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Module 5 Resources: Innovation, Technology, and Growth

Interactive Simulations (McCreary)

These browser-based simulations let you explore Module 5 concepts hands-on. All simulations are from Dan McCreary's Introduction to Economics (CC BY-NC-SA 4.0).

Simulation What It Teaches Try It
Network Effects Visualizer Add users to a network and see how value grows non-linearly with each new connection Open
Platform Economics Simulator Balance supply and demand on a two-sided marketplace; see how tipping points emerge Open
Compound Interest Visualizer Adjust growth rates and time horizons to see how small differences compound into large gaps Open
Nominal vs. Real GDP Adjust for inflation and see why economists insist on real GDP for comparing across years Open
Attention Economy Calculator Explore how digital platforms compete for your time and how attention becomes a scarce resource Open

Economist Stories (McCreary)

Biographical narratives of economists whose work connects to this module's themes.

Economist Key Insight Read It
Lisa Cook — Innovation and Barriers How racial violence suppressed African-American invention, showing that who gets to innovate matters as much as how Open

Textbook Readings

Book Relevant Chapters / Sections
Chang, H.-J. (2014). Economics: The User's Guide Ch. 6: How has the economy grown? Output, productivity, and technology
Wheelan, C. Naked Economics Ch. 7: Productivity and Human Capital; Ch. 12: Trade and Technology
Varoufakis, Y. Talking to My Daughter About the Economy Ch. 5: Technology and the future of work
Warsh, D. (2006). Knowledge and the Wealth of Nations The story of Paul Romer's new growth theory and why ideas drive prosperity
Lewis, M. (2003). Moneyball: The Art of Winning an Unfair Game The full story behind the film — innovation, market inefficiency, and creative destruction in baseball
Langlois, R. N. Economics Through Film (UConn) Moneyball unit: entrepreneurship, innovation, labor economics

Videos

  1. "Moneyball — Economics of Sports Analytics" — YouTube, ~12 min. Explains the economic logic behind sabermetrics and its parallels to productivity measurement.
  2. Robert Solow's Nobel Prize Lecture (1987) — nobelprize.org, ~45 min. Solow explains the growth model and the technology residual in his own words.
  3. "Why Are Some Countries Rich and Others Poor?" — Marginal Revolution University, ~10 min. Concise introduction to the Solow model, capital accumulation, and the role of institutions.
  4. "India's UPI Revolution Explained" — YouTube, ~15 min. How India built the world's largest real-time digital payment system, illustrating network effects and platform economics.
  5. "Creative Destruction: Schumpeter Explained" — Economics Explained, YouTube, ~12 min. An accessible introduction to Schumpeter's theory with modern examples.

Indian Context

  • Digital India — UPI, Aadhaar, and the digital infrastructure revolution as examples of network effects and platform economics at national scale
  • India's Informal Economy — why GDP understates India's economic activity and what the informal sector means for measuring productivity and growth

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