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Textbooks for the course are |
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Alston, Lee
J., Eggertsson, Thrainn, and North, Douglass C., eds.
Empirical Studies in Institutional Change, Cambridge:
Cambridge University Press, 1996. (=AEN)
Drobak, John and Nye, John, editors, Frontiers of the New
Institutional Economics, Academic Press 1997 (=DN)
Furubotn, Eirik G. and Richter, Rudolf, Institutions and
Economic Theory: The Contribution of the New Institutional
Economics, Ann Arbor, Michigan: University of Michigan Press,
1998
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Part I: Nye
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A. |
Economic
Theory and the New Institutional Economics
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1. Science,
methodology, the role of observation,
and the need for a broader conception of theory
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Feynman,
Richard P., Leighton, Robert B., and Sands, Matthew, The
Feynman Lectures on Physics, Addison-Wesley, 1963, excerpts
Introduction and first two chapters, North, D. C., “Prologue,” and
Fogel, R. W., “Douglass C. North and Economic Theory,” in
DN
McCloskey, Deirdre, “Rhetoric of Mathematical Formalism,” Chapter
10 of Knowledge and Persuasion in Economics, Cambridge:
Cambridge University Press, 1994
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2. Basics |
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What are
institutions?
Relationship to microeconomic theory of variables
and to macroeconomic theory of variables
How do institutions change?
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Alston, Lee
J., Eggertsson, Thrainn, and North, Douglass C, “Introduction,”
in AEN
Eggertsson, Thrainn, “A Note on the Economics of Institutions,”
in AEN
Alston, Lee J., “Empirical Work in Institutional Economics: An
Overview,” in AEN
Furubotn and Richter, Chapter 1
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3. Do
economists know that institutions matter?
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Rodrik,
Dani, Subramanian, Arvind, and Trebbi, Francesco, “Institutions
Rule: The Primacy of Institutions over Geography and Integration
in Economic Development,” NBER Working Paper 9305, 2002
Keefer, Philip and Shirley, Mary M., “Formal versus
Informal Institutions in Economic Development,” in Claude Menard
(ed.), Institutions, Contracts, and Organizations:
Perspectives from New Institutional Economics, Cheltenham,
UK: Edward Elgar, 2000
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B. |
Political
Economy
Public Choice, Property Rights, and Political Science
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Libecap,
Gary, “Economic Variables and the Development of the Law,” in
AEN
Ensminger, J., “Changing
Property Rights: Reconciling Formal and Informal Rights to Land
in Africa,” in DN
Weingast, B. R.,
“The Political Foundations of Limited Government: Parliament and
Sovereign Debt in 17th- and 18th-Century England,” in DN
Krueger, “Anne O., “The Political Economy of Controls: American
Sugar,” in AEN
Higgs, Robert, “Legally Induced Technical Regress in the
Washington Salmon Fishery,” in AEN
Furubotn and Richter, Chapter 3
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C. |
Implications
of New Institutional Economics for Economic History
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Hoffman, P. T. and Rosenthal, J.-L., “The Political Economy of Warfare and
Taxation in Early Modern Europe: Historical Lessons for Economic
Development,” in DN
Greif, A., “On the Interrelations and Economic Implications of
Economic, Social, Political and Normative Factors: Reflections
From Two Late Medieval Societies,” in DN
North, Douglass C. and Weingast, Barry R., “Constitutions and
Commitment: The Evolution of Institutions Governing Public Choice
in Seventeenth-Century England,” in AEN
Nye, John, War, Wine, and Taxes, work in
progress, excerpts
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D. |
New
Institutional Economics and the Analysis of Political Struggle
War and Conflict in Economic Perspective
Unsolved Problems, New Speculations
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Nye,
J.V.C., “Thinking About the State: Property Rights, Trade, and
Changing Contractual Arrangements in a World with Coercion,”
in DN
Alston, L.J., Libecap,
G.D., and Mueller, B., “Violence and the Development of Property
Rights to Land in the Brazilian Amazon,” in DN
Furubotn and Richter, Chapters 6 and 9
Schofield, Norman, “Institutional Innovation, Contingency and
War: A Review” in Social Choice and Welfare17 (June
2000), 463-479
Schofield, Norman, “Constitutional Political Economy:
Rational Choice Theory and Comparative Politics,” Annual Review
of Political Science 3 (July 2000), 277-303
Nye, John, “Killing Private Ryan: An Institutional Analysis of
Strategy and Military Procurement in World War II,”
work in progress
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E. |
A Brief Introduction to Managerial Issues in Organization
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Miller, Gary, Managerial Dilemmas: The Political Economy
of Hierarchy, Cambridge: Cambridge University Press, 1992,
excerpts
Williamson, Oliver E., The Mechanisms of
Governance, New York: Oxford University Press, 1996, excerpts
Furubotn and Richter, Chapters 2, 5, 8
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Part II: North
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A. |
The Process of Economic Change
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1.
Rationality, cognition, and choices
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North,
Douglass C. and Knight, Jack, “Explaining Economic Change: The
Interplay Between Cognition and Institutions,” Legal Theory
3:3 (1997)
North, Douglass C. and Denzau, Arthur T., “Shared Mental
Models,” Kyklos 47:1 (1994),
3-31
Clark, A., “Economic
Reason: The Interplay of Individual Learning and External
Structure,”
in DN
David, P.A. and
Sanderson, W.C., “Making Use of Treacherous Advice: Cognitive
Process, Bayesian Adaptation, and the Tenacity of Unreliable
Knowledge,”
in DN
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2. Belief
systems, culture, and cognitive science
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North,
Douglass C., “Hayek’s Contribution to Understanding the Process
of Economic Change,” in Viktor Vanberg, editor, Freiheit, Wettbewerb und
Wirtschaftsordnung, Freiburg i.Br.: Rudolf Haufe Verlag, 1999
Vanberg, “Cultural Evolution, Collective Learning, and
Constitutional Design” 1994 in: Reisman, D., editor.,
Economic Thought and Political Theory, Boston: Kluwer
Academic Publishers, 1994, 171-204
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3.
Institutional change
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Heiner,
Ronald A., “The Origin of Predictable Behavior,” American
Economic Review 73:4 (September 1983), 560-595
Cox, Gary W. and McCubbins, Mathew D., “The Institutional
Determinants of Policy Outcomes,” in Haggard, Stephan and
McCubbins, Mathew D., editors, Presidents, Parliaments, and
Policy, Cambridge: Cambridge University Press, 2000
North, Douglass C., “A Transactions Cost Theory of Politics,”
Journal of Theoretical Politics 2:4 (1990), 355-367
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4. The
process of economic change
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North,
Douglass C., “Institutions,” Journal of Economic Perspectives
5:1. (Winter 1991), 97-112
Eggertsson, Thrainn, “Norms in Economics, with special reference
to Economic Development,” in Hechter, Michael and Opp,
Karl-Dieter, editors, Social Norms,
New York: Russell Sage Foundation, 2001, pp. 76-104
Greif, Avner, “Cultural Beliefs and the Organization of Society:
A Historical Reflection on Collectivist and Individualistic
Societies,” Journal of Political Economy 102:5 (October
1994), 912-950
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B. |
Economic
Development
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North,
Douglass C, Summerhill, William, and Weingast, Barry R., “Order,
Disorder, and Economic Change: Latin America vs. North America,”
in Bueno de Mesquita, Bruce and Root, Hilton, editors,
Governing for Prosperity, New Haven: Yale University Press,
2000
Haber, Stephen, Introduction and
Chapter 3 in Haber, Stephen, editor, Introduction to Political
Institutions and Economic Growth in Latin America, Stanford:
Hoover Institution Press, Stanford University, 2000
Three case studies: Russia, China, and
Venezuela |
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ALSO SEE
Reading List - Introductory
About New Institutional Economics
Glossaries (English, Chinese,
Arabic)
New Institutional Economics Terms
Translated
Links and Resources
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