Econ 486X

Science and Technology and Economic Growth

Fall 2003

Professor Wallace Huffman  -  382A Heady Hall, 294-6359

                                                     whuffman@iastate.edu

                                                      Office Hours: T,Thu 1-2, Fri 2-3, and by appointment

Class meeting: MWF 1:10pm, Agronomy 2026

Course Objectives: Review of sources and differences in economic growth experiences of nations; sustainability of economic growth; convergence in economic growth rates; sources of technical change, including endogenous or induced technical change and rise of institutionalized research and invention; technical innovations and industrial change; the role of physical sciences, including chemistry and information science and technology, and biological sciences, including agriculture and biotechnology, in modern economic growth; economics of adoption, diffusion and technology transfer; interrelationships between public and private sectors; economics of science and technology policy, including intellectual property rights, universities of science and technology, sources of funding and funding mechanisms, and organization of science and technology.

Reading List and Course Outline

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Grading

             1. Exams: Midterm                                                                                    35%

                             Final                                                                                          45%

             2. Short paper on any topic of course: 4 pages (Undergraduates)                20%

                                                                         10 pages (Graduates)

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Outline

      I. Introduction

     II. Theories of Economic Growth

    III. The Sources of Technical Change

       A. Discovery, Invention, and Innovation

       B. Technical and Institutional Innovation

       C. Technology Adoption, Diffusion, and Transfer

IV. Technical Innovation and Industrial Change

         A. Physical Sciences

               1. Chemicals

               2. Semi -Conductors

         B. Biological Sciences

      1. Agriculture

                2. Biotechnology

 V. Science and Technology Policy

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Required Text

(1) Ruttan, Vernon. Technology, Growth, and Development. New York:

                          NY: Oxford University Press, 2001.

            (2) Jones, C.I. Introduction to Economic Growth. 2rd Edition, New York, NY:

 W.W. Norton & Co., 2002.