This book examines technology through economic perspectives, covering theoretical foundations, market structures, and innovation processes. It analyzes classical and contemporary economic thought on technological change, patent systems, and diffusion patterns. The study explores technology's role in development, particularly in developing countries, examines public-funded research and knowledge transfer mechanisms and includes: Detailed study of patent economics including intellectual property rights, optimal patent design, and system limitations Analysis of technological diffusion patterns, adoption strategies, and network externalities in competitive markets Investigation of technology's role in economic development with focus on developing countries and capability building Assessment of public-funded research economics and university-industry knowledge transfer mechanisms Case study of India's technological trajectory and emergence in the global knowledge economyThe book concludes with India's technological trajectory and emergence in the global economy, providing insights into policy implications and future directions.This title has been co-published with Social Science Press. Taylor & Francis does not sell or distribute the print edition in India, Sri Lanka, Nepal, Bangladesh, Pakistan, and Bhutan.