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Economics of Innovations

Course Title

Economics of Innovations


ECN 391


Prof. Sasho Kjosev, PhD (Full Professor)

Course objectives (competencies): The discipline introduces the main themes of the economics of innovations. The aim is to provide an understanding of theoretical models of the effects of market power on the intensity of innovative activities, as well as alternative incentive mechanisms, such as: awards, patents, copyrights and trade secrets. The course covers central aspects of the economics of innovations on micro and macro level as changes that are at the core of the economic development process. How are innovation and productivity measured and compared in firms or nationally? How can innovation be useful in understanding the differences between sectors and countries? Is evolution economics an alternative to neoclassical economics, or is there convergence between the two approaches? At the micro level: how do innovations affect the firm’s economic competitiveness and productivity? At the macro level: the relationship between innovation and differences in economic growth and development in individual countries / regions or sectors? 

Course content: The course begins with the introduction of basic concepts and ideas for innovation. Next, the role of entrepreneurs is included in the innovation process, as well as the organization of innovations within the company. Topics include the Intellectual Property Protection (IP) system; licensing and research, joint ventures; strategic choices in innovation and competition; the value of innovations and patents; product and innovation process; diffusion of knowledge; interaction between innovation, capital, public and private sector; the effects of networking; current and long-term problems and policies. Finally, it assesses how innovation contributes to the creation of economic values ​​and economic growth. The academic and practical aim of this course is to elaborate students’ skills to use theoretical tools in formulating and solving economic problems. 


The topics covered in the course are:

  • Basic concepts and ideas related to innovation
  • The innovation process including the role of creativity
  • The role of entrepreneurs and innovation organizations
  • Clusters and networks· Spreading innovation
  • Innovation and economic growth



70 години

Во 2020 Економскиот факултет при Универзитетот “Св. Кирил и Методиј” во Скопје слави 70 години од своето основање.