to help address global challenges, such as climate change and sustainable development. “ OECD, 2007. Available at: http://www.oecd.org/science/inno/39374789.pdf

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Why care about innovation? Knowledge and innovation are the source for Economic Growth and Competitiveness Innovation is often directly connected to Living Standards
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Why care about innovation? Knowledge and innovation are the source for Economic Growth and Competitiveness Innovation is often directly connected to Living Standards

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow
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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow
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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow
Описание слайда:
Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow
Описание слайда:
Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow
Описание слайда:
Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow
Описание слайда:
Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow
Описание слайда:
Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow Paul David Richard Nelson
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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow Paul David Richard Nelson

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow Paul David Richard Nelson
Описание слайда:
Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow Paul David Richard Nelson

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Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow Paul David Richard Nelson
Описание слайда:
Adam Smith Adam Smith John Stuart Mill Karl Marx Alfred Marshall Thorstein Veblen Joseph Schumpeter Robert Solow Paul David Richard Nelson

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5 themes that dominated the innovation studies Innovation and Wealth Creation Innovation and Competitiveness Innovation and Sustainability Innovation, unexpected side effects and paradoxical non-effects Who is the innovator?
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5 themes that dominated the innovation studies Innovation and Wealth Creation Innovation and Competitiveness Innovation and Sustainability Innovation, unexpected side effects and paradoxical non-effects Who is the innovator?

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Defining innovation (more formally) The Linear Model of Innovation (I) Innovation as the ‘successful’ exploitation of new ideas’’ (II)
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Defining innovation (more formally) The Linear Model of Innovation (I) Innovation as the ‘successful’ exploitation of new ideas’’ (II)

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The Linear Model of Innovation Linear means: A line of interconnections from Research/Creativity to Invention to Design/Development to Innovation Simplified model; No feedback loops
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The Linear Model of Innovation Linear means: A line of interconnections from Research/Creativity to Invention to Design/Development to Innovation Simplified model; No feedback loops

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The Linear Model of Innovation
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The Linear Model of Innovation

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Innovation is no longer seen as a linear process
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Innovation is no longer seen as a linear process

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Innovation as the ‘successful’ exploitation of new ideas
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Innovation as the ‘successful’ exploitation of new ideas

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Innovation=‘successful exploitation’ of new ideas Innovation doesn’t necessarily entail creating something new. It’s not the same as invention. “Too often the obsession is with inventing something totally unique rather than extracting value from the creative … ” (William Buxton, 2005) Innovation usually involves a fresh perspective on something that already exists. ‘I invented nothing new. I simply assembled the discoveries of other men behind whom were centuries of work…Progress happens when all the factors that make for it are ready and then it is inevitable.’ Henry Ford
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Innovation=‘successful exploitation’ of new ideas Innovation doesn’t necessarily entail creating something new. It’s not the same as invention. “Too often the obsession is with inventing something totally unique rather than extracting value from the creative … ” (William Buxton, 2005) Innovation usually involves a fresh perspective on something that already exists. ‘I invented nothing new. I simply assembled the discoveries of other men behind whom were centuries of work…Progress happens when all the factors that make for it are ready and then it is inevitable.’ Henry Ford

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Innovation and Technological Change Do all innovations involve technological change? Is every technological change also an innovation?
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Innovation and Technological Change Do all innovations involve technological change? Is every technological change also an innovation?

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Lecture 1: Introduction to the Economics of Innovation Summary Why should we study the economics of innovation The merit of the history of economic thought Defining innovation 3.1. The Linear Model of Innovation (I) 3.2.Innovation as the ‘’successful exploitation of new ideas’’ (III)
Описание слайда:
Lecture 1: Introduction to the Economics of Innovation Summary Why should we study the economics of innovation The merit of the history of economic thought Defining innovation 3.1. The Linear Model of Innovation (I) 3.2.Innovation as the ‘’successful exploitation of new ideas’’ (III)

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Oh… and one more thing Oh… and one more thing
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Oh… and one more thing Oh… and one more thing

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