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A History of Ideas - Buddhism's four Noble TruthsThursday, 2nd April 2015 12:04 - BBC Radio 4Naomi Appleton, Chancellor's fellow in Religious Studies at the University of Edinburgh, explores the Buddha's Four... Watch now: OU on the BBC: A History of Ideas - Buddhism's four Noble Truths
Joseph Fiennes on Romeo & JulietThursday, 2nd April 2015 20:00 - Sky Arts 1 HD
A History of Ideas - Ayn Rand and selfishnessFriday, 3rd April 2015 12:04 - BBC Radio 4
Thinking Allowed: Citizenship ceremonies and family tiesMonday, 6th April 2015 00:15 - BBC Radio 4
Thinking Allowed: Citizenship ceremonies and family tiesAvailable until Thursday, 31st March 2016 09:15Laurie Taylor and guests discuss studies into citizenship and the links between family ties and stories. Read more: Thinking Allowed: Citizenship ceremonies and family ties
OU on BBC: A History of Ideas - Ayn Rand and selfishnessMorality and selfishness sound like opposites - but not according to the Russian-American... Watch now: OU on BBC: A History of Ideas - Ayn Rand and selfishness
Take the photographic memory testCan you capture scenes just by looking at them? Find out with our photographic memory test. Launch now: Take the photographic memory test
The business of footballWelcome to this free new OpenLearn course produced by The Open University working in partnership... Try: The business of football now
Succeed with maths – Part 1[BETA] If you feel that maths is a mystery that you want to unravel then this short 8-week course... Try: Succeed with maths – Part 1 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
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 course units or view the range of currently available OU Sociology courses.