Pol Inst and Dev

(3 Credit Hours) · Undergraduate

This course takes as its starting point the new literature on institutional economics and comparative political economy, with a focus both on the basic theory and on contemporary empirical research. Institutions have proven important for economic and social development. The course will look at how institutions shape the incentives of economic agents, and how this influences economic outcomes in various contexts. Much discussion nevertheless revolves around which types of institutions matter for economic growth and development, and to what extent these institutions change over time. The course covers these and other topics including: the role of geography, natural resources, corruption; crony socialism & capitalism; causes and consequences and how to measure crony socialism & capitalism; democracy and economic development; understanding democracy deficit in the middle-east and failed states, discussed recently in institutional economics. The objective of the course therefore is to give students a solid foundation in the basic concepts of new institutional economics, as well as a first impression and understanding of the topics studied and the methodologies used at the frontier of institutional research today.