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26043 Economics of New Ventures and Innovation, 5 cr 
Code 26043  Validity 01.01.1950 -
Name Economics of New Ventures and Innovation  Abbreviation EconNewVent,Hki 
Credits5 cr  Date of expiry 10 years
TypeAdvanced studies Subject260 Economics 
KindCourse  Hours  
Study right   GradingStandard Scale 
Recommended time 
Organisation Economics, Helsinki 

Hyytinen, Ari 

Course Description 

This course aims to provide students with an overview of how new ventures and innovations come about, how the two are linked, as well as the strategic choices and risks that (would-be) entrepreneurs and innovators face. We also consider the financing of innovative and entrepreneurial endeavours, and the implications that entry and innovative activities have at micro- and macroeconomic level (e.g., in terms of job creation, R&D, and creative destruction).

Doctoral students can also take this course. 

Learning Goal 

You have the capacity to identify the economic forces and processes that drive the creation of innovative new ventures as well as their post-entry growth trajectories and risk profiles (survival).

After completing the course, you will be able to 
  • analyse dynamic markets (characterized, e.g., by a high degree of new entry and firm turnover) and R&D-intensive industries from a microeconomic perspective
  • identify strategic choices and risks that entrepreneurs and innovators and their financiers face
  • evaluate entrepreneurial decision-making and public policies targeted at innovative new ventures
Course Category 

Class-based course

International Learning Experience 

We will study international markets / use international data set.


You should be familiar with basic concepts in economics and econometrics. It is recommended that before taking this course, you have completed a course in intermediate microeconomics and a course on econometrics. 

Total Student Workload 

134 hours divided into
Scheduled (contact) hours: 30 h (24 h lectures + 6 h exercises)
Non-scheduled work: 104 h


Lectures + exercises.
Kindly note that you are expected to be present at the first lecture session to confirm your participation in the course.

Literature and Course Material 

Readings (e.g. journal articles) as assigned by the lecturer


Course assignment OR Exam (40%)
Exercices / written reports (40%)
Active lecture participation (20%)

Non-degree studies (Open University, JOO and Contract Studies) 

Open university quota: 3
Quota for JOO-students: 3


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