Upon her recent return from the Ronald Coase Institute’s workshop on Institutional Economics in Bogota, Colombia, Melissa van der Merwe, lecturer at the Department of Agricultural Economics, Extension and Rural Development summed her experience up as: “Never in my life have I had the level of intellectual engagement that I experienced during the Ronald Coase Institute workshop. This was truly a mind-blowing experience. I was challenged to think out of the box, and I was inspired to do research that matter. I felt honoured to have been able to tap into so many brilliant minds and will be forever grateful for the opportunity I had.”

Ronald Coase, one of the founding fathers of New Institutional Economics and most famous for his discovery and clarification of transaction costs and property rights, established the Ronald Coase Institute in 2000 with a group of fellow scholars. The Institute’s mission is “To better understand how real economic systems work so that individuals and societies have greater opportunities to improve their well-being.” This Institute was therefore established to assist young scholars whose research has the potential to help transform their economies.

On the 18^th of September 2017, Melissa received the news that she was one of 26 scholars, picked from more than a 100 applicants worldwide to attend the prestigious Ronald Coase Institute’s workshop on Institutional Economics. The workshop was to be held in Bogota, Colombia, during the week of 11 to 15 December 2017. The workshop included scholars from China, India, the Philippines, Chile, Brazil, Israel, South Africa, Canada, the United States and Germany, making it a truly global workshop.

Giants in New Institutional Economics such as Lee Alston, Mary Shirley, Phillip Keefer, Gary Libecap, and Lee Benham filled the first two days with captivating presentations, followed by comprehensive discussions. The excitement and inquisitiveness of the scholars were contagious as these presentations ignited a new passion for New Institutional Economics within everyone present. In South Africa, New Institutional Economics research, particularly in the agricultural economics community, remain relatively unexplored, and Melissa is excited to explore new research avenues in this field.

The willingness of the giants in New Institutional Economics, and their dedication to the discipline manifested in deep engagements with each scholar individually. Throughout the workshop, they were available for in-depth discussions with scholars to address individual research issues, future research agenda’s and to provide career guidance. During the last three days of the workshop, scholars had the opportunity to present their own research, after which they received detailed feedback from both scholars and the giants. Additionally, many of these giants not only offered guidance during the workshop but also encouraged students to keep in touch and to keep opportunities for future collaborations in mind.

During the Ronald Coase Institute’s workshop on Institutional Economics in Bogota, 26 strangers from all over the world, with one shared passion for New Institutional Economics, became lifelong friends. Melissa made many new connections and is excited about her new research agenda following the recent completion of her PhD.

For more information on the Ronald Coase Institute and it's activities please visit: https://www.coase.org/