Research course

Industrial economics: innovation and industrial evolution

Open University · Department of Economics

Entry requirements

Minimum 2:1 (or equivalent), with masters degree preferred

Months of entry


Course content

The Economics Department has built up, since the 1990s, an innovative specialism in industrial economics – notably in the leading-edge field of evolutionary industrial theory and its implications for industrial and regulatory policy. The department’s expertise is acknowledged to have been one key element in the winning of the ESRC Innogen research centre, and the continuation of the Innogen Institute which includes several members of the department. The department took the lead in building up cross-faculty expertise in industrial development and innovation through the IKD research centre, which brings together innovation researchers in health, human capabilities and finance.

The current group of industrial economists in the department research the topics of industrial dynamics, industrial development, industrial finance and the implications of technical change, as well as the relationships and processes of finance and innovation.

Potential supervisors

Department specialisms

Topics could include: Industrial development and innovation Evolutionary economics and theory of development Financial markets and innovation Innovation theory and models of innovation Firm capabilities, growth and innovation systems (national, regional or sectoral) Health, innovation and equity Finance, innovation and development Financialisation and innovation Studies of pharmaceutical, biotechnology, environment and renewables firms and industries.

Fees and funding

Please see The Open University website

Qualification and course duration


part time
72 months
distance learning
variable months
full time
36 months


distance learning
variable months
part time
24 months
full time
15 months

Course contact details

+44 (0)1908 654456