Welcome to the homepage of New Institution Economics !
Tips: Transaction costs are the frictions in the economic world; they determine the choice of governance structures (market, firm, hybrid).
——Oliver Williamson
Course Introduction
Course Number:09010500 Credits:3
The teaching content of this course is as follows:
Week
Content
1-2: Origin of New Institutional Economics
The emergence and development of New Institutional Economics
The realistic background of the emergence and development of New Institutional Economics
The theoretical origin of New Institutional Economics
The theoretical framework and research methods of New Institutional Economics
3-4: Transaction Cost Theory
The definition of transaction and transaction cost
The nature and measurement of transaction costs
The reasons for the existence and changes of transaction costs
Governance structure and transaction costs
Vertical integration and transaction costs
5-6: Property Rights Theory
The origin and functions of property rights
The tragedy of the commons and Coase Theorem
Property rights theories of Barzel and Alchian
Property rights theories of Demsetz and Ostrom
7-8: State and Constitutional Theory
The origin and essence of the state
North's state theory
State, constitutional government and institutional change
State, constitutional government and economic growth
9: Ideology Theory
The connotation and characteristics of ideology
Ideology and social capital
Ideology and informal institutions
Ideology and economic growth
10-11: Interest Group Theory
The definition of interest groups
Interest groups and collective action
Voting and rent-seeking of interest groups
Interest groups and institutional change
12-13: Path Dependence Theory
The origin of path dependence theory
North's path dependence theory
Greif's revolution of "path dependence"
The breakthrough of path dependence and path creation
14-15: Institutional Change Theory
The connotation and motivation of institutional change
Institutional change from different perspectives
The process of institutional change
The modes of institutional change
16-17: Institutional Performance Theory
Reflection on traditional economic growth theory
North's institutional performance theory
Greif's institutional performance theory
Institutional performance: historical and realistic investigation
Random attendance check-in, please attend classes as much as possible. All final exam questions are included in the course materials. The essay should aim for a maximum word count.
