Recent economic studies are increasingly focusing on the interdisciplinary agenda. The pioneer works by the Nobel laureates G. Ackerlof, R. Shiller, and well- known economists D. Snower, D. Rodrik, S. Mukand, P. Collier emphasize the role of narratives in economics. Narratives are a valuable source of qualitative data for better understanding and modeling human behavior. Narrative discourse facilitates distribution of ideas, providing a framework for iterative economic interactions. Being widespread, ideas are increasingly perceived as the rules of interactions, providing informal or formal basis for institutions. Distribution of narratives requires a clear form, easily understandable for the masses. Thus, a range of studies appeal to the concept of narrative along with that of meme. Memes enable ideas which influence economic and political processes, to be easily disseminated and replicated. Distribution of narratives, memes and ideas depend on many factors including: their complementarity to embedded social values, culture, and actors' beliefs and perceptions; dynamics of implicit and explicit knowledge dissemination; feedback effects, etc. Both qualitative and quantitative research methods are relevant for research on narratives, ideas and institutions, depending on the specificity of research questions and research objectives. Today narrative analysis provides an effective framework for economic policy research and empirical studies in institutional change.