Economics of Technological Change

Technological change in its many facets is central to an understanding of economic growth; yet, it was not always recognised as such. This module aims to study this key variable at the heart of the dynamics of industrial systems. The course will include theoretical as well as applied aspects, such as the determinants and consequences of technological innovation, its diffusion in the economic system, innovation strategies, the structure and dynamics of high technology industries, the role of institutions and national systems of innovation, and the importance of technological change for developing countries. The perspectives of both neoclassical and evolutionary economics will be studied.

Upon completion of the course, students should have a thorough understanding of the relationship between technological change and the dynamics and evolution of industries, firms' performance and growth and countries' competitive advantages.

Module presenter: Rachel Jafta

Course outline

Please note that this module is not presented every year, but in alternate years. The module was presented in 2021 and will be presented again in 2023.