Economics for Technology and Innovation
Overview
Technology drives the modern economy, shaping profitability, competitiveness, and economic growth. This unit introduces students to the economics of technology, enabling them to analyse the incentives, processes, and impacts of technological change on business and society. It equips students with analytical tools to assess how firms, consumers, and policymakers interact within technology-driven economies. Students will gain insights into the drivers of technological progress, the role of intellectual property, challenges incentivising and financing technology and the impact on competitiveness and sustainability.
Requisites
02-November-2025
31-May-2026
Learning outcomes
Students who successfully complete this unit will be able to:
- Analyse key microeconomic concepts relevant to technology and innovation, including supply and demand, production, costs, prices, competition, and market power
- Evaluate fundamental concepts in the economics of technology, including public goods, externalities, intellectual property, risk and uncertainty, network effects, spillovers, and how technological change interacts with markets
- Distinguish between forms of technological innovation, including invention, innovation, and diffusion; radical vs. incremental innovation; and product vs. process innovation
- Critically analyse the role of corporate and government policies in shaping technological innovation, including financing, intellectual property rights, market incentives, and subsidies
- Critically evaluate the role of technology in value creation, firm performance, and competitiveness, as well as its broader implications, for example, ethical considerations, environmental sustainability, and societal impacts
Teaching methods
Hawthorn
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
On-campus Class |
2.00 | 12 weeks | 24 |
Online asynchronous lecture |
1.00 | 12 weeks | 12 |
Unspecified Activities Independent Learning |
9.5 | 12 weeks | 114 |
| Total | 150 |
Swinburne Online
| Type | Hours per week | Number of weeks | Total (number of hours) |
|---|---|---|---|
| Online Directed Online Learning and Independent Learning | 12.50 | 12 weeks | 150 |
| TOTAL | 150 |
Assessment
| Type | Task | Weighting | ULOs |
|---|---|---|---|
| Assignment 1 | Individual | 40-60% | 1,2,3 |
| Assignment 2 | Group | 40-60% | 1,2,3,4,5 |
Content
- Economic foundations for technology and innovation: Key microeconomic concepts, market dynamics, and the interaction between technology and economic principles.
- Types and processes of innovation: Understanding invention, innovation, diffusion, and distinctions between radical vs. incremental and product vs. process innovation.
- Policy and regulatory influences: The impact of corporate and government policies on technological development, including intellectual property, financing, and market incentives.
- Broader implications of technology: Examining technology’s role in value creation, firm performance, and its ethical, environmental, and societal impacts.
Study resources
Reading materials
A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.