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Also, you need to learn how to force institutions to spawn. Nations outside of Europe can easily be the world leaders in every tech if you do. Develop one province repeatedly until the institution you need appears there. Ideally, that province will be in your capital state (so its GC cost remains very low) and have a high value trade good. Develop subsequent institutions in neighboring provinces so that they spread very quickly.
Oh yeah I force spawn institutions all the time lol, they just eat up at your monarch points, and it feels like with the old eco+quantity ideas it would be cheaper and allow you to play tall and wide at the same time.
And what do you mean by the were only worthwhile in multiplayer? I've never played online because I want to master the game first so I have no idea
In single player, on the other hand, the AI isn't smart enough to do that. There is always an opportunity to blob somewhere. In single player, developing province or "playing tall" is always objectively less efficient than blobbing and playing extremely wide. You can devote the entirety of your Admin and Diplo power income to constant expansion through conquest in single player; in multiplayer this is not even vaguely possible, as each individual war takes so long and costs so much to win. You can ignore buffing up your military quality altogether in single player by simply playing smarter than the AI and using the mechanics of combat to your advantage, leaving your idea group slots to be filled with bonuses that let you expand faster and more efficiently. Other players, on the other hand, usually don't possess the fundamental lack of understanding of combat mechanics that the AI does; army quality and size matter far more for your survival in multiplayer, and differences in skill mostly just boil down to "how good are you at micro'ing one to three dozen army stacks and reinforcing WW2-sized battles with them".
In short, the only experience that translates over from single to multiplayer is the understanding of fundamental game mechanics; the way the game is played is so thoroughly different that it might as well be a separate game altogether. The meta is completely different, as well as what stats and mechanics are considered important or irrelevant.
--You're force spawning an institution, as previously discussed
--An estate agenda or mission requires you to do so
--There's literally nothing else you can do with the points (but this should rarely if ever happen if you blob)
The rest of the time, spend monarch points on tech, ideas, military leaders, coring conquests, and annexing vassals. It's far more points-efficient to take development from others than to grow your own--and conquest hurts your enemies at the same time, so it's even more effective.
That's why Econ has never been a top idea group for single player, even before the recent changes. Idea groups that help you blob are supreme (Admin, Diplo, Influence, Exploration if you're an early colonizer, Expansion, Religious or Humanist).
You only need to force spawn Renaissance, Colonialism and Printing Press (rarely Feudalism) and at least Ren. and Col. happen before you should be able to get something out of the dev cost reduction from Eco.
Each Institution spawns roughly every 50 years, starting with 1450 for Renaissance. Adapt your gameplay to this and save up monarch points accordingly. For example, you are usually able to reach tech four in everything around the mid 1450s and Renaissance has usually spawned by then. Thats the point where you save up and use your monarch points to get Renaissance instead of tech 5. Situationally you can also get military tech 5 instead, for a massive advantage if you want to wage a particularly difficult war. Thats for you to decide.
The policies with Infrastructure are rather forgettable from a multiplayer point of view, though; people may still end up taking Economic as their fourth or fifth idea group after the changes just for the economic and army quality policies tied to it.
They weren't really worth it even before. I mainly got them for the +5% discipline alongside quality, but that's only in certain circumstances where I'm playing for army quality or something instead of just trying to conquer. I know they're sub-optimal otherwise. Nothing's really changed from that perspective. It may be -10% dev cost instead of -20%, but that's not really what I was getting them for, it was just a nice bonus on top. So they're not that much worse.
Although it looks like they're being nerfed even further in the next patch and completely losing the dev cost reduction. Even further relegating them to only being used for my Prussian space marine games (if even then!).