Introduction to Institutional Economics
Instructor: Prof. Dr. Elisabeth Schulte
Format: Tandem-teaching, mixture of lecture & exercises in all sessions; online assignments (on ILIAS)
In 2017, a feedback concept was implemented into this course, for which the team received the award "Lehre@Philipp". Please see this video "Lehre@Philipp - Rückmeldung von Studierenden stärker nutzen" (in German):
Students acquire an understanding for institutions as solutions for society's cooperation and coordination problems. With instruction and background, students are enabled to understand cultural differences with respect to institutional settings. Students acquire the competence to apply different institutional economics approaches to simple problems and to assess alternative institutional solutions with formal methods.
The course introduces institutions as systems of rules and sanctions which govern economic transactions and social interactions. Several institutions (markets, laws, social norms, political institutions, etc.); the modes through which they are developed; and their impact on individual behaviour are discussed. Important theoretical approaches from the field of institutional economics are applied. Different institutional solutions to social dilemmas are examined.
Most of the material covered in the course is based on the text book by Groenewegen, Spinthoven and van den Berg (2010): Institutional Economics – An Introduction. Students who want to prepare themselves for the course are advised to read this book.
All course material is exclusively provided through the online learning system ILIAS.
Lectures, exercises, and discussions will alternate, so that there is no clear separation between lecture slot and exercise slot. Students will be asked to solve different kinds of online assignments (available on ILIAS), which will help them to become familiar with course concepts and prepare for the exam.