Economics and Management of Innovation

Code 370PP
Credits 6

Learning outcomes

The course addresses the economic impact of technological information and knowledge, its struc-ture and dynamics, the related capability-based theories of the firms, and the normative implications in terms of strategic management. It begins with a recall of the particular economic properties of informa-tion including its increasing returns nature. Next, we address the interpretation of the nature and dynamics of technological paradigms. As technological knowledge is to a good extent embodied into the practices of corporate organizations, we present the theory of the firm centered on the knowledge it embodies. Finally, the normative side is addressed, analyzing the dynamic capabilities associated with the management of organizational routines and their change over time.