A relatively new branch of economics is Innovation Economics. This subject focuses on the topic of innovation, alongside the study of technology, knowledge, and entrepreneurship. It aims to understand where new ideas come from, and how we can put forward policies which will encourage the development of new ways of thinking. As many nations move away from an industrial model of production and towards a knowledge-based economy, the economics of innovation becomes more and more relevant. Although it is a fairly recent field, innovation economics has risen to prominence quickly over the last few years.
If you're interested in learning more about this field, we've compiled a list of links and resources to help teach you and keep you up to date on all the latest developments in innovation economics.
University courses on Innovation Economics:
Naturally, one of the best ways to learn about innovation economics is to study it as part of an academic course. Courses on innovation economics are most often found within economics departments, but they may also be taught in business schools because of the discipline's close links with entrepreneurship. You can see examples of some courses at highly regarded universities which specialise in innovation economics below:
- Undergraduate course, Yale University, US
- Undergraduate course, Nottingham University Business School, UK
- Master's course, École polytechnique fédérale de Lausanne, Switzerland
- “Broadening” module for undergraduate students, University of Leeds, UK
Upcoming conference on Innovation Economics:
If you are more advanced in your career – for example, if you are a PhD student or postdoc with an interest in this field, then you might consider attending a conference. The biggest conference in the field is the yearly “Conference on Innovation Economics”, an international conference which this year is to be held in Illinois, US.
Thursday, June 22 - Friday, June 23, 2017
Pritzker School of Law, Northwestern University, US
Academic journals on Innovation Economics:
For senior researchers who need to know about the latest research, or for students who are trying to learn about the field, then academic journals will contain the highest-quality work and detail the latest findings in the field. Here are two journals which specialise in innovation economics:
Published by Taylor & Francis
A journal which is “devoted to the theoretical and empirical analysis of the determinants and effects of innovation, new technology and technological knowledge. The journal aims to provide a bridge between different strands of literature and different contributions of economic theory and empirical economics.”
Co-edited by the Research Network on Innovation (RRI) and De Boeck Université
A journal focused on “discussion of new innovation strategies of firms and organization which have an impact on the economy and society.”
Blogs on Innovation Economics:
For a more casual but very up-to-date read, you might want to check out blogs like the one below. This is written by a professor of innovation economics at UCL.
- Blog of Mariana Massucato, Professor in the Economics of Innovation and Public Value at University College London (UCL)
Books on Innovation Economics:
Finally, the best way for a newcomer to the field to get a really good handle on it is to read a book on it. There will be plenty of in-depth information to give you an overview of the subject and to fill in any gaps in your understanding. Try either of the books below:
Published by Elsevier
Editors: Bronwyn H. Hall Nathan Rosenberg
Published by Yale University Press
Authors: Robert D. Atkinson and Stephen J. Ezell
For more advice for economists, see these articles: