Economic modelling of innovation demands a great deal from economists since it requires them to analyse the new and unknown. This volume brings together contributions from a distinguished group of scholars who review a wide range of different theoretical and empirical economic approaches to this important topic.Beginning with a survey of recent economic analysis on the role of innovation in driving growth, this volume features papers on the mainstream approaches to the welfare economics of innovation, the pitfalls and delays involved in bringing major inventions to market and the public subsidy of research. Later chapters examine pricing strategies for new products, models of productivity growth, knowledge spillovers across national boundaries and the effect of innovation on income distribution. While recognising the many non-economic factors needed to explain innovation, Economic Approaches to Innovation demonstrates that economic analysis has much to offer in its modelling of key concepts such as uncertainty, private information, incentives and public goods.

First published in 2003, The Cambridge Handbook of Social Sciences in Australia is a high-quality reference on significant research in Australian social sciences. The book is divided into three main sections, covering the central areas of the social sciences-economics, political science and sociology. Each section examines the significant research in the field, placing it within the context of broader debates about the nature of the social sciences and the ways in which institutional changes have shaped how they are defined, taught and researched.

The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behavior of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these recent developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the recent literature on growth and dynamics: the statistical properties of underlying data and the effort to ensure that growth models are consistent with empirical evidence. Third, it discusses the increasingly international focus of macrodynamics and growth theory, an inevitable consequence of the integration of the world economy.

The development of the endogenous growth model rekindled interest in growth theory. In contrast to the neo-classical model, long-run endogenous growth emerged as an equilibrium outcome, reflecting the behaviour of optimizing agents in the economy. This book brings together a number of contributions in growth theory and macroeconomic dynamics, reflecting these developments and the ongoing debate over the relative merits of neo-classical and endogenous growth models. It focuses on the emergence of three important aspects: First, it develops growth models that extend the underlying theory in different directions. Second, it addresses one of the concerns of the literature on growth and dynamics: the statistical properties of underlying data and the effort to ensure that growth models are consistent with empirical evidence. Third, it discusses the increasingly international focus of macrodynamics and growth theory, an inevitable consequence of the integration of the world economy.

This high-quality reference on significant research in Australian social sciences is divided into three main sections: economics, sociology and political science. Each section examines the significant research in the field. The volume views the research within the context of broader debates about the social sciences and the ways in which more recent institutional changes have altered how they are defined, taught and researched.