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OpenLearn

Innovation, markets and industrial change

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Overview

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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 free course, Innovation, markets and industrial change, looks at how and why change occurs through the industry life cycle, at the role of innovation and at how production costs, demand and technology interact to shape industrial structure.

Syllabus

  • Introduction
  • Learning outcomes
  • 1 Technological change, demand and costs
  • 1 Technological change, demand and costs
  • 2 Market demand
  • 2 Market demand
  • 2.1 Industry and markets: what do we mean?
  • 2.2 Market demand and price
  • 2.3 Other influences on market demand
  • 3 Firms, costs and technology
  • 3 Firms, costs and technology
  • 3.1 Introduction
  • 3.2 Technology and costs in the short run
  • 3.3 Long-run costs and economies of scale
  • 4 Technological change and industrial structure
  • 4 Technological change and industrial structure
  • 4.1 Introduction
  • 4.2 The industry life cycle
  • 4.2.1 Figure 9a: A selection of 35 mm SLR film cameras
  • 4.2.2 Figure 9b: A selection of 35 mm digital cameras
  • 4.3 Industrial dynamics: knowledge and network industries
  • 4.3.1 Knowledge and learning in the industry life cycle
  • 4.3.2 Network externalities and increasing returns to scale
  • 5 Conclusion
  • 5 Conclusion
  • 6 Questions for review and discussion
  • 6 Questions for review and discussion
  • References
  • Acknowledgements

Reviews

5.0 rating, based on 1 Class Central review

5 rating at OpenLearn based on 4 ratings

Start your review of Innovation, markets and industrial change

  • Profile image for Enrique Enriquez
    Enrique Enriquez @EEnriquez
    20
    This course provided a rigorous examination of the forces driving industrial evolution, focusing on the interplay between technological change, market demand, and production costs. Grasping the principles of general-purpose technologies, economies of scale, and the industry life cycle model furnishes a powerful lens for understanding market dynamics and firm behavior. This foundational knowledge is directly applicable to roles in strategic planning, market analysis, and operational management, enabling a professional to critically assess how innovation influences costs, competitive advantage, and overall industrial structure.
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