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Bringing Institutions into Economics when Teaching Economics as a Minor Subject

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  • 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

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    References listed on IDEAS

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    More about this item

    Keywords

    New Institutional Economics; History of Economic Thought; Agricultural Economics; Teaching of Economics.;

    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

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