96877 - THE ECONOMICS OF ENTREPRENEURSHIP

Learning outcomes

At the end of the module, students: - achieve an in-depth knowledge of the theories of new firm formation and firm internal and external growth, of the relationship between choice of financial model and R&D investment, and of the most innovative sources of financing from a comparative perspective; - gain a good command of the use of qualitative and quantitative data for the analysis of innovative activities and of the techniques to support the choice of financial strategies within organizations.

Course contents

The course provides the fundamentals of the economics of entrepreneurship, from the perspective of both new firms and policy makers.

Readings/Bibliography

Simon C. Parker (2018). The Economics of Entrepreneurship. Cambridge University Press, 2nd edition.

Baumol, W. J. (1996). Entrepreneurship: Productive, Unproductive, and Destructive. Journal of Business Venturing, 11(1): 3-22.

Carbonara, E. & Santarelli, E. (2023). The Impact of Constitutional Protection of Economic Rights on Entrepreneurship: A Taxonomic Survey. Foundations and Trends® in Entrepreneurship,19(2):126–223.

Carbonara, E., Tran, H. T., & Santarelli, E. (2020). Determinants of Novice, Portfolio, and Serial Entrepreneurship: An Occupational Choice Approach. Small Business Economics, 53(1): 12-151.

Carbonara, E., Tran, H.T. & Santarelli, E. (2016). De Jure Determinants of New Firm Formation: How the Pillars of Constitutions Influence Entrepreneurship. Small Business Economics, 47(1): 139-162;

Acs, Z. J., D. B. Audretsch, P. Braunerhjelm & B. Carlsson (2009). The Knowledge Spillover Theory of Entrepreneurship. Small Business Economics, 32(1): 15-30;

Acs, Z.J., Estrin, S., Mickiewicz, T. & Szerb, L. (2018). Entrepreneurship, Institutional Economics, and Economic Growth: An Ecosystem Perspective. Small Business Economics, 51(2): 501-514.

Koellinger, P. D. & Thurik, A. R. (2012). Entrepreneurship and the Business Cycle. Review of Economics and Statistics, 94(4): 1143-1156.

Teaching methods

Lectures, class discussion, courseworks.

Assessment methods

Students who choose to actively participate in the course will take a two-part exam, and the grade obtained in each part will contribute 50% to the final grade. The first part (coursework) involves preparing a 10-15 minute video in which the strengths and weaknesses of a research paper published in an international scientific journal are presented and discussed. Each video will be created in collaboration by at least two students. The papers will be made available to the students at the beginning of the course. The second part consists of a written final exam in which students will have to answer 5 out of 8 (both open-ended and multiple-choice) questions.

For students unable to attend the classes, the final exam will consist of 8 open-ended questions and 4 multiple-choice questions that they will have to answer.

Grading criteria:

18-23: the student has sufficient preparation and analytical skills, spread however, over just few topics taught in the course, the overall jargon is correct

24-27: the student shows and adequate preparation at a technical level with some doubts over the topics. Good, yet not to articulate analytical skills with the use of a correct jargon

28-30: Great knowledge about most of the topics taught in the course, good critical and analytical skills, good usage of the specific jargon

30L: excellent and in depth knowledge of all the topics in the course, excellent critical and analytical skills, excellent usage of specific jargon.

Teaching tools

Other teaching material, including slides used during the lectures and papers will be made available to students on a weekly basis through the 'Virtuale' platform.

Office hours

See the website of Enrico Santarelli