The concept of ’New Institutionalism' is originated from Economics, especially from Ronald Coase's writing-The Nature of Firm in 1937, which applied transaction cost concept to analyze the economic organization and modified some hypnoses of the New Classic Economic, and had became a perspective of researching institution. The New Institutionalism of institution research is not only applied in Economics, in recent years, but also in Sociology and Political Science. What is ‘New Institutionalism'? What are the differences in these subjects? This text attempts to c1arifythese questions. Secondly, it will review the application of New Institutionalism in many areas and some concepts within. By doing this, it hopes to present a holistic view of New Institutionalism.