Information Package / Course Catalogue
| Course Code | : İKT384 |
| Course Type | : Area Elective |
| Couse Group | : First Cycle (Bachelor's Degree) |
| Education Language | : Turkish |
| Work Placement | : N/A |
| Theory | : 3 |
| Prt. | : 0 |
| Credit | : 3 |
| Lab | : 0 |
| ECTS | : 5 |
The aim of this course is to go beyond the neoclassical paradigm that takes the market mechanism as given and to examine the role of institutions, formal rules, property rights, contracts, informal norms, and beliefs in economic growth, distribution, and market failures within a scientific framework. The course aims to equip students with the ability to analyze historical and contemporary economic issues from an institutional perspective through key concepts such as transaction costs, asymmetric information, bounded rationality, and path dependence.
Institutional Economics examines the role of institutions in determining economic performance from theoretical, historical, and analytical perspectives. The course covers the institutional critique of neoclassical economics, old and new institutional economics, transaction costs, property rights, contract theory, bounded rationality, formal and informal institutions, path dependence, political economy, public choice, and long-term economic growth.
| 1. | Deeply comprehends economic theories and concepts in current and historical contexts. |
| 2. | Solves economic problems at micro and macro levels with analytical thinking and modeling skills. |
| 3. | Critically evaluates the functioning of markets and institutions in the context of market failures and state intervention. |
| 4. | Synthesizes economic data and literature using academic and scientific research methods and produces academic texts in accordance with ethical rules. |
| 5. | Develops multidimensional solutions by integrating interdisciplinary approaches with economics. |
| 6. | Comparatively analyzes global economic and institutional developments independently and objectively. |
| 1. | Acemoglu, D., Johnson, S., & Robinson, J. A. (2001). The Colonial Origins of Comparative Development. |
| 2. | Acemoglu, D., & Robinson, J. A. (2012). Why Nations Fail. |
| 3. | Aoki, M. (2001). Toward a Comparative Institutional Analysis. |
| 4. | Coase, R. H. (1937). The Nature of the Firm. |
| 5. | Coase, R. H. (1960). The Problem of Social Cost. |
| 6. | Greif, A. (1994). Cultural Beliefs and the Organization of Society. |
| 7. | Hodgson, G. M. (1998). The Approach of Institutional Economics. |
| 8. | North, D. C. (1990). Institutions, Institutional Change and Economic Performance. |
| 9. | Ostrom, E. (1990). Governing the Commons. |
| 10. | Williamson, O. E. (1979). Transaction-Cost Economics: The Governance of Contractual Relations. |
| Type of Assessment | Count | Percent |
|---|---|---|
| Attending Lectures | 1 | %10 |
| Presentation | 1 | %10 |
| Midterm Examination | 1 | %20 |
| Final Examination | 1 | %60 |
| Activities | Count | Preparation | Time | Total Work Load (hours) |
|---|---|---|---|---|
| Lecture - Theory | 14 | 2 | 3 | 70 |
| Presentation | 1 | 10 | 1 | 11 |
| Individual Work | 12 | 1 | 2 | 36 |
| Midterm Examination | 1 | 5 | 1 | 6 |
| Final Examination | 1 | 5 | 1 | 6 |
| TOTAL WORKLOAD (hours) | 129 | |||
PÇ-1 | PÇ-2 | PÇ-3 | PÇ-4 | PÇ-5 | PÇ-6 | PÇ-7 | |
OÇ-1 | 4 | 5 | 4 | 5 | 3 | 5 | 5 |
OÇ-2 | 4 | 4 | 5 | 4 | 3 | 3 | 4 |
OÇ-3 | 5 | 5 | 5 | 4 | 5 | 5 | 4 |
OÇ-4 | 4 | 3 | 5 | 5 | 5 | 5 | 5 |
OÇ-5 | 5 | 5 | 5 | 4 | 4 | 3 | 5 |
OÇ-6 | 5 | 4 | 3 | 4 | 5 | 5 | 4 |