ECTS - Institutional Economics
Institutional Economics (IKT427) Course Detail
| Course Name | Course Code | Season | Lecture Hours | Application Hours | Lab Hours | Credit | ECTS |
|---|---|---|---|---|---|---|---|
| Institutional Economics | IKT427 | 3 | 0 | 0 | 3 | 6 |
| Pre-requisite Course(s) |
|---|
| N/A |
| Course Language | Turkish |
|---|---|
| Course Type | N/A |
| Course Level | Bachelor’s Degree (First Cycle) |
| Mode of Delivery | Face To Face |
| Learning and Teaching Strategies | Lecture, Discussion, Question and Answer, Brain Storming. |
| Course Lecturer(s) |
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| Course Objectives | The aim of this course is to make some sense of the institutionalist tradition in economics considering its original and new interpretations and contributors. In doing so, we will first focus on the fundamentals of the critiques of classical economics developed and enriched by the prominent representatives of ‘old’ or ‘original’ institutional economics (OIE) such as Thorstein Veblen, John R. Commons ve Clarence E. Ayres. This effort will give a way in understanding the points where the original and new institutional economics (NIE) meet and separate. Secondly, we will focus on the microeconomic and macroeconomic theoretical and empirical contributions of some leading figures in NIE such as Ronald H. Coase, Oliver E. Williamson and Douglass North on the theory of firm, economic development and so on. Along with the philosophical background of OIE, NIE’s core concepts like ‘transaction costs economics’, ‘governance structures’, ‘positive externalities’, ‘bounded rationality’, ‘property rights’ will be introduced here. This course will also provide some insights about the critical roles played by both traditions during the making of the macro-level policies. |
| Course Learning Outcomes |
The students who succeeded in this course;
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| Course Content | The main representatives of the new institutional economics; its contribution to theory of firm and economic development; current transactions costs economics, governance structures, positive externalities, bounded rationality, property rights, the extent of institutional economics on the determination of macroeconomic policies. |
Weekly Subjects and Releated Preparation Studies
| Week | Subjects | Preparation |
|---|---|---|
| 1 | Definition of Political Economy and its development | James A. Caporasove David P. Levine. Theories of Political Economy Oct 1992 |
| 2 | Definition of Political Economy and its development | |
| 3 | Traditions of Political Economy | The Livelihood of Man (Studies in social discontinuity)By Karl Polanyi, edited By Harry W. Pearson. New York, San Francisco, and London: Academic Press, 1977 |
| 4 | Development of Neoclassical Economy | |
| 5 | Development of Neoclassical Economy | |
| 6 | Development of Neoclassical Economy | |
| 7 | Development of Neoclassical Economy | |
| 8 | Development of Neoclassical Economy | |
| 9 | Development of Neoclassical Economy |
Sources
| Course Book | 1. • Chavance, Bernard. Institutional Economics. Trans. Francis Wells. London: Routledge, 2009. |
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Evaluation System
| Requirements | Number | Percentage of Grade |
|---|---|---|
| Attendance/Participation | - | - |
| Laboratory | - | - |
| Application | - | - |
| Field Work | - | - |
| Special Course Internship | - | - |
| Quizzes/Studio Critics | - | - |
| Homework Assignments | 1 | 15 |
| Presentation | - | - |
| Project | - | - |
| Report | - | - |
| Seminar | - | - |
| Midterms Exams/Midterms Jury | 1 | 35 |
| Final Exam/Final Jury | 1 | 50 |
| Toplam | 3 | 100 |
| Percentage of Semester Work | |
|---|---|
| Percentage of Final Work | 100 |
| Total | 100 |
Course Category
| Core Courses | X |
|---|---|
| Major Area Courses | |
| Supportive Courses | |
| Media and Managment Skills Courses | |
| Transferable Skill Courses |
The Relation Between Course Learning Competencies and Program Qualifications
| # | Program Qualifications / Competencies | Level of Contribution | ||||
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 1 | Have an advanced level of basic theoretical knowledge on the field of public finance in order to obtain the practical gains. | X | ||||
| 2 | Identify the issues related to the field of public finance by dealing with it within the framework of the methodological approach, and report and evaluate it from an analytical point of view. | X | ||||
| 3 | Understand, interpret and analyse economic and financial events, equipped with knowledge of certain disciplines, especially economics, business and law. | X | ||||
| 4 | Develop policies and strategies for solving the problems by establishing the cause-effect relationship related to fiscal and economic issues through theoretical information and the discussions. | X | ||||
| 5 | Establish the relationship of public financial management and budget theory with public policies, he/she makes strong budget analysis, develop analysis on public finance and makes a link with the policy implementation | X | ||||
| 6 | Understand the tax theory, learning the legal structure, following the legal and financial developments and gaining a professional competence in tax matters effectively develop it. | X | ||||
| 7 | Have knowledge of accounting systems in private and public institutions and businesses, analyze and interpret the financial and financial structure of institutions with the knowledge and competence gained. | X | ||||
| 8 | Gain knowledge of macroeconomic framework and growth theory, including theoretical and country examples, evaluates economic developments from a theoretical perspective. | X | ||||
| 9 | Use foreign language in financial and economic fields, follow international literature, communicate on professional issues. | X | ||||
| 10 | Benefit from technological developments in studies specific to its field by using information technologies, digital developments and common software. | X | ||||
| 11 | Use qualitative and quantitative methods for the analysis of economic, financial, social and institutional events. | X | ||||
| 12 | While fulfilling its academic and professional responsibilities, develop an approach that respects s United Nations sustainable development goals, freedoms, rights of the disadvantaged groups, environment, cultural and moral values. | X | ||||
ECTS/Workload Table
| Activities | Number | Duration (Hours) | Total Workload |
|---|---|---|---|
| Course Hours (Including Exam Week: 16 x Total Hours) | 16 | 3 | 48 |
| Laboratory | |||
| Application | |||
| Special Course Internship | |||
| Field Work | |||
| Study Hours Out of Class | 16 | 6 | 96 |
| Presentation/Seminar Prepration | |||
| Project | |||
| Report | |||
| Homework Assignments | |||
| Quizzes/Studio Critics | |||
| Prepration of Midterm Exams/Midterm Jury | 1 | 2 | 2 |
| Prepration of Final Exams/Final Jury | 1 | 3 | 3 |
| Total Workload | 149 | ||