Entrepreneurship and Innovation: Economic and Social Science Perspectives

ECON 1072 Subject & Catalog Number

Description

Entrepreneurship is increasingly recognized as a major driver of innovation and economic growth. At the beginning of 2026, for instance, nine of the eleven companies worldwide worth more than a trillion dollars were less than half a century old, with venture capital financing playing a key role in the growth of each. Venture-backed firms have introduced many of the most important new technologies into the market, from social media to vaccines to artificial intelligence, with profound effects (for better or worse) on social interactions and employment opportunities.

Meanwhile, the way in which innovation has been developed—with a heavy reliance on universities and large corporate labs—is being profoundly questioned. Many companies are cutting back on centralized research facilities, arguing that they have not justified their costs. Across the West, university research has been under attack, with the limited commercial returns often being used to justify spending cuts (whether due to the politicization of science or long-standing incentive schemes remains under debate).

Entrepreneurship and Innovation: Economic and Social Science Perspectives (EIESP) explores scholarly work from economics and other social science disciplines regarding entrepreneurship—the formation and growth of new firms—and its relation to technological innovation. While work on this topic dates as far back as Joseph Schumpeter’s 1911 book, academic research regarding entrepreneurship has expanded rapidly over the last decade.

This class is intended for students interested in these phenomena and their implications. While the bulk of the readings will primarily draw from economics journals, we will also explore works in related disciplines. The course is designed to be accessible to students pursuing a variety of majors, as long as they have had exposure to basic economics (e.g., AP Economics or Ec10a).