InstitutionInstitutions (singular: institution) are humanly devised structures of rules and norms that shape and constrain individual behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions and norms are all examples of institutions. Institutions vary in their level of formality and informality. Institutions are a principal object of study in social sciences such as political science, anthropology, economics, and sociology (the latter described by Émile Durkheim as the "science of institutions, their genesis and their functioning").
Institutional economicsInstitutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior. Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other. Its name and core elements trace back to a 1919 American Economic Review article by Walton H. Hamilton. Institutional economics emphasizes a broader study of institutions and views markets as a result of the complex interaction of these various institutions (e.
Social capitalSocial capital is "the networks of relationships among people who live and work in a particular society, enabling that society to function effectively". It involves the effective functioning of social groups through interpersonal relationships, a shared sense of identity, a shared understanding, shared norms, shared values, trust, cooperation, and reciprocity. Social capital is a measure of the value of resources, both tangible (e.g., public spaces, private property) and intangible (e.g.
Moral developmentMoral development focuses on the emergence, change, and understanding of morality from infancy through adulthood. The theory states that morality develops across a life span in a variety of ways and is influenced by an individual's experiences and behavior when faced with moral issues through different periods of physical and cognitive development. Morality concerns an individual's reforming sense of what is right and wrong; it is for this reason that young children have different moral judgment and character than that of a grown adult.
New institutional economicsNew Institutional Economics (NIE) is an economic perspective that attempts to extend economics by focusing on the institutions (that is to say the social and legal norms and rules) that underlie economic activity and with analysis beyond earlier institutional economics and neoclassical economics. Unlike neoclassical economics, it also considers the role of culture and classical political economy in economic development.
Cognitive developmentCognitive development is a field of study in neuroscience and psychology focusing on a child's development in terms of information processing, conceptual resources, perceptual skill, language learning, and other aspects of the developed adult brain and cognitive psychology. Qualitative differences between how a child processes their waking experience and how an adult processes their waking experience are acknowledged (such as object permanence, the understanding of logical relations, and cause-effect reasoning in school-age children).
Incentive programAn incentive program is a formal scheme used to promote or encourage specific actions or behavior by a specific group of people during a defined period of time. Incentive programs are particularly used in business management to motivate employees and in sales to attract and retain customers. Scientific literature also refers to this concept as pay for performance. Motivation Employee incentive programs are programs used to increase overall employee performance.
2014 Winter OlympicsThe 2014 Winter Olympics, officially called the XXII Olympic Winter Games (XXII Olimpiyskiye zimniye igry) and commonly known as Sochi 2014 (Сочи 2014), were an international winter multi-sport event that was held from 7 to 23 February 2014 in Sochi, Russia. Opening rounds in certain events were held on 6 February 2014, the day before the opening ceremony. These were the first Olympic Games under the International Olympic Committee (IOC) presidency of Thomas Bach.
Special OlympicsSpecial Olympics is the world's largest sports organization for children and adults with intellectual disabilities providing year-round training and activities to 5 million participants and Unified Sports partners in 172 countries. Special Olympics competitions are held every day, all around the world—including local, national and regional competitions, adding up to more than 100,000 events a year.
Gross fixed capital formation(GFCF) is a macroeconomic concept used in official national accounts such as the United Nations System of National Accounts (UNSNA), National Income and Product Accounts (NIPA) and the European System of Accounts (ESA). The concept dates back to the National Bureau of Economic Research (NBER) studies of Simon Kuznets of capital formation in the 1930s, and standard measures for it were adopted in the 1950s.
