Students should understand principally the complex relation between innovation and growth: they should identify and critically evaluate the established views about the dynamics of innovation; about the forces of technological change and how these affect the economy. This task requires students to familiarize themselves with theories of economic growth and identify the role played by innovation in the most recent theories. They should also understand the process of the diffusion of technology and how the current technological revolutions provide both a challenge and an opportunity to nations that have been lagging behind in their economic development. Students should also develop skills to observe and make predictions on ongoing innovations. They should be able to develop projects and ideas to transfer these observations and predictions to others who are less familiar with their field. This means that students should develop not only their analytic and academic skills but also their creativity and imagination.

On the completion of this course students will be able to:
- Understand evolution of technology.
- Understand innovation process.
- Develop an awareness of historic relation between theories of growth and the challenge brought by the introduction of innovation to these theories.
- Understand how innovation can influence developing nations and the concept leapfrogging.
- Critically evaluate limits of catch-up growth.
- Understand the role played by state in enabling or preventing growth and innovation.
- Understand manifold ways innovation change societies.
- Produce a project that employs various theories, models and ideas of innovation in action.