Entrepreneurship in Economics
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Division: The New School for Public Engagement
School: School of Undergraduate Studies
Department: Social Sciences
Course Number: NECO 2810
Course Format: Lecture
Location: NYC campus
Permission Required: No
Entrepreneurship has, for long, centered the imagination of theoreticians and policy makers alike as a central tenet to economic progress. However, it did not become part of economic modeling until the work of Schumpeter in twentieth century. His methods created a school of thought in economics (Austrian School) but failed to catch the attention of main stream economics until the middle of last century. Since then, entrepreneurship has been accepted as the fourth factor of production and primary source of impetus to economic growth. This course will attempt at formalizing the role of an entrepreneur in economic models. The course will take stock of how innovation is related to entrepreneurship and how it has been dealt with in traditional economic theory. A formal model of innovative entrepreneurship will be developed, and market structure for it will be discussed. Data analytical techniques will be utilized to; a) show how and why innovations at the “main street” are so important for development of any economy and, b) to give participants a useful technique that is commonly used in analytical jobs and hence will add value to participant’s resume’ / CVs.