Faculty of Business and Management Sciences · Economics · Undergraduate
Course Objective
This course provides an introduction to behavioral economics. It aims to familiarize students with the principles and the methods of behavioral economics. In this course, we will study how behavioral economists uses a range of psychological and social phenomena to explain the economic behavior and how these explanations differ from the standard economic models.
Course Content
Behavioral economics analyzes the ways in which “irrationality” influences the preferences, beliefs, judgements and decisions of people. This course will cover the topics such as overconfidence, loss aversion, procrastination, gambling, addiction, over-eating, framing and persuasion. We will discuss these economic behaviors in reference to the standard economic theory.
Course Learning Outcomes
- Students will learn introductory behavioral economics.
- Students will be able to analyze the ways in which “irrationality” influences the decisions of people
- Students will be able to explain the principles and methods of behavioral economics.
- Students will be able to understand how behavioral economics deviate from the standard economic models.
- Students will be able to incorporate psychologically and socially motivated assumptions into the economic models.