The study of regions in economics is an old tradition whose value has recently been rediscovered with the advent of local competition for attractive industries as well as the increasing responsibility of local, state, and national governments for development issues. This course explores how economic activity is distributed across space and investigates the implications of including spatial aspects in economic analysis. This is an applied economics course in the intersection of economics and geography. Students develop critical thinking about economic development within regional spatial structures. They examine and compare regional economic systems in different parts of the world.

Upon completion of this unit, students will be able to:

CLO1. Knowledge: have deep insight in the relationship between innovation and regional Development and policy. The central aim is to provide a comprehensive insight into the relations between theories of economic development, endogenous end exogenous development processes and regional policy implementation.

CLO2. Skills: able to critically use theories and research results in the fields of entrepreneurship and innovation, and is able to formulate relevant research questions in relation to their own project.

CLO3. Regional Economic Development Frameworks: Michael Porter Models (5 forces, Diamond Model), Marshall (industrial Clusters), Foresight (Megatrends, Horizon scanning etc…)

CLO4. General Competence: have deeper insight in the mutual relationships between innovation, local- and regional development, restructuring processes, urban- and rural development and regional- and innovation policy.

Required Textbook

1. Roberta Capello, Regional Economics; Routledge Advanced Texts in Economics and Finance

Recommended Readings

1. Michael Porter, The competitive advantage of Nations, Free Press; Illustrated edition 1998

2. New York Stock Exchange www.nyse.com

3. Google Finance at http://www.google.com/finance

4. It is strongly recommend that students keep up to date with current issues in accounting by reading the following newspapers or articles from journal:

a) The business section of South China Morning Post

b) The business section of Standard Post

c) Journal of Finance

d) Journal of Corporate Accounting and Finance

e) Journal of Business

f)  Journal of Financial Economics