AØKK08199U Economic Value Creation and Innovation

Volume 2013/2014
MSc in Economics

This course investigates the drivers of value creation and innovation from an informal and practical perspective. What is the role of the entrepreneur in innovation and economic growth? What processes may drive value creation? What role should the government play in fostering innovation and value creation and what is entrepreneurial capitalism? Does innovation create resources and if so how? What institutional frameworks may best foster value creation at the venture, enterprise and macro levels? What practices have developed in driving value creation? Is there a role to be played for the individual in value creation? How is economic value creation measured and is it different from customer utility? What methodologies have innovators developed and what may be learned from those individuals, ventures and enterprises? How do companies grow and why? Are there common patterns, methodologies and tools in economic value creation that may apply to different circumstances, business models, technologies and environments?

The course will partly draw from live business case and projects in collaboration with corporate and institutional partners.

Learning Outcome

This course builds mainly on the practical application of economic and institutional insights into the processes, institutional setup, governance and cultural drivers of “creative destruction.” The course provides perspectives on key issues related to economic value generation and innovation. The exam paper tests the students’ abilities at a graduate level to independently apply insights from economics, finance and business economics discussed during the course class sessions and in the course literature to either specific business cases and/or industries and/or to relevant public policy issues such as regulation, institutional regimes and/or to governance and management at the micro level. In order to excel, the student must excel in framing, structuring and analyzing the topic of her/his choice within the required framework (as for seminar papers).

Prior training in applied economics, finance and business topics that may have been acquired from courses such Business Economics, Corporate Finance and Incentives, Private Equity, Entrepreneurship, Corporate Governance, Industrial Organization, Managerial Accounting, Organization Theory and Strategic Management. Experience from knowledge- or technology based environments or other value creating ventures might be beneficial, as the course will build on real world challenges and opportunities including live cases from participating corporate partners. Students may write exam papers in teams of up to four.
The course is structured as 3-hour (once a week) class sessions per week for 10 weeks.

Class sessions will combine some informal theoretical input and practical applications to stimulate class discussion and active participation by students. Guest speakers will include Danish and international entrepreneurs, industry experts, partner universities and regulators.

Students work on individual examination papers for a duration of approximately six weeks following the class sessions.
  • Category
  • Hours
  • Exam
  • 100
  • Lectures
  • 30
  • Preparation
  • 76
  • Total
  • 206
7,5 ECTS
Type of assessment
Written assignment
Take home paper. Topic of own choice related to learning outcome, approved by instructor. Teams of two students may write jointly. Exam paper rules as for economic seminars apply. For detailed requirements, see the latest version of the Student Handbook section on seminars
All aids allowed
Marking scale
7-point grading scale
Censorship form
External censorship
Exam period
Approximately 6 weeks allocated for writing exam papers after completion of lecture series. Exam paper submission date will be updated before the start of the semester
Same as ordinary. In case only a few students register for any re-exam, the re-exam might change to an oral exam with a synopsis to be handed in prior to the examination date. This means the examination date also might change.
Criteria for exam assesment

The student must in a satisfactory way demonstrate that she/he has mastered the learning outcome of the course. If part of team, each participant’s contribution must be clearly identifiable.