QUESTION 2 2.a) Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them (5 points). Why can we say that innovation has a ‘systemic’ nature? (3 points). 2.b) Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development (3 points). Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy (5 points). 2 2.c) Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries (9 points). FIGURE 1:United States35000Education systemIrelandeNorwayLiteracyPrimary leacher/pupilSecondary enrolmentTertiary cnrolment0.78R2 = 0,69(0,750.88Switzerland30000Austria. NetherlandsxCanadaDenmarkBelgiumAustraliaFinlandSweden0.88United Kingdom."Japan FranceGermany Italy% of lotal variance67,725000Singapore SpainIsraelNew Zealand20000Taiwan Grecce* Portugal.CzechiRep. Korea•Slovenia15000•HungarySlovakja.Saudi Arabia-South AfricaA Malaysia xhileMexicoxIran Turkey BraArgepiha Estonia• Poland• Lithuania•LatviaRussiaCroatia10000Uruguay•BulgariaBelarusUkraineAlgeria a5000PakistanTanzaniaChinaMorocco A IndiazimbabeJordanArnenia„GeorgiaKyrgyzstanNigoriaAKenyaIndonesiaVietnamMoldova-3.0-2.5-2.0-1.5-1.0-0.50.00.51.01.52.0Education systemEurope × North & South America I Asia & Oceania A AfricaFigure 4.2GDP per capita and education system over 2000 2004GDP per capita

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QUESTION 2 2.a) Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them (5 points). Why can we say that innovation has a ‘systemic’ nature? (3 points). 2.b) Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development (3 points). Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy (5 points). 2 2.c) Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries (9 points).

QUESTION 2 2.a) Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them (5 points). Why can we say that innovation has a ‘systemic’ nature? (3 points). 2.b) Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development (3 points). Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy (5 points). 2 2.c) Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries (9 points).

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.15P

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