ECON 646Economics of Technical Change

This course gives an overview of the recent literature on the economics of technological change. We discuss the neoclassical literature on technological change, as well as neo-Schumpeterian and more evolutionary approaches to technology. The course begins with the macro-economic effects of technological change, starting with growth accounting and leading towards an outline of endogenous growth models. It will discuss the impact of technological revolutions from an historical perspective, as well as Schumpeter's theory of basic innovations and long waves in economic growth. Topics in the microeconomics of technological change may include the diffusion of technologies, optimal patent design and patent races, technology competitions and standardization.