ECON 368 - Economics, Politics & Culture

Unit(s): 2

This course focuses on formal institutions, (e.g., political structures, laws, and regulations) and informal institutions, (e.g. religion, social norms, and culture) in determining individual and group behavior and ultimately economic performance. Although all economic activity takes place within a framework of institutions, neo-classical economics has overlooked institutions by adhering to the fiction of the frictionless market in its models.

College of Arts and Sciences