| Course Unit Code | Course Unit Title | Type of Course Unit | Year of Study | Semester | Number of ECTS Credits | | 150400307103 | INSTITUTIONAL ECONOMICS | Elective | 4 | 7 | 4 |
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| Level of Course Unit |
| First Cycle |
| Objectives of the Course |
| Discussing the importance and development of social and economic institutions in the framework of Instituitional Economics. |
| Name of Lecturer(s) |
| Dr. Öğr. Üy. Murat EREN |
| Learning Outcomes |
| 1 | Having discussion ability of the importance and development of institutions within the framework of Institutional Economics Approach | | 2 | To utilize the theory of transaction cost | | 3 | To analyze absolute and relative property rights and their importance in economic and social life |
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| Mode of Delivery |
| Daytime Class |
| Prerequisites and co-requisities |
| none |
| Recommended Optional Programme Components |
| yok |
| Course Contents |
| The economic analysis of institutions. |
| Weekly Detailed Course Contents |
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| 1 | Conceptual Framework: World of Costless Transactions, Ideal Structures, Established and Spontaneous Institutions, Individiual, Power, Political Institutions and Stability | none | none | | 2 | Theory of transaction costs | none | none | | 3 | Absolute Property Rights :The Property of Physical Objects, Private Property and Economic Analysis | none | none | | 4 | Relative Property Rights: Contractual Obligations | none | none | | 5 | Contract Theory: Managerial Firm Theory, Principal-Agent Model: Moral Hazard, Adverse Selection, Implicit Contracts | none | none | | 6 | Market, Firm and State in Institutional Economics: Order, Rules and Organizations | none | none | | 7 | Reading vorious articles | none | none | | 8 | New Institutional Economics and Market | none | none | | 9 | Midterm | none | none | | 10 | New Institutional Economics and State | none | none | | 11 | Institutions and Economic Performance | none | none | | 12 | Regulation | none | none | | 13 | Reading Various Articles | none | none | | 14 | Law and Economics | none | none | | 15 | Final | none | none |
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| Recommended or Required Reading |
| E.G.Furuboth and E.Richter (2008): Institutions and Economic Theory,Michigan
O.E.Williamson (1987): The Economics Institutions of Capitalism, Free Press
D.North (1999): Institutions, Institutional Change and Economic Performance, Cambridge University Press |
| Planned Learning Activities and Teaching Methods |
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| Assessment Methods and Criteria | |
| Midterm Examination | 1 | 40 | | Attending Lectures | 13 | 40 | | Reading | 2 | 20 | | SUM | 100 | |
| Final Examination | 1 | 100 | | SUM | 100 | | Term (or Year) Learning Activities | 40 | | End Of Term (or Year) Learning Activities | 60 | | SUM | 100 |
| | Language of Instruction | | Turkish | | Work Placement(s) | | yok |
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| Workload Calculation |
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| Midterm Examination | 1 | 1 | 1 |
| Final Examination | 1 | 1 | 1 |
| Attending Lectures | 13 | 3 | 39 |
| Individual Study for Mid term Examination | 8 | 4 | 32 |
| Individual Study for Final Examination | 5 | 4 | 20 |
| Reading | 2 | 7 | 14 |
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| Contribution of Learning Outcomes to Programme Outcomes |
| LO1 | 5 | 1 | 5 | 1 | 1 | 1 | 5 | 5 | 5 | 1 | 1 | 1 | 1 | 1 | | LO2 | 5 | 1 | 5 | 1 | 1 | 1 | 5 | 5 | 1 | 1 | 1 | 1 | 1 | 1 | | LO3 | 2 | 5 | 5 | 1 | 1 | 1 | 5 | 5 | 5 | 1 | 1 | 1 | 1 | 1 |
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| * Contribution Level : 1 Very low 2 Low 3 Medium 4 High 5 Very High |
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Iğdır University, Iğdır / TURKEY • Tel (pbx): +90 476
226 13 14 • e-mail: info@igdir.edu.tr
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