Since the first industrial revolution, innovation and technical progress have been the engines of economic growth, development and welfare. This course aims at understanding the nature, the role and the effects of innovation on the individual, the firm and society as a whole.
We will start by defining and measuring innovation, describing its process - notably its drivers - and profiling the innovators. We will also review the classical and Schumpeterian theories of innovation and creative destruction, which underlie the course.
We will scrutinize the macro- and microeconomic impacts of innovation and creative destruction: on the one hand, the impact of innovation on growth, labor and welfare, notably from a historical perspective; on the other hand, the microeconomic impact of innovation at the firm and individual levels. This will allow us to revisit the great debates over innovation and growth in developed and developing countries.
Last, we will study the policy implications of innovation, notably the regulation issue with a focus on taxation and competition policy, and the financing issue. We will rethink the role of the state and civil society, analyzing how they can stimulate innovation and thereby increase the wealth of nations. This will lead us to a more global
reflection on the future of capitalism.
Throughout the course, a special emphasis will be lain on the latest industrial revolution, i.e. the ICT and AI revolution. This third industrial revolution will serve as a prime example to illustrate the innovation process.
Céline ANTONIN
Enseignement électif
English
Preparing the lectures by reading the requested references.
Interest and motivation for economics
Autumn 2022-2023
two (short) written tests, to test the knowledge and understanding of the main concepts and ideas
an 10-minute oral presentation (with home preparation, the list of topics will be handed out at the beginning of the semester).
Compulsory reference articles: to be given during the course of the semester.
Aghion P., Antonin C. and Bunel S., « The power of creative destruction », Harvard University Press, April 2021.
Ajay Agrawal, Joshua Gans, and Avi Goldfarb (editors), The Economics of Artificial Intelligence: An Agenda, Chicago: University of Chicago Press, 2019.