Institutional Economics: Overview and Structure
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Questions and Answers

According to institutional economics, what is the primary factor influencing the differences in prosperity among countries?

  • The societal institutions and their development. (correct)
  • The availability of natural resources within their borders.
  • The geographical location and climate.
  • The size and demographics of the population.

Which of the following best describes the term 'institutions' in the context of institutional economics?

  • The technological infrastructure available in a country.
  • The physical buildings that house government functions.
  • Formal and informal rules, laws, and organizations that shape human behavior. (correct)
  • The cultural norms and traditions of a society.

What is the 'reversal of fortune' phenomenon in the context of colonization, as discussed in institutional economics?

  • The richest colonizers becoming the poorest and vice versa.
  • The colonizers ultimately adopting the institutions of the colonized.
  • The places that were rich before colonization are now poorer, and those that were poor are now richer. (correct)
  • The initial economic systems of colonized areas reverting to their original state after independence.

Why is a lack of trust between the ruling elite and the masses a barrier to changing an existing economic and political system?

<p>It increases the perceived risk associated with institutional reforms, hindering collective action. (D)</p> Signup and view all the answers

How do measures of a state's administrative capacity and quality of government typically correlate with human well-being?

<p>They demonstrate strong positive effects on standard measures of human well-being, including subjective measures of life satisfaction. (C)</p> Signup and view all the answers

In institutional economics, which characteristic of institutions is highlighted when considering the impact of colonization on different regions?

<p>Institutions are endogenous and shaped by historical and political processes. (A)</p> Signup and view all the answers

Which of the following is NOT a primary theme covered in the course structure?

<p>Global Warming and Climate Change (D)</p> Signup and view all the answers

What percentage of the final grade is determined by group presentations?

<p>15% (C)</p> Signup and view all the answers

What is a key challenge faced by elites when attempting to reform institutions that exploit the masses?

<p>The risk of losing power and economic advantages. (D)</p> Signup and view all the answers

Which of the following scenarios best illustrates the 'persistence of institutions' concept?

<p>A nation with a history of corruption struggles to establish transparent governance despite reforms. (A)</p> Signup and view all the answers

Which of the following best describes the focus of the group research proposal?

<p>Identifying a research question and using a global dataset to develop a proposed research design. (A)</p> Signup and view all the answers

What is the primary focus of the group presentation?

<p>Introducing a global dataset, covering its data collection process, visualization, applications, and limitations. (B)</p> Signup and view all the answers

Which of the following is least likely to be considered as a factor when studying institutional economics?

<p>Prevailing weather patterns. (D)</p> Signup and view all the answers

If a student has absences for more than 20% of the sessions, what is the likely consequence, according to the classroom policies?

<p>The student's final grade will be reduced, and they may face penalties according to IE's attendance policy. (D)</p> Signup and view all the answers

What is the format of the final exam?

<p>Multiple-choice, true/false, and short open questions. (C)</p> Signup and view all the answers

Before which of the following assessment components will review sheets be posted?

<p>Before the midterm and final exams (C)</p> Signup and view all the answers

According to the content, under what condition are countries most likely to experience significant institutional change?

<p>If ruling elites are threatened with widespread revolt by organized citizens. (B)</p> Signup and view all the answers

What is the primary mechanism by which elites may transition a society towards democratization, as mentioned in the content?

<p>By handing over power to citizens when faced with the threat of revolution. (D)</p> Signup and view all the answers

The 'Progressive Era' is presented as a response to what specific historical condition?

<p>Rising inequality and concentrated power resulting from rapid technological advancements. (C)</p> Signup and view all the answers

How might the rise of Artificial Intelligence (AI) be considered a 'critical juncture' in societal development?

<p>By potentially shifting the balance of power between capital and labor, as well as professional and manual labor. (A)</p> Signup and view all the answers

According to the theories presented, what is a key factor that can influence the level of democracy in a society?

<p>The degree of economic inequality and modernization. (B)</p> Signup and view all the answers

What does the content suggest about the direct correlation between human well-being and the level of representative democracy?

<p>The correlation is quite low, indicating that representative democracy alone may not guarantee human well-being. (B)</p> Signup and view all the answers

What aspects are considered key 'quality-of-government' factors influencing the 'output side' of the political system?

<p>Administrative capacity, the rule of law, and the control of corruption. (D)</p> Signup and view all the answers

What are some examples of institutional variations that can result in different types of democracies?

<p>Electoral system, party system, legal system, and federal versus unitary system. (C)</p> Signup and view all the answers

Flashcards

Institutional Economics

Field studying the formation and impact of institutions on prosperity.

Institutions

Structures like property rights, laws, and political arrangements influencing economic distribution.

Income Gap

The disparity in income levels between rich and poor countries, often stable over time.

Endogenous Institutions

Institutions that evolve from within a society and reflect its social dynamics.

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Role of Colonization

Colonization altered institutions in colonized regions, impacting wealth distribution.

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Reversal of Fortune

Wealthy regions before colonization are often poorer now compared to once-poor regions.

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Persistence of Institutions

Institutions that favor elites hinder economic growth; inclusive institutions promote it.

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Credibility Problem

Difficulty in changing systems due to mistrust between elites and masses.

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Exploitive Institutions

Institutions that create inequality between a wealthy elite and impoverished masses.

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Democratization

Process through which power is transferred to citizens, often following a threat of revolution.

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Critical Juncture

A significant turning point that influences the future direction of institutions.

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Modernization Theory

Economic theory suggesting that as societies develop, they become more democratic.

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Extractive Institutions

Institutions that take resources from the majority for the benefit of a few.

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Inclusive Institutions

Institutions that distribute resources broadly and empower the majority.

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Types of Political Institutions

Variations in political structures such as electoral systems and governance types.

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Democratic Backsliding

The gradual decline of democracy and its associated rights.

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Good Governance

Quality of government that positively impacts human well-being.

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Administrative Capacity

A state's ability to implement policies effectively and efficiently.

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Corruption

Abuse of power for personal gain, harming governance quality.

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Human Well-Being

Measures of life satisfaction, happiness, and quality of life.

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Social Trust

Confidence in the reliability and integrity of others in society.

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Political Legitimacy

Public acceptance of a government's authority and decisions.

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Institutions and Prosperity

The relationship between effective institutions and economic success.

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Study Notes

Institutional Economics Course Information

  • Course instructor: Dr. Siyun Jiang
  • Course code and semester: BIE Jan-2025
  • Course sessions: 1-2
  • Instructor's background: PhD in Government, The University of Texas at Austin, MPhil in Social Science, Hong Kong University of Science and Technology, BA in Sociology, Sun Yat-Sen University, China

Course Structure

  • Session 1-2: Introduction
  • Session 3-6: Theory of Institutions
  • Session 7-10: Institutions and Prosperity
  • Session 11-16: Democratization, Redistribution, and Growth
  • Session 17-24: Political Institutions and Development
  • Session 25-30: Presentations and Review

Reading Materials

  • Institutions, Institutional Change and Economic Performance by Douglass C. North
  • Why Nations Fail by Daron Acemoglu and James A. Robinson

Evaluation

  • Group Presentation (15%)
  • Group Research Proposal (20%)
  • Midterm (20%)
  • Final Exam (30%)
  • Class Participation (15%)
    • Sessions 25-28: Group presentations on global datasets.
    • Session 14: Exam and Reviews.
    • Sessions 29-30: Final exam with multiple choice, true/false, & short answer questions.
    • Group projects (4-6 students) should identify a research question, use a global dataset, and prepare a research design proposal.

Classroom Policies

  • Session 1-12 (09/01 - 13/02):
    • First session: 12:00 - 13:20 (first 10 minutes for check-in)
    • Break: 13:20 - 13:40
    • Second session: 13:40 - 14:50
  • Session 13-30 (26/02 - 21/05):
    • First session: 8:30 - 9:50 (first 10 minutes for check-in)
    • Break: 9:50 - 10:10
    • Second session: 10:10 - 11:20

Clarifications

  • Reading materials will be posted on Blackboard.
  • Additional readings will not be covered in exams.
  • The final exam will be closed-book and held on Blackboard.
  • Announcements and review sheets will be available before deadlines.
  • Group presentations should cover the global dataset's topic, data collection, visualizations, applications, and limitations.
  • Research proposals should center on how to utilize the dataset to address the research question.

Attendance Policy

  • Maximum 20% of sessions allowed for absences.
  • Qwickly Attendance will be used for tracking.
  • Waivers are possible under exceptional circumstances (serious illness, visa delays, travel restrictions).
  • Written, documented requests to the Program Management Team are necessary.
  • Remote attendance will not be counted towards attendance percentage or class participation grade.

Communication

  • Do not use the Blackboard email system for course-related inquiries.
  • Contact the instructor at [email protected].
  • In-person/Zoom meetings are available between 11:00 and 13:00 on Mondays and 15:00 and 17:00 on Thursdays; email appointments are required.

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Related Documents

BIE Session 1-2 PDF

Description

Explore the structure of the Institutional Economics course BIE Jan-2025 with Dr. Siyun Jiang. Understand how the course will progress, from the theory of institutions to political institutions and development. Reading materials include key texts by Douglass C. North, Daron Acemoglu, and James A. Robinson.

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