Mathematical models play an increasingly important role in economic science.
The modules covering the basic eight-week programme illustrate some of the models describing the impact of technological change on society. This extension module is not so much concerned with the impact of technology on other phenomena, but instead covers the modelling of technology itself. It thus provides a unique economic perspective on the process of innovation, which can be confronted with the picture of technological change painted by other disciplines, such as the history of technology, or technology from a policy maker's point of view. At a higher level of aggregation, this module deals with the theories that have attempted to describe the process of innovation diffusion.