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Status: Required course


Period: Fourth year, Second semester


ECTS credits: 4


Class hours: 45 (45 lectures)


Language: Bulgarian




Prerequisites: Completed courses in Microeconomics 1 and Macroeconomics 1



Course content:


The course in New Institutional Economics aims to present a new and dynamic trend in the development of the standard economic analysis. Specific examples are used to introduce the ideas of positive transaction costs, the importance they have for the institutions , the role of knowledge, culture and institutional change in the long-term economic development. The theoretical considerations relate to the development of Bulgaria during the period of transition and integration into the EU and give a new perspective and interpretation of events during this period.



Course aim:


The objective of the course is to give students knowledge of the theoretical and empirical aspects of an important new direction in economic science.



Intended learning outcomes;


- Understand basic concepts and definitions in the New Institutional Economics


- Know the basic patterns of institutional change and economic development according to the New Institutional Economics


- Apply institutional analysis to real life situations