IDEAS home Printed from https://ideas.repec.org/p/sed/wpaper/702017.html
   My bibliography  Save this paper

Bringing Institutions into Economics when Teaching Economics as a Minor Subject

Author

Listed:
  • Martin Kniepert

    () (University of Natural Resources and Life Sciences Vienna, Institute of Sustainable Economic Development)

Abstract

Developments in economic policy since the 1980s have shown a general trend towards a single type of institutional arrangement, following short-term, immediately applicable efficiency criteria. This was supported through the teaching by putting particular weight on the corresponding analytical instruments. The thesis presented here observes a systematic bias in this. It does so by evaluating institutional trends in the various sectors of the economy, and by discussing institutional arrangements of selected areas in detail. Furthermore, it reviews contributions by representatives of New Institutional Economics for a more comprehensive approach. Based on this, institutions themselves are conceptualised as public or club goods. As such they are applied to the policy areas selected. It can thereby be shown that microeconomic theory can find an appropriate place in this extended economic approach, along with concepts like common-pool resource management. In conclusion, this thesis proposes giving considerably more space to institutions in economics curricula, to their evolution and implications for economic outcomes. Particularly for economics as a minor subject, more emphasis should be placed on institutional arrangements.

Suggested Citation

  • Martin Kniepert, 2017. "Bringing Institutions into Economics when Teaching Economics as a Minor Subject," Working Papers 702017, Institute for Sustainable Economic Development, Department of Economics and Social Sciences, University of Natural Resources and Life Sciences, Vienna.
  • Handle: RePEc:sed:wpaper:702017
    as

    Download full text from publisher

    File URL: ftp://ftp.boku.ac.at/pub/repecftpg/repecftp/RePEc/sed/wpaper/702017.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. H. Allen Klaiber & Klaus Salhofer & Stanley R. Thompson, 2017. "Capitalisation of the SPS into Agricultural Land Rental Prices under Harmonisation of Payments," Journal of Agricultural Economics, Wiley Blackwell, vol. 68(3), pages 710-726, September.
    2. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    3. Samuels, Warren J, 1995. "The Present State of Institutional Economics," Cambridge Journal of Economics, Oxford University Press, vol. 19(4), pages 569-590, August.
    4. Greif, Avner, 1993. "Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders' Coalition," American Economic Review, American Economic Association, vol. 83(3), pages 525-548, June.
    5. Greif, Avner & Laitin, David D., 2004. "A Theory of Endogenous Institutional Change," American Political Science Review, Cambridge University Press, vol. 98(4), pages 633-652, November.
    6. Stigler, George J., 2011. "Economics of Information," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 35-49.
    7. Lewis, W Arthur, 1980. "The Slowing Down of the Engine of Growth," American Economic Review, American Economic Association, vol. 70(4), pages 555-564, September.
    8. Giovannucci, Daniele & Josling, Timothy & Kerr, William & O'Connor, Bernard & Yeung, May T., 2009. "Guide to Geographical Indications: Linking Products and Their Origins (Summary)," MPRA Paper 27955, University Library of Munich, Germany.
    9. Cornes,Richard & Sandler,Todd, 1996. "The Theory of Externalities, Public Goods, and Club Goods," Cambridge Books, Cambridge University Press, number 9780521477185, December.
    10. Tim Josling, 2006. "What's in a Name? The economics, law and politics of Geographical Indications for foods and beverages," The Institute for International Integration Studies Discussion Paper Series iiisdp109, IIIS.
    11. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211-211.
    12. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.),Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    13. Rodrik, Dani, 2012. "The Globalization Paradox: Why Global Markets, States, and Democracy Can't Coexist," OUP Catalogue, Oxford University Press, number 9780199652525.
    14. Boettke, Peter J. & Coyne, Christopher J., 2005. "Methodological individualism, spontaneous order and the research program of the Workshop in Political Theory and Policy Analysis," Journal of Economic Behavior & Organization, Elsevier, vol. 57(2), pages 145-158, June.
    15. Kenneth J. Arrow, 1950. "A Difficulty in the Concept of Social Welfare," Journal of Political Economy, University of Chicago Press, vol. 58, pages 328-328.
    16. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
    17. Simon, Herbert A, 1979. "Rational Decision Making in Business Organizations," American Economic Review, American Economic Association, vol. 69(4), pages 493-513, September.
    18. William M. Dugger, 1996. "The Mechanisms of Governance," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(4), pages 1212-1216, December.
    19. Joseph E. Stiglitz, 2002. "Information and the Change in the Paradigm in Economics," American Economic Review, American Economic Association, vol. 92(3), pages 460-501, June.
    20. Tim Josling, 2006. "The War on Terroir: Geographical Indications as a Transatlantic Trade Conflict," Journal of Agricultural Economics, Wiley Blackwell, vol. 57(3), pages 337-363, September.
    21. Daron Acemoglu & James A. Robinson, 2017. "The Emergence of Weak, Despotic and Inclusive States," NBER Working Papers 23657, National Bureau of Economic Research, Inc.
    22. Antony W. Dnes, 1995. "Franchising and Privatization," World Bank Other Operational Studies 11677, The World Bank.
    23. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
    24. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
    25. James M. Buchanan & Richard A. Musgrave, 1999. "Public Finance and Public Choice: Two Contrasting Visions of the State," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262024624, September.
    26. Jouke de Vries, 2010. "Is New Public Management Really Dead?," OECD Journal on Budgeting, OECD Publishing, vol. 10(1), pages 1-5.
    27. Oliver E. Williamson, 1976. "Franchise Bidding for Natural Monopolies -- in General and with Respect to CATV," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 73-104, Spring.
    28. Greif, Avner, 1994. "Cultural Beliefs and the Organization of Society: A Historical and Theoretical Reflection on Collectivist and Individualist Societies," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 912-950, October.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dequech, David, 2006. "The new institutional economics and the theory of behaviour under uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 59(1), pages 109-131, January.
    2. Nunn, Nathan & Trefler, Daniel, 2014. "Domestic Institutions as a Source of Comparative Advantage," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.),Handbook of International Economics, edition 1, volume 4, chapter 0, pages 263-315, Elsevier.
    3. Egbert, Henrik & Sedlarski, Teodor, 2011. "Exploring Impact: Negative Effects of Social Networks," MPRA Paper 56688, University Library of Munich, Germany.
    4. Martin Kniepert, 2016. "What to teach, when teaching economics as a minor subject?," Working Papers 632016, Institute for Sustainable Economic Development, Department of Economics and Social Sciences, University of Natural Resources and Life Sciences, Vienna.
    5. Haucap, Justus, 2017. "The rule of law and the emergence of market exchange: A new institutional economic perspective," DICE Discussion Papers 276, University of Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    6. Eduardo Wiesner, 2008. "The Political Economy of Macroeconomic Policy Reform in Latin America," Books, Edward Elgar Publishing, number 12913.
    7. Ruttan, Vernon W., 2006. "Social science knowledge and induced institutional innovation: an institutional design perspective," Journal of Institutional Economics, Cambridge University Press, vol. 2(3), pages 249-272, December.
    8. Martin Kniepert, 2014. "Die (Neue) Institutionenökonomik als Ansatz für einen erweiterten, offeneren Zugang zur Volkswirtschaftslehre," Working Papers 552014, Institute for Sustainable Economic Development, Department of Economics and Social Sciences, University of Natural Resources and Life Sciences, Vienna.
    9. Furubotn, Eirik G., 2001. "The new institutional economics and the theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 45(2), pages 133-153, June.
    10. Lubna Hasan, 2007. "Myths and Realities of Long-run Development: A Look at Deeper Determinants," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(1), pages 19-44.
    11. Licht, Amir N. & Goldschmidt, Chanan & Schwartz, Shalom H., 2007. "Culture rules: The foundations of the rule of law and other norms of governance," Journal of Comparative Economics, Elsevier, vol. 35(4), pages 659-688, December.
    12. Frank A.G. den Butter, 2012. "Managing Transaction Costs in the Era of Globalization," Books, Edward Elgar Publishing, number 14748.
    13. Sovacool, Benjamin K., 2015. "The political economy of pollution markets: Historical lessons for modern energy and climate planners," Renewable and Sustainable Energy Reviews, Elsevier, vol. 49(C), pages 943-953.
    14. Asoni, Andrea, 2008. "Protection of Property Rights and Growth as Political Equilibria," Working Paper Series 737, Research Institute of Industrial Economics.
    15. Duarte N. Leite & Sandra T. Silva & Oscar Afonso, 2014. "Institutions, Economics And The Development Quest," Journal of Economic Surveys, Wiley Blackwell, vol. 28(3), pages 491-515, July.
    16. Yu, Shu & Beugelsdijk, Sjoerd & de Haan, Jakob, 2015. "Trade, trust and the rule of law," European Journal of Political Economy, Elsevier, vol. 37(C), pages 102-115.
    17. Sheilagh Ogilvie, 2007. "'Whatever Is, Is Right'?, Economic Institutions in Pre-Industrial Europe (Tawney Lecture 2006)," CESifo Working Paper Series 2066, CESifo.
    18. Bernard Paulré, 2001. "Enjeux et dilemmes de l'économie cognitive," Working Papers halshs-00135486, HAL.
    19. Mahamoud, Ismael, 2008. "Contraintes institutionnelles et règlementaires et le secteur informel à Djibouti [Institutional and regulatory constraints and the informal sector in Djibouti]," MPRA Paper 48886, University Library of Munich, Germany.
    20. Kherallah, Mylene & Kirsten, Johann F, 2002. "The New Institutional Economics: Applications For Agricultural Policy Research In Developing Countries," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 41(2).

    More about this item

    Keywords

    New Institutional Economics; History of Economic Thought; Agricultural Economics; Teaching of Economics.;
    All these keywords.

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • N54 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: 1913-
    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sed:wpaper:702017. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Eva Krickler). General contact details of provider: http://edirc.repec.org/data/wbokuat.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.