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This book offers an accessible yet rigorous introduction to the economics of intellectual property (IP) with a distinctive international focus, emphasizing that knowledge is a global public good, that IP policies have worldwide economic impacts, and that international institutions and agreements shape national IP regimes.The volume presents a non-technical, evidence-based analysis, moving from foundational topics - types of IP rights, data measurement, and core economic principles - to the North-South dynamics that drive global innovation. It then explores real-world applications across critical sectors: artificial intelligence, public health, agriculture and food security, creative industries, and secondary patent markets.Throughout, the discussion integrates case studies and empirical evidence, highlighting the inherent trade-offs in IP systems and their policy implications. Economics of Intellectual Property and R&D demonstrates how the impacts of IP rights depend on a country's level of technological development and economic circumstances. Designed for students and researchers in economics, business, law, and public policy, the book also serves as a reference for policymakers and IP practitioners.