COURSE UNIT TITLE

: INSTITUTIONAL ECONOMICS

DEGREE PROGRAMMES

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
ECO 4422 INSTITUTIONAL ECONOMICS ELECTIVE 3 0 0 6

Offered By

Economics

Level of Course Unit

First Cycle Programmes (Bachelor's Degree)

Course Coordinator

PROFESSOR DOCTOR MUSTAFA ERDEM ÖZGÜR

Offered to

Economics

Course Objective

The aim if the course is to help the learner to become familiar with the institutional underpinnings of a market economy. The course aims to give the learner an understanding of the institutional preconditions of exchange and contract among economic agents.

Learning Outcomes of the Course Unit

1   At the end of this course the learner is expected to have an insight into the role of institutions in economic systems.
2   Understand how economists define and explain institutions.
3   Recognize the role of institutions in economic phenomena.
4   Conceive the importance of evolutionary approaches in explaining the roles of institutions in the economic system.
5   Understand the role of the environment in economic theory and application.

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Introduction
2 Institutional thought in economics
3 Institutionalism: Old and new
4 Old Institutional Economics: Marxism and the German School
5 Old Institutional Economics: Austrian School and the Methodenstreit
6 Old Institutional Economics: Socialist Calculation Debate and the idea of social market economy
7 Old Institutionalist Economics: From the American institutionalist school to old-new critical realism
8 Old Institutionalist Economics: Comparative Economic Systems
9 New Institutional Economics: Law and economics, new political economy
10 New Institutional Economics: New Economic History, and the Evolutionary Economics
11 Property rights
12 Rationality and choice, firms and markets

Recomended or Required Reading

1. Hodgson, Geoffrey M. (2004). The Evolution of Institutional Economics. New York: Routledge.
2. Rutherford, Malcolm. (1994) Institutions in Economics: The Old and New Institutionalism. Cambridge: Cambridge University Press.
3. Additional course materials will be assigned during the semester.

Planned Learning Activities and Teaching Methods

1. Lectures
2. Readings
3. Essays
4. Class discussions

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 MT Midterm
2 PRS Presentation
3 FN Final
4 FCG FINAL COURSE GRADE MT * 0.30 + PRS * 0.30 +FN * 0.40
5 RST RESIT
6 FCGR FINAL COURSE GRADE (RESIT) MT * 0.30 + PRS * 0.30 + RST * 0.40


*** Resit Exam is Not Administered in Institutions Where Resit is not Applicable.

Further Notes About Assessment Methods

None

Assessment Criteria

1. The learner will demonstrate understanding of the role of institutions in an economic system.
2. The learner will be able to demonstrate knowledge on the concept of institutions and institutionalism in economic thought and practice.
3. The learner will demonstrate an acknowledgement on how institutional structure of the economy determines the incentives of economic agents.
4. The learner will become familiar with origins of institutional economics.
5. The learner will demonstrate understanding of how institutions explain economic phenomena.

Language of Instruction

English

Course Policies and Rules

1. Attending at least 70 percent of lectures is mandatory.
2. Plagiarism of any type will result in disciplinary action.

Contact Details for the Lecturer(s)

Doç.Dr. M. Erdem ÖZGÜR
Dokuz Eylül University
Faculty of Business
Department of Economics
Tel: 232 301 8295

Office Hours

Thursday: 13:30-14:30
Friday: 13:30-14:30

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 12 3 36
Preparing presentations 1 8 8
Preparations before/after weekly lectures 10 4 40
Preparation for midterm exam 1 20 20
Preparation for Final Exam 1 15 15
Preparing assignments 1 18 18
Midterm 1 1 1
Final 1 2 2
TOTAL WORKLOAD (hours) 140

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7PO.8PO.9PO.10PO.11PO.12PO.13PO.14
LO.155
LO.255
LO.3455
LO.455
LO.5455

CONTACT INFORMATION
Dokuz Eylül Üniversitesi Cumhuriyet Bulvarı No: 144 35210 Alsancak / İZMİR
Phone: +90(232) 412 12 12 - Fax: +90 (232) 464 81 35

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