The aim of the course is to develop knowledge about institutions as the rules of the game in society. A basic framework for institutional analysis will be developed with a special focus on three key elements: configuring rules that constrain people's economic and social behavior; explaining the political process that leads to the creation and operationalization of rules; and analyzing the interactions between rules and norms that formulate public policy outcomes. Based on institutional analysis, the efficiency of selected institutions that influence (non)economic elements of development will be critically examined.
1. Basic concepts and principles of institutional economics
2. Transaction costs and property rights
3. The role of institutions in economic growth and development
4. Institutional changes and economic impacts
5. Theoretical framework for institutional analysis
6. The process of public-political decision-making and institutions
1. Discuss growth and development from a theoretical perspective
2. Identify institutions according to the level of formality and the area they regulate
3. To connect institutions with selected theories of growth and development
4. Analyze institutions and institutional changes and the effects of these changes on different areas of development
5. Propose, with arguments, institutional changes aimed at strengthening or innovating institutions that have certain shortcomings, and as such represent development limitations.
