Introduction to economics of innovation

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Sept-Dec. 2010

Economics of innovation

Ludovic Dibiaggio SKEMA Business School

Course website
http://webintec.skema.edu/courses/GE2E1524/index.php
See the website for all information on

Course requirements Reading list and questions on reading My office hours (which may change from time to time) Links to some of the readings

Economics of innovation Sept_Dec. 2010

LudovicDibiaggio

Objectives
Why is innovation so important to
Society Economy Business

How does innovation work?
What are the main management choices to be made to face the innovation challenge? What are the basic analytical tools to handle these choices?

Economics of innovation Sept_Dec. 2010

Ludovic Dibiaggio

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Outline
Introduction: Why does it matter? What is innovation? Innovationand economic growth
• • Does innovation contribute to growth? Does it affect employment?

Innovation and market structure
• • Innovation and competition Industry dynamics

Innovation Management
• • • Entrepreneurship Funding innovation Protecting innovation

Economics of innovation Sept-Dec. 2010

Ludovic Dibiaggio

“… if a company had only one competency… it must be innovation. From astrategic perspective, the speed of innovation, the effectiveness of innovation and the ability to innovate are, perhaps, the only truly proprietary competitive weapons that an organization has.”
Peter Drucker

Economics of innovation Sept_Dec. 2010

Ludovic Dibiaggio

Knowledge economy is “… one in which the generation and exploitation of knowledge has come to play the predominant part inthe creation of wealth. It is not simply about pushing back the frontiers of knowledge; it is also about the most effective use and exploitation of all types of knowledge in all manner of economic activity” (DTI Competitiveness White Paper 1998) »

Economics of innovation Sept_Dec. 2010

Ludovic Dibiaggio

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Innovation and economic growth

Has innovation always been important? Doesinnovation naturally generate growth? Is there a particular link between capitalism and innovation?

Economics of innovation Sept_Dec. 2010

Ludovic Dibiaggio

Innovations that changed the world

chopper 2.5m -1.6 m BC. Bi face 1.9 m - 300,000 B.C. Polished 4,000 B.C.

Discovery of fire 800,000 B.C.
Economics of innovation Sept_Dec. 2010

Production of fire 400,000 B.C.
LudovicDibiaggio

Hearth fire construction 150,000 B.C.

Projections

Population
1 billion

Upper middle age (epidemies, invasions, wars)

Iron age (invasions, wars)
Bronze age (invasions,, wars)

Bones’ weapons Habitat Hunting & harvest

Agriculture
Industrial revolution

Climate hazards

Neolithic revolution

Climate hazards

Upper Paleolithic Innovations

Economics of innovationSept. 2009

Ludovic Dibiaggio

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Diffusion of ceramics
Neolithic expansion Cardial culture Linear Pottery culture

Economics of innovation Sept_Dec. 2010

Ludovic Dibiaggio

Diffusion of agriculture

Economics of innovation Sept_Dec. 2010

Ludovic Dibiaggio

Diffusion of innovation
Diffusion is the way in which innovations spread, through market or non-market channels fromtheir first worldwide implementation to different countries and regions and to different industries/markets and firms. Diffusion is the process that enables an innovation to contribute to economic growth and welfare

Economics of innovation Sept_Dec. 2010

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Economic growth in the middle age
'From the earliest times of which we have record-back, say, to two thousand yearsbefore Christ - down to the beginning of the eighteenth century, there was no very great change in the standard of life of the average man living in the civilised centres of the earth.'
John Maynard Keynes The Economic Possibilities of our Grandchildren,

0, 14%, per year over 500 years on average

Economics of innovation Sept_Dec. 2010

Ludovic Dibiaggio

Economic growth in the middle...
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