Last week, we had a discussion on the role of institutions in the process of development related to the May 2007 Higher Level Paper 3 (Question 5(d): ' Using information from the text and your knowledge of economics, evaluate how institutional and political factors can impact upon the process of economic development').
I had initially planned to ask you to skim through the paper 'Understanding the Relationship between Institutions and Economic Development' but it seems a bit too much for our purposes. I do think though that you could definitely check out this lecture that Prof. Acemoglou gave a few years back and benefit from just a quick reading. The format is easier and faster for a some note taking.
The lecture is titled 'Understanding Institutions'.