ECON 241 - Behavioral Economics

Credits: 4
An introduction to behavioral economics, which uses insights from psychology, political science, anthropology, management and experimental data to improve understanding of traditional economic models of behavior. Behavioral economics considers the ways that people are more social, more impulsive, less adept at using information, and more susceptible to biases than the standard economic models assume. The course gives an overview of key insights from behavioral science and identifies ways in which these findings have been used to advance policies on education, health, energy, taxation, and more. A major goal is to understand how predictions of economic models change when phenomena such as altruism, loss aversion, and self-control problems are considered. Classroom games and experiments will be used to explain observed behaviors, in addition to standard and behavioral models.

 

Prerequisite: ECON 100  

Distribution Requirements: QR, SB.