COLUMBIA UNIVERSITY | ECON W4321 FINAL EXAMINATION (FALL 2026) TOTAL MARKS: 100
COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK
DEPARTMENT OF ECONOMICS — COLUMBIA BUSINESS SCHOOL
COURSE: ECON W4321 — ECONOMICS OF INNOVATION & GROWTH
Term: Fall 2026 Exam Type: Final Examination Time Allowed: 120 Minutes
Total Marks: 100 Marks (5
Total Questions: 20 Questions Marks/Question) Lecturer: Prof. E. R. Harrison
STUDENT NAME: ____________________________________ STUDENT ID: ________________________
INSTRUCTIONS: Answer all 20 multiple-choice questions. Select the single best answer for each question based strictly
on the course literature. Each question is worth 5 marks (Total: 100 Marks).
Question 1 (5 Marks): According to the course literature, what is the precise relationship and
distinction between creativity and innovation in an economic or corporate organization?
(A) Innovation is the mental generation of novel ideas, whereas creativity is the financial monetization of those
ideas.
(B) Creativity requires strong organizational systems, whereas innovation can occur spontaneously without
structural support.
✔ (C) Creativity is the ability to come up with new and useful ideas, while innovation is the practical
application and use of those ideas.
(D) An organization can only achieve high innovation if it maintains low individual creativity and high
standardization.
Rationale (Fall 2026 Exam Key): Creativity is defined as the ability to generate new, useful ideas, while innovation is the
application and use of that creative ability. The text notes that an organization can have high creativity without innovation
if motivation or proper organizational systems are lacking.
Question 2 (5 Marks): How do behavioral personality tests differ from self-rated personal assessments
according to the cognitive profiling material?
✔ (A) Behavioral tests report on an individual's behavior as observed by others (such as in a 360-degree
evaluation), whereas personal assessments rely on self-rating.
(B) Behavioral tests measure intelligence quotients, whereas personal assessments measure emotional stability.
(C) Personal assessments are evaluated by external psychological gurus, whereas behavioral tests are
exclusively self-administered.
(D) Personal assessments are used solely for job terminations, whereas behavioral tests are used for salary
negotiations.
Rationale (Fall 2026 Exam Key): Personal assessments involve individuals rating themselves on a set of survey
questions, whereas behavioral personality tests report on a person's behavior as observed by others, commonly
conducted via 360-degree evaluations involving superiors, peers, and subordinates.
Confidential — Columbia University Examination Office Page 1 Fall 2026 Term
, COLUMBIA UNIVERSITY | ECON W4321 FINAL EXAMINATION (FALL 2026) TOTAL MARKS: 100
Question 3 (5 Marks): What specific material and origin characterize the 'Coral Reef Printers'
innovation designed to restore endangered marine ecosystems?
(A) They utilize recycled plastic filaments developed by commercial 3D printing vendors in the UK.
(B) They use titanium alloy structures manufactured by the UK Space Agency.
(C) They deploy synthetic silicone gels engineered by Oxford University.
✔ (D) They utilize porous terracotta clay favored by coralline algae, based on technology from the
Technion Institute of Technology.
Rationale (Fall 2026 Exam Key): Coral Reef Printers construct artificial reefs using terracotta clay—chosen because it is
porous and favored by coralline algae—rather than traditional commercial plastic filaments, and the technology was
developed by the Technion Institute of Technology.
Question 4 (5 Marks): What specific event inspired Trevor Baylis to invent the battery-free wind-up
radio prototype in under 30 minutes?
(A) Reading a commercial report on the high price of alkaline batteries in European markets.
✔ (B) Watching a documentary about how the lack of schooling in Africa was contributing to the spread
of AIDS.
(C) Experiencing a nationwide electrical blackout during a broadcast in the United Kingdom.
(D) Attending an international academic conference on renewable military communications.
Rationale (Fall 2026 Exam Key): Trevor Baylis conceived the battery-free wind-up radio after watching a documentary
on how the lack of schooling in Africa was facilitating the spread of AIDS, completing his working prototype in under 30
minutes.
Question 5 (5 Marks): According to the text, why is the Myers-Briggs Type Indicator (MBTI) considered
particularly effective for workplace team management?
(A) It provides an absolute mathematical measurement of employee productivity and technical IQ.
(B) It forces all team members to adopt identical problem-solving techniques regardless of personal background.
✔ (C) It illuminates natural thinking styles, helping managers adapt leadership and build cognitive
diversity across teams.
(D) It guarantees that all administrative errors and organizational conflicts will be eliminated immediately.
Rationale (Fall 2026 Exam Key): MBTI provides insights into natural thinking styles and interpersonal interactions,
allowing managers to tailor management approaches and construct teams rich in cognitive and experiential diversity.
Question 6 (5 Marks): Which leadership approach is identified in the course material as most effective
for fostering individual and team creativity?
✔ (A) An indirect leadership style that creates a supportive learning environment with balanced control.
(B) A strict authoritarian leadership style focused strictly on rigid process enforcement.
(C) A completely hands-off approach that eliminates all organizational goals and boundaries.
(D) A transactional leadership model based solely on immediate monetary penalties for mistakes.
Rationale (Fall 2026 Exam Key): Effective leadership for creativity is indirect—shaping a social setting that encourages
learning and innovative thought, maintained alongside balanced control to keep creative efforts aligned with
organizational goals.
Confidential — Columbia University Examination Office Page 2 Fall 2026 Term
COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK
DEPARTMENT OF ECONOMICS — COLUMBIA BUSINESS SCHOOL
COURSE: ECON W4321 — ECONOMICS OF INNOVATION & GROWTH
Term: Fall 2026 Exam Type: Final Examination Time Allowed: 120 Minutes
Total Marks: 100 Marks (5
Total Questions: 20 Questions Marks/Question) Lecturer: Prof. E. R. Harrison
STUDENT NAME: ____________________________________ STUDENT ID: ________________________
INSTRUCTIONS: Answer all 20 multiple-choice questions. Select the single best answer for each question based strictly
on the course literature. Each question is worth 5 marks (Total: 100 Marks).
Question 1 (5 Marks): According to the course literature, what is the precise relationship and
distinction between creativity and innovation in an economic or corporate organization?
(A) Innovation is the mental generation of novel ideas, whereas creativity is the financial monetization of those
ideas.
(B) Creativity requires strong organizational systems, whereas innovation can occur spontaneously without
structural support.
✔ (C) Creativity is the ability to come up with new and useful ideas, while innovation is the practical
application and use of those ideas.
(D) An organization can only achieve high innovation if it maintains low individual creativity and high
standardization.
Rationale (Fall 2026 Exam Key): Creativity is defined as the ability to generate new, useful ideas, while innovation is the
application and use of that creative ability. The text notes that an organization can have high creativity without innovation
if motivation or proper organizational systems are lacking.
Question 2 (5 Marks): How do behavioral personality tests differ from self-rated personal assessments
according to the cognitive profiling material?
✔ (A) Behavioral tests report on an individual's behavior as observed by others (such as in a 360-degree
evaluation), whereas personal assessments rely on self-rating.
(B) Behavioral tests measure intelligence quotients, whereas personal assessments measure emotional stability.
(C) Personal assessments are evaluated by external psychological gurus, whereas behavioral tests are
exclusively self-administered.
(D) Personal assessments are used solely for job terminations, whereas behavioral tests are used for salary
negotiations.
Rationale (Fall 2026 Exam Key): Personal assessments involve individuals rating themselves on a set of survey
questions, whereas behavioral personality tests report on a person's behavior as observed by others, commonly
conducted via 360-degree evaluations involving superiors, peers, and subordinates.
Confidential — Columbia University Examination Office Page 1 Fall 2026 Term
, COLUMBIA UNIVERSITY | ECON W4321 FINAL EXAMINATION (FALL 2026) TOTAL MARKS: 100
Question 3 (5 Marks): What specific material and origin characterize the 'Coral Reef Printers'
innovation designed to restore endangered marine ecosystems?
(A) They utilize recycled plastic filaments developed by commercial 3D printing vendors in the UK.
(B) They use titanium alloy structures manufactured by the UK Space Agency.
(C) They deploy synthetic silicone gels engineered by Oxford University.
✔ (D) They utilize porous terracotta clay favored by coralline algae, based on technology from the
Technion Institute of Technology.
Rationale (Fall 2026 Exam Key): Coral Reef Printers construct artificial reefs using terracotta clay—chosen because it is
porous and favored by coralline algae—rather than traditional commercial plastic filaments, and the technology was
developed by the Technion Institute of Technology.
Question 4 (5 Marks): What specific event inspired Trevor Baylis to invent the battery-free wind-up
radio prototype in under 30 minutes?
(A) Reading a commercial report on the high price of alkaline batteries in European markets.
✔ (B) Watching a documentary about how the lack of schooling in Africa was contributing to the spread
of AIDS.
(C) Experiencing a nationwide electrical blackout during a broadcast in the United Kingdom.
(D) Attending an international academic conference on renewable military communications.
Rationale (Fall 2026 Exam Key): Trevor Baylis conceived the battery-free wind-up radio after watching a documentary
on how the lack of schooling in Africa was facilitating the spread of AIDS, completing his working prototype in under 30
minutes.
Question 5 (5 Marks): According to the text, why is the Myers-Briggs Type Indicator (MBTI) considered
particularly effective for workplace team management?
(A) It provides an absolute mathematical measurement of employee productivity and technical IQ.
(B) It forces all team members to adopt identical problem-solving techniques regardless of personal background.
✔ (C) It illuminates natural thinking styles, helping managers adapt leadership and build cognitive
diversity across teams.
(D) It guarantees that all administrative errors and organizational conflicts will be eliminated immediately.
Rationale (Fall 2026 Exam Key): MBTI provides insights into natural thinking styles and interpersonal interactions,
allowing managers to tailor management approaches and construct teams rich in cognitive and experiential diversity.
Question 6 (5 Marks): Which leadership approach is identified in the course material as most effective
for fostering individual and team creativity?
✔ (A) An indirect leadership style that creates a supportive learning environment with balanced control.
(B) A strict authoritarian leadership style focused strictly on rigid process enforcement.
(C) A completely hands-off approach that eliminates all organizational goals and boundaries.
(D) A transactional leadership model based solely on immediate monetary penalties for mistakes.
Rationale (Fall 2026 Exam Key): Effective leadership for creativity is indirect—shaping a social setting that encourages
learning and innovative thought, maintained alongside balanced control to keep creative efforts aligned with
organizational goals.
Confidential — Columbia University Examination Office Page 2 Fall 2026 Term
