B5730 - THE ECONOMICS OF ENTREPRENEURSHIP

Learning outcomes

The course aims to achieve three main educational objectives, providing an overview of the economic determinants and effects of industrial dynamics within the most suitable regulatory framework to promote 'productive' (innovative) entrepreneurship. With the first objective, students acquire an in-depth understanding of economic theories related to competitive selection, survival, and growth of new firms. With the second objective, they become familiar with the knowledge necessary to conduct quantitative analyses of the entrepreneurial process. With the third objective, they develop the competence required to formulate and evaluate economic policies that are best suited to facilitating the functioning of the competitive selection mechanism.

Course contents

The course provides the fundamentals of the economic analysis of entrepreneurship. At the end of the course students will gain an understanding of the determinants of entrepreneurship,  the impact of new firms on the economic system, and the design and implementation of entrepreneurship policies.

Readings/Bibliography

Reference handbook:

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

Readings/Bibliography:

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;

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

Isenberg, D. J. (2010). How to Start an Entrepreneurial Revolution. Harvard Business Review, 88(6): 2-11;

Leendertse, J., Schrijvers, M., & Stam, E. (2021). Measure Twice, Cut Once: Entrepreneurial Ecosystem Metrics. Research Policy, 51: 104336;

 

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., Audretsch, D.B., Braunerhjelm, P. & 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;

Lotti, F., Santarelli, E. & Vivarelli, M. (2009). Defending Gibrat'sLaw as a Long-run Regularity. Small Business Economics, 32(1). 31-44.

Teaching methods

Lectures; Class discussion.

Assessment methods

Final written exam: 12 questions in the following format: 50% multiple-choice tests; 50% short-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