There are no prerequisites to take this subject. Despite this, it is advisable that the student has passed subjects as Foundations of Microeconomics, Applied Economics or Spanish Economy. Moreover, the student must have the basic skills in handling computer software to solve the practical exercises (Word, Excel or similar). Knowledge of a foreign language, preferably English, can also allow read supplementary literature.
The Economics of Innovation refers to the analysis of markets and the behaviour of firms operating in these markets taking into account the role of innovation. Traditionally, this course has been taught under the name of "Industrial Economics" (Industrial Organization). Given the current role of innovation to understand the competition level in the markets, this area is called "Economics of Innovation" in the current curriculum. This subject includes contents of Industrial Organization but is more in line with current economic reality considering the key role of innovation and technological change. The name "Economics of Innovation" is justified because the nature of competition in the markets is broader than simple competition through prices and focuses on innovation (in new products, processes, marketing and organizational ways...). The direct consequence is that markets are experiencing a continuous change since the conduct of companies constantly modifies their conduct taken into account technological change. This dynamic conception of competition deviates from the neoclassical tradition, but integrates many of the problems in the models of imperfect competition of traditional microeconomic analysis. From a microeconomic view, the course addresses key issues for understanding the level of competition in the markets and the strategic behaviour of firms, the conditions under which there is full competition and identification of anti-competitive practices and abuse of dominant position. The course also aims to provide students with tools that will be useful in their future professional activity, especially in developing market research or making strategic decisions in the field of business.
| Course competences | |
|---|---|
| Code | Description |
| E02 | Understand the role of institutions and economic agents in economic and social activities. |
| E04 | Analytical skills to identify and anticipate relevant economic and legal issues and the different alternative solutions. |
| E10 | Ability to design and implement policies and strategies promoting competition and market restructuring. |
| G01 | Possession of the skills needed for continuous, self-led, independent learning, which will allow students to develop the learning abilities needed to undertake further study with a high degree of independence. |
| G03 | Develop oral and written communication skills in order to prepare reports, research projects and business projects and defend them before any commission or group of professionals (specialised or non-specialised) in more than one language, by collecting relevant evidence and interpreting it appropriately so as to reach conclusions. |
| G04 | Ability for the use and development of information and communication technology in the development of professional activity. |
| G05 | Capacity for teamwork, to lead, direct, plan and supervise multidisciplinary and multicultural teams in both national and international environments. |
| Course learning outcomes | |
|---|---|
| Description | |
| Know the performance and regulation of product and factor mark ets at national and international level and the drivers for the generation of wealth and a suitable distribution of income. | |
| Train the student to listen to and defend arguments orally or in writing | |
| Train the student to work out problems in creative and innovative ways. | |
| Additional outcomes | |
| Description | |
| Diagnosis and assessment skills to conduct reports about the situation of a market. | |
| Identify relevant sources of information and its content, as well as the ability to derive the important information from the data, otherwise completely unknown to non-professionals. | |
| Ability to design and implement policies and strategies promoting competition and market restructuring. | |
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Unit 1: Theories of Industrial Organization
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Unit 2: Innovation and technological change
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Unit 3: Entry barriers and innovation
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Unit 4: Market Structure and innovation
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Unit 5: Product differentiation, diversification and innovation
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Unit 6: Vertical integration and Transaction costs
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Unit 7: Regulation, Innovation and Competition Defense Policy
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Unit 8: Globalization, Innovation and Competition
| Training Activity | Methodology | Related Competences (only degrees before RD 822/2021) | ECTS | Hours | As | Com | R | Description * |
| Class Attendance (theory) [ON-SITE] | Lectures | E02 E04 E10 G01 | 1.33 | 33.25 | Y | N | N | |
| Class Attendance (practical) [ON-SITE] | Practical or hands-on activities | E02 E04 E10 G01 | 0.35 | 8.75 | Y | N | N | |
| Other on-site activities [ON-SITE] | Cooperative / Collaborative Learning | E02 E04 E10 G01 G05 | 0.32 | 8 | Y | N | Y | |
| Study and Exam Preparation [OFF-SITE] | Self-study | E02 E04 E10 G01 | 2 | 50 | Y | N | Y | |
| Other off-site activity [OFF-SITE] | Case Studies | E02 E04 E10 G01 G03 G04 G05 | 0.5 | 12.5 | Y | N | Y | |
| Other off-site activity [OFF-SITE] | Problem solving and exercises | E02 E04 E10 G01 G03 | 0.8 | 20 | Y | N | Y | |
| Other off-site activity [OFF-SITE] | Reading and Analysis of Reviews and Articles | E02 E04 E10 G01 G03 G04 G05 | 0.6 | 15 | Y | N | Y | |
| Final test [ON-SITE] | Assessment tests | E02 E04 E10 G01 | 0.1 | 2.5 | Y | N | Y | |
| Total: | 6 | 150 | ||||||
| Total credits of in-class work: 2.1 | Total class time hours: 52.5 | |||||||
| Total credits of out of class work: 3.9 | Total hours of out of class work: 97.5 | |||||||
As: Assessable training activity Com: Training activity of compulsory overcoming R: Rescheduling training activity
| Grading System | |||
| Evaluation System | Face-to-Face | Self-Study Student | Description |
| Assessment of problem solving and/or case studies | 40.00% | 0.00% | The quantity and quality of the practices will be valued. They will be delivered through the virtual platform |
| Final test | 50.00% | 0.00% | Final exam with different questions about concepts, theoretical topics and resolution of practical exercises. |
| Assessment of active participation | 10.00% | 0.00% | Evaluation of the quantity and quality of participation in the classroom classes |
| Total: | 100.00% | 0.00% | |
| Not related to the syllabus/contents | |
|---|---|
| Hours | hours |
| Class Attendance (theory) [PRESENCIAL][Lectures] | 33.25 |
| Class Attendance (practical) [PRESENCIAL][Practical or hands-on activities] | 8.75 |
| Other on-site activities [PRESENCIAL][Cooperative / Collaborative Learning] | 8 |
| Study and Exam Preparation [AUTÓNOMA][Self-study] | 50 |
| Other off-site activity [AUTÓNOMA][Case Studies] | 12.5 |
| Other off-site activity [AUTÓNOMA][Problem solving and exercises] | 20 |
| Other off-site activity [AUTÓNOMA][Reading and Analysis of Reviews and Articles] | 15 |
| Final test [PRESENCIAL][Assessment tests] | 2.5 |
| Global activity | |
|---|---|
| Activities | hours |