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Lecture

February 1 lecture notes

3 Pages
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Department
Economics
Course Code
ECO100Y1
Professor
Jack Carr

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Feb 1
Diagram of monopoly social gains
Movement from Q1 to Q2, can show the increase of profits by sum of two
areas
Christopher Freeman, 3rd ed, R7.3: innovation and tech change brought
forward increases eco growth, we can do more things, but eco theory and
model analysis has neglected the importance of innovation and invention,
partly because assumes that innovation was exogenous, other things dont
change assumption was held, so innovation didnt became a source, but other
things did change
First Kondratieff cycle 1): 1780-1840 industrial revolution and infrastructure
was canals
2) 1840-90, age of steam, railways
3) 1890-1940, automobile and steel, electricity and gas
4) 1940-90, mass production, jet aircraft, nuclear power, synthetics
5) 1990s, microelectronics and computers, infrastructure, info highway
(internet)
Schmookler Scissors effect: one blade is tech advance, supply side of
innovation; the other side, potential market demand
Fascination of innovation lies in the fact that both the mkt conditions and
tech are constantly changing
Sapple project: method in this project is to match successes against 29
failures, chemical and scientific instrument industry, establish a new market
or make a new product, failure is the opposite, ten positive characteristics
associated with successful innovation, id 7 here: [R p203]
1)Strong in house professional R&D
2)Basic research priority
3)Use of patens to gain protection
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Description
Feb 1 Diagram of monopoly social gains Movement from Q1 to Q2, can show the increase of profits by sum of two areas Christopher Freeman, 3 ed, R7.3: innovation and tech change brought forward increases ecogrowth, we can do more things, but ecotheory and model analysis has neglected the importance of innovation and invention, partly because assumes that innovation was exogenous, other things dont change assumption was held, so innovation didnt became a source, but other things did change First Kondratieff cycle 1): 1780-1840 industrial revolution and infrastructure was canals 2) 1840-90, age of steam, railways 3) 1890-1940, automobile and steel, electricity and gas 4) 1940-90, mass production, jet aircraft, nuclear power, synthe
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