Ronald Coase Institute



About New Institutional Economics



New Institutional Economics incorporates a theory of institutions - laws,
rules, customs, and norms - into economics. It builds on, modifies, and
extends neoclassical theory. It retains and builds on the fundamental
assumption of scarcity and hence competition - the basis of the choice
theoretic approach that underlies microeconomics.

It has developed as a movement within the social sciences that unites
theoretical and empirical research examining the role of institutions in
furthering or preventing economic growth. It includes work in transaction
costs, political economy, property rights, hierarchy and organization, and
public choice.  It involves work in political science, law, sociology,
anthropology, and other social sciences.






  SEE
  Glossaries (English, Chinese, Arabic)
  NIE Terms Translated

  Reading List - Introductory
  Reading List - North & Nye 2003
  Links and Resources




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