Course Code & Number
ECON 422
Course Title
Institutional Economics
Level
BS
Credit Hours/ ECTS Credits
(3+0+0) 3 TEDU Credits, 6 ECTS Credits
Year of Study:
Senior
Semester:
Spring
Type of Course:
Elective
Mode of Delivery:
Face-to-face
Language of Instruction:
English
Pre-requisite / Co-requisite::
Pre-requisites: NONE
Co-requisites: NONE
Catalog Description
Institutions and institutional change. Analyses of cooperation, behavioral assumptions in a theory of institutions. Transaction costs and constraints. Institutions and economic performance.
Course Objectives
The aim of this course is to introduce students an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time.
Course Learning Outcomes
Upon succesful completion of this course, a student will be able to
1. Explain the nature of institutions and the role of transaction and production costs in their development.
2. Analyze cooperation and behavioral assumptions in institutions theory.
3. Clarify the factors effecting the institutions in the economy.
4. Discuss the role of institutional change in development.
5. Explains how institutional development may lead to a path-dependent pattern of development.