Information Package / Course Catalogue
Institutional Economics
Course Code: ECO308
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: 6
Objectives of the Course

The purpose of this course, the phenomenon of institutional economics , traditional and contemporary qualities of mind to know and to understand its place in the schools of economic thought. At this point, you must first master the theory of Institutional Economics school of criticism of classical economics and the foundations on which these criticisms will be discussed. Where the Old and New Institutional Economics approach shows parallels and is intended to see what points separated from each other.

Course Content

Conceptual framework of institutional economics, Historical development of institutional economics: the German historicist school, Austrian school, Freiburg school, Evaluation of old institutional economics, emergence of new institutional economics, Economic analysis of institutions, Practice areas of new institutional economics: Basic rules, organizations, social Networks.

Name of Lecturer(s)
Learning Outcomes
1.Comprehends the importance and progress of institutions in economic life.
2.Comprehends the importance and progress of institutions in social life.
3.Contacts a two-way causal relationship between economic performances and the change in corporate structure through the theoretical approaches which are introduced.
4.Have knowledge about property rights.
5.Understand the relationship between moral values and economic development.
Recommended or Required Reading
1.Eyüp ÖZVEREN, Kurumsal İktisat, İmge Kitabevi Yayınları, Ankara, 2007.
2.C. North DOUGLASS, Kurumlar, Kurumsal Değişim ve Ekonomik Performans, Sabancı Üniversitesi Yayınları, İstanbul, 2002.
Weekly Detailed Course Contents
Week 1 - Theoretical
Conceptual framework of institutional economics
Week 2 - Theoretical
Historical development of institutional economics: the German historicist school, Austrian school, Freiburg school
Week 3 - Theoretical
Evaluation of old institutional economics, emergence of new institutional economics
Week 4 - Theoretical
Economic analysis of institutions
Week 5 - Theoretical
Theory of transaction costs
Week 6 - Theoretical
Absolute property rights: ownership of physical objects, private property, use rights and economic analysis
Week 7 - Theoretical
Relative property rights: contractual obligations
Week 8 - Theoretical
Contraction theory: theory of administrative firm, principle-agent model, moral hazard, adverse selection, implicit contracts
Week 9 - Theoretical
Contraction theory: theory of administrative firm, principle-agent model, moral hazard, adverse selection, implicit contracts
Week 10 - Theoretical
Practice areas of new institutional economics: Basic rules, organizations, social networks
Week 11 - Theoretical
Market and Firm in new institutional economics
Week 12 - Theoretical
Government in new institutional economics
Week 13 - Theoretical
New institutional economics and economic policies
Week 14 - Theoretical
Institutions and their impacts on economic performance
Assessment Methods and Criteria
Type of AssessmentCountPercent
Midterm Examination1%40
Final Examination1%60
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory140342
Reading140228
Individual Work140342
Midterm Examination115116
Final Examination121122
TOTAL WORKLOAD (hours)150
Contribution of Learning Outcomes to Programme Outcomes
PÇ-1
PÇ-2
PÇ-3
PÇ-4
PÇ-5
PÇ-6
PÇ-7
PÇ-8
PÇ-9
PÇ-10
PÇ-11
PÇ-12
PÇ-13
PÇ-14
PÇ-15
OÇ-1
4
4
4
4
OÇ-2
4
5
4
4
OÇ-3
4
4
4
4
OÇ-4
OÇ-5
Adnan Menderes University - Information Package / Course Catalogue
2026