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Th e subject of this essay is conceptualization of political institutions as an important research fi eld for the theory of politics. An article is divided into seven parts. Th e fi rst section reminds of the traditions in the institutional political studies. Th e second part embraces a conceptual analysis and traces a tendency in the political science literature to stretch the concept of institution beyond its original meaning. Th ird part puts attention to the functional approach to the conceptualization of political institutions. And the next part an author points out the many disciplinary aspects of the new institutional analysis, which requires an involvement of many disciplines such as political science, law, political sociology and economy. Th e last three sections are devoted to the relationships between political actor and institutions, the mechanisms of institutional power, and the role of social networks in the institutional analysis.