Wissen und innovation als grundlage für wirtschaftliche entwicklung
Knowledge and innovations as the basis of economic development

Summary/Abstract: The article is dedicated to the new approaches and significance of knowledge and innovations in the economic development ofsociety. The author illustrates interconnection between the education and practical training of the specialists; shows that the newknowledge supports the technical process, and economy of knowledge ensures the social development. Concept of society showsthe role of knowledge and innovations in the economic development and ensures considerable growth of GDP and social changes inthe global economy.Economy changed due to innovations in the technologies, globalization and business. Due to new knowledge economy complieswith the new realities, new concept of the national economic policy is oriented at the development of competitiveness, economicglobalization and cooperation. Universities play important role in the formation of knowledgeable society and development ofinnovations, increasing competitiveness of students on the international labor markets. University functioning in cooperation with thecompanies and enterprises is very effective.Practical meaning of this article lies in the generalization of significance of knowledge and innovations in the economicdevelopment of society. This will assist in determining the priorities of education and innovation activities in the concepts of economicdevelopment.

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