{"id":9145,"date":"2025-09-24T22:47:00","date_gmt":"2025-09-24T19:47:00","guid":{"rendered":"https:\/\/www.econ.uoa.gr\/?post_type=course&#038;p=9145"},"modified":"2026-04-17T14:31:22","modified_gmt":"2026-04-17T11:31:22","slug":"eco464-institutional-economics-semester-8th","status":"publish","type":"course","link":"https:\/\/www.econ.uoa.gr\/en\/course\/eco464-institutional-economics-semester-8th\/","title":{"rendered":"ECO464 - Institutional Economics (semester 8)"},"content":{"rendered":"<p><strong>Course Description<\/strong><\/p>\n<div class=\"ce-textpic ce-center ce-above\">\n<div class=\"ce-bodytext\">\n<p><strong>\u039a\u0391\u03a4\u0397\u0393\u039f\u03a1\u0399\u0391 \u039c\u0391\u0398\u0397\u039c\u0391\u03a4\u039f\u03a3:\u00a0<\/strong>\u039c\u0391\u0398\u0397\u039c\u0391 \u0395\u039b\u0395\u03a5\u0398\u0395\u03a1\u0397\u03a3 \u0395\u03a0\u0399\u039b\u039f\u0393\u0397\u03a3<\/p>\n<p><strong>\u03a4\u0399\u03a4\u039b\u039f\u03a3 \u039c\u0391\u0398\u0397\u039c\u0391\u03a4\u039f\u03a3:\u00a0<\/strong>INSTITUTIONAL ECONOMICS<\/p>\n<p><strong>\u039a\u03a9\u0394\u0399\u039a\u039f\u03a3 \u039c\u0391\u0398\u0397\u039c\u0391\u03a4\u039f\u03a3:<\/strong>\u00a0ECO464<\/p>\n<p><strong>\u0395\u039e\u0391\u039c\u0397\u039d\u039f \u0394\u0399\u0394\u0391\u03a3\u039a\u0391\u039b\u0399\u0391\u03a3:<\/strong>\u00a0\u03b5\u03be\u03ac\u03bc\u03b7\u03bd\u03bf 8\u03bf<\/p>\n<p><strong>\u0394\u0399\u0394\u0391\u03a3\u039a\u039f\u039d\u03a4\u0395\u03a3: \u03a0. \u039a\u03c9\u03c3\u03c4\u03ae\u03c2<\/strong><\/p>\n<p><strong>\u03a4\u03bf \u03bc\u03ac\u03b8\u03b7\u03bc\u03b1 \u03b4\u03b9\u03b1\u03c4\u03af\u03b8\u03b5\u03c4\u03b1\u03b9\u00a0\u03b7\u03bb\u03b5\u03ba\u03c4\u03c1\u03bf\u03bd\u03b9\u03ba\u03ac<\/strong>\u00a0<strong>\u03bc\u03ad\u03c3\u03c9 Eclass \u03c3\u03c4\u03bf \u03c3\u03cd\u03bd\u03b4\u03b5\u03c3\u03bc\u03bf\u00a0<\/strong><a href=\"https:\/\/eclass.uoa.gr\/courses\/ECON568\/\" target=\"_blank\" rel=\"noopener noreferrer\">https:\/\/eclass.uoa.gr\/courses\/ECON568\/<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><strong>COURSE OBJECTIVE:<\/strong><\/p>\n<p>The main objective of the course is for students to understand the importance and role of institutions, as well as their impact on the development and performance of economies.<\/p>\n<p><strong>DETAILED DESCRIPTION:<\/strong><\/p>\n<p>Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping the behavior of economic agents\/individuals. In contrast to the exclusive emphasis on the role of prices or supply and demand, institutional economics emphasizes the role of institutions. \u201cTraditional\u201d institutional economics considers that in addition to preferences, expectations for the future, habits, and incentives not only shape institutions but are also constrained and influenced by institutions. New Institutional Economics emphasizes institutions by utilizing key tools developed by neoclassical economic theory.<\/p>\n<p><strong>CONTENT-MATERIAL:<\/strong><\/p>\n<p>The course focuses on the three main pillars of New Institutional Economics: (i) transaction cost economics, (ii) property rights theory, and (iii) contract theory. It will also examine the relationship between economic and political institutions, as well as their impact on economic growth.<\/p>\n<p>Teaching modules<\/p>\n<ul>\n<li>Definitions. Neoclassical economics and institutions. Introduction to New Institutional Economics.<\/li>\n<li>Transaction costs \u2013 Transaction cost economics (TCE)<\/li>\n<li>Externalities and property rights. Coase&#039;s theorem.<\/li>\n<li>Tragedy of the commons. Management of common resources.<\/li>\n<li>Contract theory: asymmetric information.<\/li>\n<li>Incomplete contracts (Grossman &amp; Hart \u2013 property-rights theory of the firm).<\/li>\n<li>Institutional change and economic performance (Douglass North).<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>\u0394\u0399\u0394\u0391\u039a\u03a4\u0399\u039a\u0391 \u0392\u039f\u0397\u0398\u0397\u039c\u0391\u03a4\u0391:<\/strong><\/p>\n<p>D. North. \u0398\u03b5\u03c3\u03bc\u03bf\u03af, \u03b8\u03b5\u03c3\u03bc\u03b9\u03ba\u03ae \u03b1\u03bb\u03bb\u03b1\u03b3\u03ae \u03ba\u03b1\u03b9 \u03bf\u03b9\u03ba\u03bf\u03bd\u03bf\u03bc\u03b9\u03ba\u03ae \u03b5\u03c0\u03af\u03b4\u03bf\u03c3\u03b7, \u0395\u03ba\u03b4\u03cc\u03c3\u03b5\u03b9\u03c2 \u03a0\u03b1\u03c0\u03b1\u03b6\u03ae\u03c3\u03b7, 2006.<\/p>\n<p>Handbook of New Institutional Economics (edited by C. Menard and M. Shirley), 2008, Springer. Chapters 1 \u2013 3, 12 \u2013 14, 21 \u2013 22, 24 (\u03bc\u03b5\u03c4\u03b1\u03c6\u03c1\u03b1\u03c3\u03bc\u03ad\u03bd\u03b5\u03c2 \u03c3\u03b7\u03bc\u03b5\u03b9\u03ce\u03c3\u03b5\u03b9\u03c2 \u03b4\u03b9\u03b4\u03ac\u03c3\u03ba\u03bf\u03bd\u03c4\u03bf\u03c2)<\/p>\n<\/div>\n<\/div>","protected":false},"parent":0,"template":"","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":""},"course-type":[67,89,86],"semester":[85],"class_list":{"0":"post-9145","1":"course","2":"type-course","3":"status-publish","5":"course-type-eleftheris-epilogis","6":"course-type-89","7":"course-type-86","8":"semester-85"},"acf":[],"_links":{"self":[{"href":"https:\/\/www.econ.uoa.gr\/en\/wp-json\/wp\/v2\/course\/9145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.econ.uoa.gr\/en\/wp-json\/wp\/v2\/course"}],"about":[{"href":"https:\/\/www.econ.uoa.gr\/en\/wp-json\/wp\/v2\/types\/course"}],"wp:attachment":[{"href":"https:\/\/www.econ.uoa.gr\/en\/wp-json\/wp\/v2\/media?parent=9145"}],"wp:term":[{"taxonomy":"course-type","embeddable":true,"href":"https:\/\/www.econ.uoa.gr\/en\/wp-json\/wp\/v2\/course-type?post=9145"},{"taxonomy":"semester","embeddable":true,"href":"https:\/\/www.econ.uoa.gr\/en\/wp-json\/wp\/v2\/semester?post=9145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}