Institutional Economics

Garant předmětu:

Lecturer:

Tutor:

Supervisor:

Department of Social Sciences

Synopsis:

Ancient economical and philosophical thought is interpreted in the introduction to this subject. Then classic economic theory, monetarism and present economical theories are discussed. Then are discussed basic conception and development of institutional economy and the function of the market in institutional economy (compared with classic economy). In the end there are discussed conception of institutions, property rights, Coase theorem, asymmetric information and the theory of games.

Requirements:

Exam:

Successful writing of the exam test in the development of institutional economics.

Syllabus of lectures:

1. Economic thinking of pre-classical times

2. Classical economic theory

3. Marginalist school and Keynesianism

4.Neoclassical synthesis, monetarism and contemporary theories

5. Emergence of institutional economics

- Original American institutionalism

6.Developments during WW1, WW2

7.New institutional economics

–origin and development, basic concepts, objective

–Difference American Institute. X New Institutional Economics

8.Institutions in a broad and narrower sense,

transaction cost

9. Proprietary Rights

-concept

-company and property rights

-Coase theorem

-theory of contractual relations

10.Market functioning

-market organization and company

-shift

-economic equilibrium

11. Uncertainty vs. Risk

-asymmetric information

-moral hazard, unfavorable selection

-game theory

12. Credit

(Theory of the state, state interventions in the economy, theory

evolution of institutions)

Syllabus of tutorials:

The course has no exercises

Study Objective:

The aim of the subject is to introduce to the students development of the economic thought from the ancient world to the present with the emphasis on institutional economy.

Study materials:

Mlčoch, L.: Institucionální ekonomie, Karolinum, Praha 2005

Voigt, S.: Institucionální ekonomie, Alfa, Brno 2009

Note:

Time-table for winter semester 2024/2025:

Time-table is not available yet

Time-table for summer semester 2024/2025:

Time-table is not available yet

The course is a part of the following study plans: