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TOPICS IN INNOVATION ECONOMICS I

Degree course: 
Corso di Second cycle degree in GLOBAL ENTREPRENEURSHIP ECONOMICS AND MANAGEMENT
Academic year when starting the degree: 
2020/2021
Year: 
1
Academic year in which the course will be held: 
2020/2021
Course type: 
Compulsory subjects, characteristic of the class
Language: 
English
Credits: 
6
Period: 
First Semester
Standard lectures hours: 
40
Detail of lecture’s hours: 
Lesson (40 hours)
Requirements: 

Müller:
None.

Sterzi:
Some microeconomics and basic econometrics would help.

Final Examination: 
Orale

Müller:
Students will be evaluated on the basis of an essay discussing a topic relevant to the course. A written exam will be introduced if necessary.

Sterzi:
Students will be evaluated on the basis of a presentation, do be given the last day of the course.

Assessment: 
Voto Finale

Müller:
Agent-based modelling (ABM) has been acknowledged by many scholars and various scientific disciplines as a promising tool to investigate the dynamics of complex systems, such as economic systems. In particular in economics, ABM increasingly gains momentum and is considered as an approach with the potential to overcome the shortcomings of the mainstream approach with its optimization- and equilibrium-oriented framework which requires substantial simplifications of the phenomena under investigation.
By the end of the course, students will
- understand the basics of the ABM approach, including the main benefits and pitfalls,
- be able to assess when an agent-based approach should be used and why,
- have learned basic programming skills in NetLogo allowing them to independently work with existing models and to create new models.

Sterzi:
The course provides an overview of the main topics of economics of innovation, with a particular attention to intellectual property rights (from now on IPRs). The first part of the course will focus on the source of innovation and science policy. The second part will cover issues related to IPRs, with a particular interest on the economics of patents. The third part covers the economics of trademarks.

Müller:
This course is subdivided into 4 interrelated parts:
(1) Introduction to agent-based modelling in economics (5 hours): The introduction aims at giving some more general thoughts on what agent-based modelling is, what we can do with it and how it relates to other modelling approaches. Through various sample models, this part with also introduce the students to NetLogo a free software environment that can be used to program simple agent-based models.
(2) Current challenges of economics (5 hours): The second part aims at explaining in more detail the advantages of an agent-based modelling approach, focusing on the current challenges in economics. The main benefits and pitfalls of ABM will be elaborated on by using sample models in NetLogo. For this, the students will work in groups using and analysing the sample models.
(3) Modelling knowledge as a key for innovation (5 hours): During the third part of this course, students will develop a simple model of knowledge creation and diffusion. For this, different knowledge representations will be introduced and the consequences of each representation will be discussed in detail.
(4) Future challenges (5 hours): The last part of this course will critically reassess the content of the course and will give a broad overview on future challenges and possible research avenues in this field.

Sterzi:
The main topics of the course are:
Part 1: Source of Innovation (Science + Learning by Doing / Learning by Using / Design) and Science Policy (The Economics of (Basic) Science + The Economics of R&D Subsidies)
Part 2: The Economics of patents (Introduction + Patent historical overview + Optimal Patent Duration + Strategic patenting + Economics of patent assertion)
Introduction to the economics of trademarks

Müller:
This course is subdivided into 4 interrelated parts:
(1) Introduction to agent-based modelling in economics (5 hours): The introduction aims at giving some more general thoughts on what agent-based modelling is, what we can do with it and how it relates to other modelling approaches. Through various sample models, this part with also introduce the students to NetLogo a free software environment that can be used to program simple agent-based models.
(2) Current challenges of economics (5 hours): The second part aims at explaining in more detail the advantages of an agent-based modelling approach, focusing on the current challenges in economics. The main benefits and pitfalls of ABM will be elaborated on by using sample models in NetLogo. For this, the students will work in groups using and analysing the sample models.
(3) Modelling knowledge as a key for innovation (5 hours): During the third part of this course, students will develop a simple model of knowledge creation and diffusion. For this, different knowledge representations will be introduced and the consequences of each representation will be discussed in detail.
(4) Future challenges (5 hours): The last part of this course will critically reassess the content of the course and will give a broad overview on future challenges and possible research avenues in this field.

Sterzi:
The main topics of the course are:
Part 1: Source of Innovation (Science + Learning by Doing / Learning by Using / Design) and Science Policy (The Economics of (Basic) Science + The Economics of R&D Subsidies)
Part 2: The Economics of patents (Introduction + Patent historical overview + Optimal Patent Duration + Strategic patenting + Economics of patent assertion)
Introduction to the economics of trademarks

Müller:
The course will be based on a set of slides written by the lecturer, covering both theory and specialized paper-length examples. A list of academic papers addressing more advanced topics will be provided to the students as additional readings.

Sterzi:
- Guellec, D., and B. Van Pottelsberghe (2007) The economics of the European patent system: IP policy for innovation and competition. Oxford University Press
- Scotchmer S. (2004) Innovation and Incentives, MIT Press (Chapters 1-5 Only)
- Additional reading materials will be provided the first day of the course (contact the instructor)

Convenzionale

Müller:
The course will combine traditional lecturing and self determined learning in groups. Particular focus will be on the practical application of the theory by working with NetLogo.

Sterzi:
The course will combine frontal teaching and students’ discussion of readings.

Müller:
Office hours by email.

Sterzi:
Office hours by email.

Professors

MULLER MATTHIAS
STERZI VALERIO VITTORIO ANTONIO

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