Contribution of D. C. North to the Institutional Economics

1. Definition of institutions
2. Contribution of D. C. North to the Institutional Economics
3. Contribution of O. E. Williamson to the Institutional Economics
4. Classification, examples (of institutional forms and types) and functions of institutions
5. Normative and positive approach of institutional economics (IE)
6. Main concepts of the institutional economics (IE)
7. Definition of transaction costs, examples of transaction costs
8. Determinants of transaction costs
9. What kind of characteristics of transactions affect transaction costs
10. Functional classification of transaction costs
11. Opportunities for measuring transaction costs
12. Why are important to consider resource costs and rent? What is their meaning in the IE?
13. Possibilities to measure cooperation benefits from institutional change.
14. Definition of property rights
15. Different forms of property, and how they differ in terms of supply and allocation;
    examples
16. Relevant characteristics of property rights
17. Most relevant property rights for the use of common-pool resources
18. Meaning of Coase theorem. Sample Solution

Sample Solution