from The Open University
Alternatively you can skip the navigation by pressing 'Enter'.
The Hunt: Episode 2: In the Grip of the SeasonsWednesday, 25th November 2015 01:15 - BBC TwoHow do polar predators face the challenges of hunting in the Arctic, the most seasonal place on Earth? The only... Read more: The Hunt: Episode 2: In the Grip of the Seasons
The Hunt: Episode 2: In the Grip of the SeasonsWednesday, 25th November 2015 01:45 - BBC Two
Power to the People: Episode 2: It's Not Easy Being GreenWednesday, 25th November 2015 03:00 - BBC Four
All in the Mind: Mindfulness, porn addiction and slothfulnessWednesday, 25th November 2015 15:30 -
The Hunt: Episode 2: In the Grip of the SeasonsAvailable until Friday, 25th December 2015 02:45How do polar predators face the challenges of hunting in the Arctic, the most seasonal place on Earth? The only... Read more: The Hunt: Episode 2: In the Grip of the Seasons
The Educators: Series 2: Character LessonsAvailable for over a year
Wild Weather with Richard Hammond: Temperature: The Driving ForceAvailable until Thursday, 24th December 2015 01:35
Ireland with Simon Reeve: Episode 1Available until Thursday, 24th December 2015 00:45
What is the 2015 Autumn Statement all about?The OU's Alan Shipman offers a guide to the things to watch for when George Osborne presents his... Read more: What is the 2015 Autumn Statement all about?
OpenLearn Live: 24th November 2015Part of Ireland that started out by the South Pole. Then more free learning through the day. Read more: OpenLearn Live: 24th November 2015
Early years team work and leadershipThis unit explores aspects of teamwork and leadership for early years practitioners. Try: Early years team work and leadership now
English: skills for learningThis course is for anybody who is thinking of studying for a university degree and would like to... Try: English: skills for learning now
Innovation, markets and industrial change
How does a firm emerge as ‘leader of the pack’? Why do most of the small firms so...
How does a firm emerge as ‘leader of the pack’? Why do most of the small firms so common in the early years of new industries disappear? This unit looks at how and why change occurs through the industry life cycle, at the role of innnovation and at how production costs, demand and technology interact to shape industrial structure.
After studying this unit you should be able to:
- appreciate the importance of technological change, costs of production and consumer preferences to the changing organisation of production;
- understand the relation between the quantity demanded of a good and its price as represented by the demand curve;
- understand economic models of the relation between firms’ costs and output;
- analyse the role of technology and costs in influencing industry structure over the life cycle.
- Current section: Introduction
- Learning outcomes
- 1 Technological change, demand and costs
- 2 Market demand
- 3 Firms, costs and technology
- 4 Technological change and industrial structure
- 4.1 Introduction
- 4.2 The industry life cycle
- 4.3 Industrial dynamics: knowledge and network industries
- 5 Conclusion
- 6 Questions for review and discussion
Study this free course
Enrol to access the full course, get recognition for the skills you learn and track your progress. Make your learning visible!
Innovation, markets and industrial change
This unit looks at the role of innovation in the development of industries and considers how production costs change as sales increase and as new technology is introduced into the production process. It looks at the relation between consumer demand for a good and that good's price, and at how the relation between output and production costs in different markets can dramatically affect industry structure. In describing these issues, the unit introduces the range of activities that constitutes economics: formulating theories, modelling, debate and persuasion, analysis of data, understanding the behaviour of economic institutions such as companies and households, and analysing economic processes. It also seeks to show how all of these economic techniques can be used to build up a rich understanding of innovation and economic change.
This material is from our archive and is an adapted extract from DD202 Economics and economic change, which is no longer taught by The Open University. If you want to study formally with us, you may wish to explore other courses we offer in this.
This is an extract from an Open University course which is no longer available to new students. If you found this interesting you could explore more free Sociology courses or view the range of currently available OU Sociology courses.
Copyright & revisions
Originally published: Tuesday, 4th February 2014
Last updated on: Tuesday, 4th February 2014
- Creative-Commons: The Open University is proud to release this free course under a Creative Commons licence. However, any third-party materials featured within it are used with permission and are not ours to give away. These materials are not subject to the Creative Commons licence. See terms and conditions. Full details can be found in the Acknowledgements section.
- This site has Copy Reuse Tracking enabled - see our FAQs for more information.
If you enjoyed this, why not follow a feed to find out when we have new things like it? Choose an RSS feed from the list below. (Don't know what to do with RSS feeds?)
Remember, you can also make your own, personal feed by combining tags from around OpenLearn.