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Course Topics
A 5-Credit Online Course
Economics 270
Course Topics
- The Emerging Technologies: What are they; what has their economic impact been to date; projections of future economic impact. Is there a new economy?
- Theories of Technological Innovation: An examination of the theories of the major economists with respect to the causes and effects of technological innovation. Includes the ideas of Smith, Ricardo, Marx, Keynes, and Schumpeter.
- Major Innovations in Historical Perspective: An examination of the causes and the effects of past technological revolutions: particularly the railroad and electricity.
- The ‘Death of Distance: An investigation of the cause and effect relationships between the new electronic technologies and increasing economic globalization.
- Microeconomic Theory -- Old and New: Limitations of standard microeconomic theory with respect to information-technology industries and products. The emerging body of theory of the "economics of networks."
- Institutional Frameworks for Promoting Innovation: Government’s role in the promotion of innovation. Comparison of technology policies and industrial policies of the U.S., Canada, Japan, and the EU.
- Competition vs. Monopoly: Schumpeterarian vs. orthodox theories of competition and monopoly. Problems with the applicability of antitrust laws in new-technology based industries.
- Information -- Its Cost, Value and Price: How do copyrights and the ownership of information affect information-technology industries? Contrasts information as a public good with information as an owned commodity.
- Business Models: How firms are trying to make the internet profitable. Information-dissemination businesses; web-based selling; the potential disintermediation of the retail sector; the financial sector.
- Labor Markets: An examination of labor market trends. Global labor markets. Contingent labor (temps, individual contracts, etc.). Potential effects on the total number of jobs. Effects on types of jobs.
- Technological Trends: What innovations in the emerging technologies can we expect in the near future?
- Institutional Trends: How do the emerging technologies affect such institutions as education, libraries, research institutes, local government, etc.? What types of institutional change may be necessary in order for society to derive the greatest benefits from these technologies?
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