Eco 480: Economic Forecasting
Scientific and technological progress is an important route to improved living standards and economic growth. Government policy plays a key role shaping and directing science and technology. This course will explore the societal impact of science and R&D and the government policies that influence science and R&D. Topics will include the roles played by government funding (e.g., NIH, NSF, DOE), regulation (e.g., FDA), law (e.g., intellectual property, immigration, trade), higher education, non-profits, and industry. The course will also cover the labor market for scientists and engineers and the organization of science, especially the growing importance of teamwork and networks and the growing institutionalization of science and the role of incentives. Knowledge spillovers will be covered and their implication for economic growth, regional development and inequality will be explored. While all major scientific and innovative fields will be discussed, the course will draw examples disproportionately from the health sciences and biomedical fields.