Economics of Innovation
UndergraduateLTU-ECO3EIN2025
Enrolments for this course are closed, but you may have other options to start studying now. Book a consultation to learn more.
- Study method
- 100% online
- Assessments
- 100% online
- Entry requirements
- Prior study needed
- Duration
- 12 weeks
- Start dates
- 3 Mar 2025
- Loan available
- HECS-HELP and FEE-HELP available
Economics of Innovation
About this subject
On successful completion you will be able to:
- Analyse and evaluate the economic imperative of innovation especially in the context of digital transformation.
- Critically analyse the roles of stakeholders of innovation and their interactions.
- Analyse market and institutional incentives to innovate, and their shortcomings.
- Synthesise the different dimensions of innovation and its measurement to explain its economic impact.
- Measuring innovation
- Analyse statistics of innovation
- Microeconomic approaches of innovation
- Innovation and the labour market
- Innovation and growth
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 digitisation 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. This subject addresses the Sustainable Development Goal 9 “Industry, Innovation and Infrastructure".
- Two Exercises (equivalent to 400 words each, total is 800 words) Assessment carried out in class or online. Each exercise worth 10%. (20%)
- Analysis of statistics of innovation (equivalent to 1200 words) (30%)
- Report (equivalent to 2000 words) (50%)
For textbook details check your university's handbook, website or learning management system (LMS).
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- 15
Entry requirements
Others
Prerequisites: Students must have completed a minimum of 120 credit points.
Additional requirements
No additional requirements
Study load
- 0.125 EFTSL
- This is in the range of 10 to 12 hours of study each week.
Equivalent full time study load (EFTSL) is one way to calculate your study load. One (1.0) EFTSL is equivalent to a full-time study load for one year.
Find out more information on Commonwealth Loans to understand what this means to your eligibility for financial support.
What to study next?
Once you’ve completed this subject it can be credited towards one of the following courses
UndergraduateLAT-BUS-DEG
UndergraduateLAT-ART-DEG
Bachelor of Arts/Bachelor of Health Sciences
UndergraduateLAT-AHS-DEG
Bachelor of Psychological Science
UndergraduateLAT-PYS-DEG
UndergraduateLAT-HSC-DEG
Bachelor of Information Technology
UndergraduateLAT-TEC-DEG
UndergraduateLAT-CYS-DEG
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