ECON 431 - Economics of Innovation & Intellectual Property

Units: 3
Examination of the conditions and mechanisms that promote firms to undertake research and development. Topics include IP licensing, network effects and standards, the role of the U.S. patent system, alternative incentive mechanisms, technological diffusion, and the U.S. copyright system.

Prerequisites: ECON 300 or ECON 380.
Possible Instructional Methods: Entirely On-ground.
Grading: A-F grading only.
Course Typically Offered: Spring Alternate Years

Student Learning Outcomes - Upon successful completion of this course students will be able to:

Understand and estimate the relationship between innovation and economic growth;
Understand the costs and benefits of the U.S. patent system as a mechanism to stimulate invention;
Understand current models of the diffusion process for technological innovations, including the role of network effects;
Understand the role of licensing, commercialization, and disruptive technologies in the process of technological change;
Analyze the implications of the U.S. copyright system for creativity.