ECON410

Prerequisite: Minimum grade of C- in ECON325 and ECON326; and 1 course with a minimum grade of C- from (ECON321, STAT401). Restriction: Must be in Economics Bachelor of Science program. Institutions are the sets of rules that constrain the decisions and interactions of economic agents. The course uses economic analysis to understand both formal institutions (e.g. laws) and informal institutions (e.g. cultural norms). Practical examples are drawn from economics, law, and politics, and reflect the experience of many different countries.