"Economic security" handbook for practical lessons
In a world where transactions are costly, institutions influence economic performance. This course will focus on New Institutional Economics. Students will be introduced to the concepts of institutions, organizations, property rights and transaction costs. Their effects on the existence and working of firms, markets and states as well as on long term economic growth will be analyzed. In an exemplary way, the influence of institutions on other social issues like environmental problems and crime will also be addressed.