Innovation drives growth and job creation in modern economies. New knowledge on which innovation is based often derives from scientific research. Understanding the economics of science and the processes in which new scientific knowledge is transferred to the economy is therefore of major importance to explain and possibly improve innovation performance. At the same time, knowledge is a good with rather unusual economic properties, which raises various types of externality and incentive problems. With the system of Open Science, a specific set of institutions has developed over time to address these issues. Studying Open Science therefore helps economists to better understand the working of competitively self-governing societal subsystems outside the sphere of traditional markets. It is therefore little surprising that a burgeoning literature deals with the economics of science. The course will provide an introduction into this literature.