KAZAKH-BRITISH TECHNICAL UNIVERSITY FACULTY OF ECONOMICS AND FINANCE ECONOMICS AND MANAGEMENT DEPARTMENT Approved Dean of FEF _____________G.

Abdrakhmanova

August,

2011

Syllabus
ECON465 Institutional Economics

Semester: Fall 2011 2011/2012 Academic Year 3 credits (2/0/1)

Developed by Senior Lecturer A.Azhmuhamedova Time and Place of Classes Personal Information About the Instructor Lessons Office Hours Candidate of Science in Economics. According to the schedule Contact Information Tel.: e-mail aaa_75@bk.ru

According to the 8 705 960 0069 schedule

Course Duration: 3 credits, 30 lectures, 15 workshops Course Pre-Requisites: Sociology, Politics, Foundations of Economic Theory, Microeconomics, Macroeconomics COURSE DESCRIPTION Course objectives The purpose of this course is to organize the plans and strategies in time and space, including construction management plans, goals and objectives, scientific principles, methods and objects of business planning, administrative and economic mechanisms and business planning tools. Course outcomes The acquisition of deep knowledge in the field of economic development of production; Development of deep conceptual foundations of business, the formation of business structures and functions of management of the enterprise; The acquisition of practical skills in industrial applications; Practical application of specific accounting methods and analysis in the industry; Mastering the practical skills of RK laws and regulations in the field of entrepreneurship, to monitor the use of labor, employment, pricing, etc. Knowledge: After completing the course the student should know and be able to apply their knowledge in practice Skills: The student must have practical experience in this area Prerequisites: course is based on knowledge, skills and experiences obtained during study of courses: Sociology, Politics, Foundations of Economic Theory, Microeconomics, Macroeconomics Post requisites: knowledge and skills, obtained during study of course Institutional Economics are used during study of courses: State regulation of the economy, risk analysis and management of environmental, managerial decision making, Strategic Management, Business economics, Statistics, Economics of Industry, Assessing the Business

Literature Required 1. Avtonomov VS human model in economics. St Petersburg. 1998.

2. Akerlof G. The market "lemons": quality uncertainty and market mechanism / / THESIS. 1994. No. 5. 3. Becker, G. Economic analysis and human behavior / / THESIS. 1993. V.1. Issue 1. 4. G. Becker, Crime and Punishment: An Economic Approach / / / / The origins. No. 4. M., 2000. 5. Bell, D. The coming post-industrial society. M., 1999. 6. Belokrylova OS, Volchik VV, AA Muradov Institutional features of the distribution of income in a transition economy. Rostov-on-Don: Rostov State Univ, 2000. 7. Brittan S. Capitalism with a human face. St Petersburg., 1998. 8. Budoni R. Place disorder. Critique of theories of social change. M., 1998. 9. Boyer R. The theory of regulation. A critical analysis. M., 1997. 10. J. Buchanan boundaries of freedom. Between anarchy and Leviathan / / Nobel laureates in economics. J. Buchanan. M., 1997. 11. Introduction to Institutional Analysis / Ed. Tambovtseva VL M., 1996. 12. Weber, M. Selected works. M., 1990. 13. Volkonsky VA The institutional approach to the crisis of the Russian economy / / Economics and Mathematical Methods. 1999. Number 1. 14. Volchik V. Course on institutional economics. Rostov-on-Don: Rostov State Univ, 2000. 15. Giddens, A. Sociology. M., 1999. Supplementary 16. Amosov AI On transformation of the Russian economy (in terms of evolutionary and institutional approach) / / Economics and Mathematical Methods. 1999. Number 1. 17. Gutnik B. Market Institutions and the Transformation of the Russian economy / / MEiMO 1995. . 7. 18. Gugnyak VA. J. The institutional paradigm in political economy. On the example of France. M., 1999. 19. David R. Joffre, Spinoza K. The main legal systems of today. M., 1999. 20. Zavelsky MG Institutional change and economic development / / Economics and Mathematical Methods. 1998. Issue 3. 21. Zotov, VV Presnyakov VF The firm as an economic phenomenon and institution of society / / Economics and Mathematical Methods. 1995. Issue 2. 22. Intrilligator M. Reforming the Russian economy: the role of institutions / / Economics and Mathematical Methods. 1997. Issue 3. 23. Kapelyushnikov RI The economic theory of property rights. M., 1990. 24. Castells M. The Information Age. M., 2000. 25. LO Kelso, Kelso PH Democracy and economic power. Rostov-on-Don: Phoenix, 2000. 26. Kirdina SG Economic institutions in Russia: the material and technological development background / / Social Sciences and the present. 1999. Number 6. 27. Kirdina SG Institutional matrix and the development of Russia. Moscow: TEIS, 2000. 28. Kovalev, S., Latov Y. "The Agrarian Question" in Russia in the XIX-XX centuries.: Attempt to institutional analysis / / Problems of Economics. 2000. Number 4. 29. Kozlowski, P. Society and the state. The inevitable dualism. AM: The Republic, 1999. 30. Coase, R. The institutional structure of production / / Bulletin of St. Petersburg State University. A series of "Economics." 1992. Number 4. 31. Coase R. The firm, the market and right. M., 1993. 32. Kuzminov, J. Abstracts of corruption. M., 1999. 33. Kumakhov, Theory of coordination and analysis of enterprises / / Issues of the economy. 1997. 10. 34. LVL JV The informal economy as a global-historical phenomenon / / Shadow Economy: An Economic and social aspects: Probl.-thematic. Sat Moscow: Social Sciences, 1999. 35. LVL JV Long shadows of society "bright future", two interpretations of the experience / / Problems of Economics. 2000. Number 8. 36. LVL JV Economics of Crime and Punishment: thirty-year anniversary / / / / The origins. No. 4. M., 2000. 37. RJ Levit On the social-psychological component of the institutional changes in the economy / / Economics and Mathematical Methods. 1996. Issue 4. 38. Malakhov, S. In defense of liberalism / / Problems of Economics. 1998. Number 8. 39. Malakhov, C. Transaction costs in the Russian economy / / Problems of Economics. 1997. Number 7.

40. Malakhov, S. Some aspects of the theory of imperfect competition equilibrium / / Problems of Economics. 1996. 10. 41. Malakhov, S. Transaction costs and macroeconomic equilibrium / / Problems of Economics. 1998. 11. 42. Machlup F. Theory of firm: marzhinalistkie, behavioristic, and management / / The Firm / Ed. VM Halperin. Spb., 1995. 43. Menard C. Economy organizations. M., 1996. 44. Milgrom P., Roberts J. Economics, Organization and Management. St Petersburg., 1999. V.1-2. 45. A. Nekipelov Kvazirynok as a result of the Russian reforms / / Pro et Contra. 1999. V.4. . 2. 46. Nelson R. Winter S. An Evolutionary Theory of Economic change. M., 2000. 47. North D. Institutional change: a framework of analysis / / Problems of Economics. 1997. Number 3. 48. North D. Institutions and economic growth: a historical introduction / / THESIS. 1993. T. 1. No. 2. 49. Nureyev RM Fundamentals of economic theory. M., 1997. Ch. 12. 50. Nureyev, RM, Latov Y. "The Fruits of Enlightenment" (the Russian neoclassicism and neoinstitutionalism the third millennium / / Problems of Economics. 2001. 1. 51. Nureyev RM Theories of development: the institutional concept of a market economy / / Problems of Economics. 2000. Number 6. 52. Oyken B. Basic economic policy. M., 1995. 53. Oleinik, AN Costs and prospects for reform in Russia (institutional approach) / / The origins. No. 3. M., 1998. 54. Oleinik, AN Institutional Economics. Tutorial / / Problems of Economics. 1999. 1-12. 55. Oleinik, AN Scenarios for the institutional development of a transitional society / / MEiMO. 1996. 12 56. Oleinik, AN Institutional aspects of social and economic transformations. Moscow: TEIS, 2000. 57. Olson M. The logic of collective action. M., 1995. 58. Olson, M. dispersal of power and society in transition. Drugs of corruption, decay, and a slowdown in economic growth / / Economics and Mathematical Methods. 1995. Issue 4. 59. Olson, M. The role of morality and motives of the society / / Problems of Economics. 1993. Number 8. 60. Olsevich Y. On the national economic thinking / / Problems of Economics. 1996. Number 9. 61. Offe C. Political Economy: Sociological Aspects / / Political Science: New Directions / ed. R. Gudina and H.-D. Klingemana. M., 1999. 62. Pantin, V. Lapkin VV The value orientations of the Russians in the 90s / / Pro et Contra. 1999. V.4. . 2. 63. R. Pipes, Property and Freedom. Moscow: Moscow School of Political Studies, 2000. 64. Polanyi K. The self-regulating market and fictitious commodities: labor, land and money / / THESIS. 1993. T. 1. No. 2. 65. Polterovich V. Institutional traps and economic reforms / / Economics and Mathematical Methods. 1999. Number 2. 66. Radaev V. Russian business: the structure of transaction costs / / Social Sciences and the present. 1999. Number 6. 67. Ryazanov, VT Russia's economic development. St Petersburg., 1998. 68. E. Rih Economic Ethics. M., 1996. 69. Rawls J. A Theory of Justice. Novosibirsk, 1995. 70. Rukavishnikov V., L. Hulman, Esther P. Political Culture and Social Change. M.: Matching, 1998. 71. Simon H. Rationality as process and product of thought / / THESIS. 1993. V.1. Vyp3. 72. Simon, The theory of decision making in economics and behavioral science / / The Firm / Ed. VM Halperin. Spb., 1995. 73. J. Sapir Economic culture, technological culture, organizational culture (Materials for the interpretation of economic history of Russia and the USSR) / / / / The origins. No. 3. M., 1998. 74. September A. On ethics and economics. M., 1996. 75. E. Soto, The Other Path. The Invisible Revolution in the Third World. M., 1995. 76. Stark, D. Geterarhiya: the ambiguity of the assets and organization of diversity in post-communist countries / / Economic Sociology. www.ecsoc.msses.ru 2001. V.2. Number 2. 77. Stiglitz, J. Where are the reforms? (By the decade beginning of transients) / / Problems of Economics / / 1999. Number 7.

78. Tambovtsev B. Institutional dynamics in a transition economy / / Problems of Economics. 1998. Number 5. 79. Tambovtsev VL Institutional changes in the Russian economy / / Social Sciences and the present. 1999. Number 5. 80. Tambovtsev VL The contract model of the firm's strategy. Moscow: TEIS, 2000. 81. Tambovtsev VL The state and the economy. MA: Master, 1997. 82. Thevenot L. Multiplicity of modes of coordination: balance and rationality in a complex world / / Problems of Economics. 1997. 10. 83. Thevenot L. Rationality and social norms: the tensions / / Economic Sociology. www.ecsoc.msses.ru 2001. V.2. Number 1 84. Titov VN Clothing market as a social institution / / Social Sciences and the present. 1999. Number 6. 85. D. Travin Decade of the Russian market: from crisis to crisis / / Pro et Contra. 1999. V.4. . 2. 86. Turrou L. The future of capitalism. As today's economic forces shape tomorrow's world? Novosibirsk, 1999. 87. Williamson, O. Behavioral prerequisites of modern economic analysis. / / THESIS. V.1. Vyp3. 1991. 88. Williamson O. The Economic Institutions of Capitalism. Spb., 1996. 89. Tabor, D. The internal and external markets / / Problems of Economics. 1997. 10. 90. Hayek, F. Pernicious arrogance. Errors of Socialism. M., 1992. 91. Hayek, FA Fatal conceit. Errors of Socialism. M., 1992. 92. Hodgson, J. habits, rules, and economic behavior / / Problems of Economics 2000. Number 1. 93. Shastitko AE Externalities and transaction costs. M., 1997. 94. Shastitko AE Institutions as public goods / / Vestnik MGU, Ser. The economy. 1996. Number 5. 95. Shastitko AE Model of rational economic behavior of human / / Problems of Economics 1998. Number 5. 96. Shastitko AE Neoinstitutionalism / / Vestnik MGU, Ser. The economy. 1997. Number 6. 97. Shastitko AE Transaction costs / / Problems of Economics. 1997. Number 7. 98. Shastitko AE The economic theory of institutions. M., 1997. 99. Shastitko AE The new institutional economics. M., 1999. 100. Aimard Duvernet E. Convention and the quality of multiple forms of coordination / / Problems of Economics. 1997. 10.
COURSE CALENDAR

Class work Wee k Topic

Lecture #1. The object of study of institutional economics and its place in modern economic theory Tutorial #1 Lecture #2. Model of human behavior in institutional economics Tutorial #2 Lecture #3. Transaction costs Tutorial #3 Lecture #4. The theory of economic organizations Tutorial #4 Lecture #5. Organization and group theory Tutorial # 5 Lecture #6. Contract Theory 1 Tutorial #6

Lectur Lab es

Chapters for reading

TSIS (teachers SIS (students supervised independent study) independent study) Distribution of Distribution of individual tasks for individual SIS. tasks for TSIS. SIS 1 TSIS 1 SIS 2 TSIS 2

[1] 1.1 [2] 2.1-2.2

[1] 1.2 [2] 2.3-2.4 [1] 1.3 [2] 2.5-2.6 [1] 1.4 [1] 1.5

3 4

2 2

1 1

SIS 3 SIS 4

TSIS 3 TSIS 4

5 6

2 2

1 1

SIS 5

TSIS 5 TSIS 6

[1] 1.6

SIS 6

7 8 9

10

11

Lecture #6. Contract Theory 2 Tutorial #7 Mid term Lecture #7. Postcontract opportunism Tutorial # 8 Lecture #8. Fundamentals of the theory of property rights Tutorial #9 Lecture #9. The principles of efficient allocation of property rights Tutorial # 10 Lecture #10. The formation of property rights Tutorial # 11 Lecture #11. Ownership of the complex objects. The closed form of business organization Tutorial #12 Lecture #12. Open forms of business organization. Tutorial #13 Lecture #13. Theoretic state (1, 2, part 3) Tutorial #14 Lecture #14. Economic Soviettype Institutes Tutorial # 15 End term

2 2 2

1 1 1

[1] 1.6 [2] 2.7-2.8 [1] 1.7 [1] 1.8 [1] 1.9 [2] 2.8-2.9 [1] 1.10

SIS 7 SIS 8 SIS 9

TSIS 7 TSIS 8 TSIS 9

SIS 10

TSIS 10

SIS 11

TSIS 11

12

[1] 1.11 [2] 2.9-2.10 [1] 1.12 [2] 3.1-3.2 [1] 1.13 [2] 3.3-3.4 [1] 1.14

SIS 12

TSIS 12

13 14

2 2

1 1

SIS 13 SIS 14

TSIS 13 TSIS 14

15

2 2

1 In written form

SIS 15

TSIS 15

Final Exam

A problem and a quiz

Laboratory works Week Laboratory work Tutorial #1. The object of study of institutional economics and its place 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
in modern economic theory Tutorial #2. Model of human behavior in institutional economics Tutorial #3. Transaction costs Tutorial #4. The theory of economic organizations Tutorial #5. Organization and group theory Tutorial #6. Contract Theory 1 Tutorial #7. Contract Theory 2 Tutorial #8. Postcontract opportunism Tutorial #9. Fundamentals of the theory of property rights Tutorial #10. The principles of efficient allocation of property rights Tutorial #11. The formation of property rights Tutorial #12. Ownership of the complex objects. The closed form of business organization Tutorial #13. Theoretic state (1, 2, part 3) Tutorial #14. Economic Soviet-type Institutes Tutorial #15. Course outcomes

Cost (in points) 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 15

Total Teachers supervised independent study of students (TSIS)

Week

1-3

TSIS SIS 1. Topic presentation number 1

Cost (in points)

4-7 9 10 11 12-15

Family and family relationships in terms of classical theory and the theory neoinstitutionalism SIS 2. Topic presentation number 2 Institutional interpretation of the family budget SIS 3. essay number 1. Trasaktsionnye costs. SIS 4. essay number 2. specific assets SIS 6. Essay number 3. types of Contracts Individual project Total

1 1 1 1 10 15

Students independent study (SIS)

Week SIS TSIS 1. Solving problems on "order of formation and liquidation of the enterprise" TSIS 2. Solving problems on "fixed asset" TSIS 3. Solving problems on "Intangible Assets" TSIS 4. Solving problems on "Current Assets" TSIS 5. Solving problems on "Human Resources Enterprise," TSIS 6. Solving problems on "Costs of Enterprise" TSIS 7. Solving problems on "Profit and profitability" TSIS 8. Solving problems on "financial condition of the enterprise" Total Cost (in points)

1-2 3-4 5-6 7-8 9-10 11-12 13-14 15

0,5 1 1 1 1 1 1 1 7.5

COURSE ASSESSMENT PARAMETERS Type of activity Attendance/participation Laboratory works SIS TSIS Midterm and Endterm Final Exam Total Weeks # 1. 2. 3. 3. 4. 5. Assessment criteria 1 Attendance/participation Laboratory works SIS TSIS Midterm and Endterm Final Exam Total * * * 2 * * * 3 * * * * * * 4 * 5 * * * * * * 6 * 7 * * * 8 * 9 * * * * 10 11 12 13 * * * * * * * * * * * * * 14 * * *

Final scores 7.5% 15% 7.5% 15% 15% 40% 100% Total scores 15 * * * * * * 1617 7.5% 15% 7.5% 15% 15% 40% 100%

Lectures are conducted in the form of supervising of SIS on understanding of theory of given course, that is why students supplied with handouts uploaded into the intranet. Activity on lectures is required and is one of the constituent of final score. Mandatory requirement is preparation to each lesson. Laboratories are organized in the form of research using special software (MatLab, Simulink, Electronic Workbench) in computer classes. The preparation to the laboratories is provided in the form of solving of typical problems according to the lectures topics, which within experiments with laboratory equipment is one of the most important tools of understanding architecture of computer systems.

Grading policy: Intermediate attestations (on 7th and 15th week) join topics of all lectures, laboratories, SIS, TSIS and materials for reading discussed to the time of attestation. Maximum number of points within attendance, activity, SIS, TSIS and laboratories for each attestation is 30 points. Final exam joins and generalizes all course materials, is conducted in the complex form with quiz and problem. Final exam duration is 100 min. Maximum number of points is 40. At the end of the semester you receive overall total grade (summarized index of your work during semester) according to conventional KBTU grade scale. ACADEMIC POLICY Students are required: to be respectful to the teacher and other students; to switch off mobile phones during classes; not to cheat. Plagiarized papers shall not be graded; to meet the deadlines; to come to classes prepared and actively participate in classroom work; to enter the room before the teacher starts the lesson; to attend all classes. No make-up tests are allowed unless there is a valid reason for missing them; to follow KBTU academic policy regarding W, AW, I, F grades. Students are encouraged to consult the teacher on any issues related to the course; make up within a weeks time for the works undone for a valid reason without any grade deductions; make any proposals on improvement of the academic process; track down their continuous rating throughout the semester. Senior Lecturer of Economics and Management Department A.Azhmuhamedova

Minutes # 1 of department meeting on August, 16 2011. Chairman L.Salykova