INSTITUTIONAL ECONOMICS

Scienze Politiche e delle Relazioni Internazionali INSTITUTIONAL ECONOMICS

1212100081
DEPARTMENT OF POLITICAL AND COMMUNICATION SCIENCES
EQF6
POLITICAL AND INTERNATIONAL RELATIONS SCIENCE
2022/2023



YEAR OF COURSE 3
YEAR OF DIDACTIC SYSTEM 2019
AUTUMN SEMESTER
CFUHOURSACTIVITY
640LESSONS
Objectives
AIMS OF THE COURSE
THE MAIN AIM OF THE COURSE IS TO PROVIDE AN IN-DEPTH UNDERSTANDING OF THE LIMITS OF MARKET-FUNCTIONING THROUGH THE ANALYSIS OF MARKET FAILURES AND OF THE ROLE PLAYED BY INSTITUTIONS IN OVERCOMING SUCH FAILURES.

EXPECTED LEARNING OUTCOMES:

-KNOWLEDGE AND COMPREHENSION ABILITY
KNOWLEDGE OF THE DIFFERENT COMPONENTS OF INSTITUTIONAL SYSTEMS MEANT AS RULES, BELIEFS, NORMS AND ORGANIZATIONS AND THE ABILITY TO SINGLE OUT HOW THEY MAY JOINTLY GENERATE A BEHAVIOURAL REGULARITY.

-ABILITY TO APPLY KNOWLEDGE AND COMPREHENSION
THE ABILITY TO UNDERSTAND THROUGH A COMPARATIVE ANALYSIS HOW DIFFERENT INSTITUTIONAL SYSTEMS MAY AFFECT THE ECONOMIC PERFORMANCES OF COUNTRIES AND SMALLER COMMUNITIES.
Prerequisites
THERE ARE NO REQUIREMENTS TO TAKE THIS COURSE.
Contents
-INTRODUCTION TO INSTITUTIONS MEANT AS INSTITUTIONAL SYSTEMS. INSTITUTIONS AND MARKET FAILURES (3 HOURS OF LECTURES).
-MARKET AS AN EFFICIENT WAY TO ALLOCATE RESOURCES (6 HOURS OF LECTURES).
-MARKET FAILURES (1 HOUR OF LECTURING).
-EXTERNALITIES, 'THE TRAGEDY OF THE COMMONS' AND PROPERTY RIGHT DEFINITION (4 HOURS OF LECTURES).
-COASE THEOREM AND TRANSACTION COSTS (2 HOURS OF LECTURES).
-COMMON PROPERTY RESOURCE MANAGEMENT (4 HOURS OF LECTURES)
-PUBLIC GOOD PROVISION AND SOCIAL NORMS (4 HOURS OF LECTURES).
-INCOMPLETE CONTRACTS AND ENFORCEMENT MECHANISMS (4 HOURS OF LECTURES).
-AGENCY PROBLEMS AND INSTITUTIONS (2 HOURS OF LECTURES).
ANALYSIS OF CASE STUDIES OF INSTITUTIONS AND MARKET FAILURES (10 OF SEMINARS).
Teaching Methods
THE COURSE CONSISTS OF 30 HOURS OF LECTURES AND 10 HOURS OF SEMINARS.
AS MOST OF THE TOPICS ARE CHARACTERIZED BY A MATHEMATICAL APPROACH, I STRONGLY RECOMMEND THAT STUDENTS ATTEND THE CLASS. THE OTHER STUDENTS CAN STUDY THE TEXTS SUGGESTED IN THE READING LIST.
LECTURES WILL BE IN ITALIAN, WHEREAS FOR THE SEMINARS, SOME OF THE ARTICLES WILL BE IN ENGLISH.
Verification of learning
FOR THE STUDENTS WHO ATTEND THE CLASS, THEIR ASSESSMENT WILL CONSIST IN A WRITTEN ESSAY AT THE END OF THE SEMINARS AND AN ORAL EXAM. FOR THE OTHERS, THERE WILL BE ORAL EXAM. THE AIM OF THE EXAM IS TO ASSESS WHETHER STUDENTS HAVE UNDERSTOOD MARKET FAILURES AND HOW INSTITUTIONS ALLOW TO OVERCOME THEM.
THE GRADES ARE ON A BASE OF 30.
Texts
TEXTBOOKS COMMON TO ALL STUDENTS
FRANK, R. H., MICROECONOMIA, CHAP. 16 'EQUILIBRIO GENERALE ED EFFICIENZA DI MERCATO', PP. 595-612; CHAP. 17 'ESTERNALITÀ, DIRITTI DI PROPRIETÀ E TEOREMA DI COASE', PP. 625-634, MCGRAW-HILL, 1997.
VARIAN, H. R., MICROECONOMIA, CHAP. 31 'ESTERNALITÀ', PP. 517-535; CHAP. 32 'BENI PUBBLICI' PP.536-549, CAFOSCARINA, 1987.
MILGROM, P., ROBERTS, J., ECONOMIA, ORGANIZZAZIONE E MANAGEMENT, CAP. I 'L'IMPORTANZA DELL'ORGANIZZAZIONE', PP. 19-42; CHAP. II 'ORGANIZZAZIONE ECONOMICA ED EFFICIENZA', PP. 45-80; CHAP. V 'RAZIONALITÀ LIMITATA ED INFORMAZIONI PRIVATE', PP.199-218, PP. 229-250, IL MULINO, 2005.
INSTRUCTOR'S NOTES ON COMMON PROPERTY RESOURCE MANAGEMENT.
THOSE WHO DO NOT ATTEND THE CLASS WILL CHOOSE AN ARTICLE OR A REPORT CHAPTER IN THE READING LIST UPDATED EVERY YEAR AND PUBLISHED ON MY WEBSITE.

More Information
DURING THE COURSE, ON MY WEBSITE, I WILL PUBLISH A READING LIST WITH THE ARTICLES THAT STUDENTS - IN A GROUP WITH A MAXIMUM OF FIVE PEOPLE - WILL PRESENT. EACH GROUP CAN CHOOSE AMONG THE ARTICLES. ALL THE TOPICS DISCUSSED DURING THE SEMINARS WILL BE THE OBJECT OF THE WRITTEN ESSAY.

E-MAIL PINAUT@UNISA.IT, TEL. 089962659.
MY OFFICE HOURS WILL BE CONSTANTLY UPDATED ON MY WEBSITE (HTTP://DOCENTI.UNISA.IT/003708/HOME).
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