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Subject data sheet

Introduction to Institutional Economics

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Code: 4OG33NAV42B
Name: Introduction to Institutional Economics
Number of hours per semester: 2+2
Credits: 6
Fall/Spring: Spring
Language: English
Prerequisites: Microeconomics I-II.
Course type: Economics Applications - Electives
Department: Összehasonlító és Intézményi Gazdaságtan Tanszék
A Course leader: Golovics József

Course description: : This course provides an introduction to the basic topics of institutional economics. It is divided into three main parts. The part is dedicated to the historical roots, basic concepts and behavioral assumptions of institutional economics. The second part introduces the main issues of new institutional economics, i.e. transaction costs, property rights and contracts. The final part of the course discusses the institutional economics of the political actions and political market.

Assessment, grading: midterm exam: 40 points
closing exam: 40 points
presentations: 2x10 points

- 50 : fail (1)
51 – 62 : sufficient (2)
63 – 74 : average (3)
75 – 87 : good (4)
88 - : excellent (5)

Aims and objectives and description of the course: Week 1: Introduction; Course requirements
Week 2: Institutions, institutional change
Week 3: Behavioral assumptions
Week 4: Transaction costs
Week 5: Property rights
Week 6: Contracts
Week 7: Midterm exam / Firm
Week 8: Market
Week 9: State
Week 10: Collective action and interest group theory
Week 11: Political market
Week 12: Closing exam

Time of class: see Neptun

Learning outcomes: By the end of the course, students will gain a comprehensive overview of the most important topics of institutional economics. They will be able to use its theories and concepts to analyze real life economic events and actions. The course aims to improve students’ presentation skills too.

Assignments: 2 presentations

Compulsory readings:

  • Furubotn, E. G. – Richter, R. (2005): Institutions and Economic Theory. The Contribution of the New Institutional Economics. The University of Michigan Press, Ann Arbor.
  • North, D. C. (1991): Institutions, Institutional Change and Economic Performance. Cambridge University Press, Cambridge.
  • Coase, R. H. (1990). The Firm, the Market, and the Law. University of Chicago Press Economics Books, Chicago.

Recommended readings:

  • Williamson, O. E. (1985): The Economic Institutions of Capitalism. Firms, Markets, Relational Contracting. Free Press, New York.
Compulsory readings:
Recommended readings:


Golovics József

Last modification: 2018-09-14 13:02:47


Course codeTypeSemesterInstructors
GGyakorlat2018/19/2Golovics József
EElmélet2018/19/2Golovics József
G1Gyakorlat2018/19/2Golovics József
E1Elmélet2018/19/2Golovics József

A "Tantárgyfelelős tanszék", a tantárgyfelelős neve a tantárgy oktatói és a kurzusinformációk automatikusan frissülnek a tanulmányi rendszerünk alapján.



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