Institutional Economics

May 14th, 2015
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Institutional economics is a branch of economics which is used to have a clear perception about the creation as well as role of institutions in shaping economic behavior. It is used to study the role of institutions as well as markets due to the complex relationships which take place between the different institutions like firms, individuals, states etc.

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Institutional EconomicsInstitutional Economics 1. What is institutional economics?Institutional economics is a branch of economics which is used to have a clear perception about the creation as well as role of institutions in shaping economic behavior. It is used to study the role of institutions as well as markets due to the complex relationships which take place between the different institutions like firms, individuals, states etc. It formed a vital aspect of American economic thinking in the early 20th century. Economists like Thorstein Veblen as well John. R.Commons was its major

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