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Innovation and the Knowledge Economy


  • Credit value: 15 credits at Level 7
  • Convenor and tutor: Federica Rossi
  • Assessment: a 3000-word essay (100%)

Module description

The module explores the many roles that innovation and knowledge play in the economy and the challenges that the new 'knowledge economy' poses for businesses, governments and public and private sector organisations. It provides the essential ingredients that managers, entrepreneurs, business analysts and policymakers need in order to understand how innovation and knowledge support contemporary economic performance; the implications of innovation for growth, productivity and jobs; the changing nature and dynamics of innovation and of technology-based competition; and how companies can innovate and compete in the knowledge economy.

There will be several guest speakers from policy, university and industry. Class discussions, case studies and examples will form a central part of the module.

Indicative module content

  • The relationship between innovation, knowledge and economic growth and development; information and communication technology and productivity
  • Technological change, automation and the future of jobs
  • Technology and Industry dynamics
  • Innovation-based competition and 'winner take all' markets
  • Creating value from intellectual property and intangible assets
  • Open and decentralised models of innovation and user co-design
  • Government in the knowledge economy

    Learning objectives

    By the end of this module, you will be able to:

    • understand the impact of innovation and knowledge on economic performance (growth, productivity, jobs), how innovation processes occur, and why they differ in different firms, industries, market structures
    • identify the main contemporary sources of innovation and competition, their advantages and limitations, and their implications for business and policy
    • apply theoretical knowledge relating to innovation and competition in the knowledge economy to the analysis of real business cases
    • collect and interpret empirical evidence related to innovation.