The aim of this course is to provide students with an understanding of institutional structures, behaviors, and the economic outcomes of institutions.
Course Content
This course contains; Introduction,Institutions, rules, and economic performance,Coase's theorem and transaction cost economics,Property rights theory,Transaction cost theory,Principal-agent relationships,Institutions and economic change,Tragedy of the commons,Institutions and economic development,Theories of institutional change,The relationship between law and economics,Emerging trends and challenges in institutional economics,The future of institutional economics,General Overview.
Dersin Öğrenme Kazanımları
Teaching Methods
Assessment Methods
1. Will be able to explain the role of Institutions in the economy.
9
A
1.1. Analyze historical development of institutions.
1.2. Explain how changes in economic institutions have influenced economic growth and development.
2. Will be able to apply the institutional economics theories to the real-world problems.
9
A
2.1. Explain transaction cost economics.
2.2. Explain agency theory.
3. Will be able to explain the role, effect and results of institutional change in political reforms
9
A
3.1. Explain the effects of institutional change on political reforms
3.2. Explain the effects of institutional change through political reforms on the economy.
4. Will be able to assess ongoing debates and research in institutional economics.
9
A
4.1. Evaluate academic literature and research findings in the field.
4.2. Engage in discussions on contemporary topics in institutional economics.
5. Will be able to apply institutional economics principles to policy analysis and decision-making.
9
A
5.1. Use institutional economics frameworks to assess the effectiveness of economic policies.
5.2. Formulate policy recommendations based on institutional economic analysis.
Teaching Methods:
9: Lecture Method
Assessment Methods:
A: Traditional Written Exam
Course Outline
Order
Subjects
Preliminary Work
1
Introduction
2
Institutions, rules, and economic performance
3
Coase's theorem and transaction cost economics
4
Property rights theory
5
Transaction cost theory
6
Principal-agent relationships
7
Institutions and economic change
8
Tragedy of the commons
9
Institutions and economic development
10
Theories of institutional change
11
The relationship between law and economics
12
Emerging trends and challenges in institutional economics
13
The future of institutional economics
14
General Overview
Resources
- Institutional Economics: An Introduction, Stefan Voigt, Cambridge University Press, 2019.
- The economic institutions of capitalism: Firms, markets, relational contracting, Oliver E. Williamson, Gabler, 2007.
Course Contribution to Program Qualifications
Course Contribution to Program Qualifications
No
Program Qualification
Contribution Level
1
2
3
4
5
1
(S)he describes theoretical knowledge in economics and finance.
X
2
(S)he explains mathematical and statistical methods needed for economics and finance.
3
(S)he uses at least one computer program utilized for economic and financial analyses (SPSS, Eviews, STATA, R ve MATLAB).
4
(S)he has the foreign language proficiency necessary for economics and finance.
X
5
(S)he develops projects in the field and handles team work.
6
(S)he develops (her) his awareness of lifetime learning, follows the developments in (her) his field and adopts a critical approach.
7
(S)he uses theoretical and practical knowledge on economics and finance.
X
8
(S)he delivers (her) his opinions by making effective use of modern technologies and of at least one foreign language at a minimum level of level C1.
9
(S)he adopts and uses organizational, corporate and social ethical values.
10
(S)he adopts principles of social responsibility and acts whenever needed in light of social service sensitivity.
11
(S)he analyzes and uses basic knowledge and data regarding different disciplines to conduct inter-disciplinary studies.
12
(S)he benefits from (her) his proficiency in economics and finance to make policy suggestions and contribute to the field.
X
Assessment Methods
Contribution Level
Absolute Evaluation
Rate of Midterm Exam to Success
40
Rate of Final Exam to Success
60
Total
100
ECTS / Workload Table
Activities
Number of
Duration(Hour)
Total Workload(Hour)
Course Hours
13
3
39
Guided Problem Solving
0
0
0
Resolution of Homework Problems and Submission as a Report
1
22
22
Term Project
0
0
0
Presentation of Project / Seminar
0
0
0
Quiz
0
0
0
Midterm Exam
1
40
40
General Exam
1
50
50
Performance Task, Maintenance Plan
0
0
0
Total Workload(Hour)
151
Dersin AKTS Kredisi = Toplam İş Yükü (Saat)/30*=(151/30)
5
ECTS of the course: 30 hours of work is counted as 1 ECTS credit.
Detail Informations of the Course
Course Description
Course
Code
Semester
T+P (Hour)
Credit
ECTS
INSTITUTIONAL ECONOMICS
-
Fall Semester
3+0
3
5
Course Program
Prerequisites Courses
Recommended Elective Courses
Language of Course
English
Course Level
First Cycle (Bachelor's Degree)
Course Type
Elective
Course Coordinator
Name of Lecturer(s)
Prof.Dr. Mehmet BABACAN
Assistant(s)
Aim
The aim of this course is to provide students with an understanding of institutional structures, behaviors, and the economic outcomes of institutions.
Course Content
This course contains; Introduction,Institutions, rules, and economic performance,Coase's theorem and transaction cost economics,Property rights theory,Transaction cost theory,Principal-agent relationships,Institutions and economic change,Tragedy of the commons,Institutions and economic development,Theories of institutional change,The relationship between law and economics,Emerging trends and challenges in institutional economics,The future of institutional economics,General Overview.
Dersin Öğrenme Kazanımları
Teaching Methods
Assessment Methods
1. Will be able to explain the role of Institutions in the economy.
9
A
1.1. Analyze historical development of institutions.
1.2. Explain how changes in economic institutions have influenced economic growth and development.
2. Will be able to apply the institutional economics theories to the real-world problems.
9
A
2.1. Explain transaction cost economics.
2.2. Explain agency theory.
3. Will be able to explain the role, effect and results of institutional change in political reforms
9
A
3.1. Explain the effects of institutional change on political reforms
3.2. Explain the effects of institutional change through political reforms on the economy.
4. Will be able to assess ongoing debates and research in institutional economics.
9
A
4.1. Evaluate academic literature and research findings in the field.
4.2. Engage in discussions on contemporary topics in institutional economics.
5. Will be able to apply institutional economics principles to policy analysis and decision-making.
9
A
5.1. Use institutional economics frameworks to assess the effectiveness of economic policies.
5.2. Formulate policy recommendations based on institutional economic analysis.
Teaching Methods:
9: Lecture Method
Assessment Methods:
A: Traditional Written Exam
Course Outline
Order
Subjects
Preliminary Work
1
Introduction
2
Institutions, rules, and economic performance
3
Coase's theorem and transaction cost economics
4
Property rights theory
5
Transaction cost theory
6
Principal-agent relationships
7
Institutions and economic change
8
Tragedy of the commons
9
Institutions and economic development
10
Theories of institutional change
11
The relationship between law and economics
12
Emerging trends and challenges in institutional economics
13
The future of institutional economics
14
General Overview
Resources
- Institutional Economics: An Introduction, Stefan Voigt, Cambridge University Press, 2019.
- The economic institutions of capitalism: Firms, markets, relational contracting, Oliver E. Williamson, Gabler, 2007.
Course Contribution to Program Qualifications
Course Contribution to Program Qualifications
No
Program Qualification
Contribution Level
1
2
3
4
5
1
(S)he describes theoretical knowledge in economics and finance.
X
2
(S)he explains mathematical and statistical methods needed for economics and finance.
3
(S)he uses at least one computer program utilized for economic and financial analyses (SPSS, Eviews, STATA, R ve MATLAB).
4
(S)he has the foreign language proficiency necessary for economics and finance.
X
5
(S)he develops projects in the field and handles team work.
6
(S)he develops (her) his awareness of lifetime learning, follows the developments in (her) his field and adopts a critical approach.
7
(S)he uses theoretical and practical knowledge on economics and finance.
X
8
(S)he delivers (her) his opinions by making effective use of modern technologies and of at least one foreign language at a minimum level of level C1.
9
(S)he adopts and uses organizational, corporate and social ethical values.
10
(S)he adopts principles of social responsibility and acts whenever needed in light of social service sensitivity.
11
(S)he analyzes and uses basic knowledge and data regarding different disciplines to conduct inter-disciplinary studies.
12
(S)he benefits from (her) his proficiency in economics and finance to make policy suggestions and contribute to the field.
