Behavioral Economics
ECON 211
Fall 2009 not offered
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Behavioral economics incorporates insights from other disciplines, such as psychology, sociology, and neuroscience, into economic models. These insights often induce economists to modify their theories of how people behave individually, socially, and in markets, expanding the concept of Homo Economicus to accommodate such phenomena as altruism, fairness, identity, and time-varying discounting. The course will draw on psychological topics such as impulsivity, loss-aversion, overconfidence, self-serving biases, and hedonics; sociological topics such as status, identity, and social networks; and new evidence on social preferences, cooperation, trust, and punishment from neuroeconomics. The course will focus on developing public policy recommendations for such behavioral phenomena as credit card borrowing, portfolio choice, retirement saving, procrastination, addiction, crime, discrimination, affirmative action, unemployment, charitable giving, and public health. Classroom experiments and demonstrations will be occasionally conducted to illustrate key theoretical concepts and empirical regularities. |
Essential Capabilities:
Quantitative Reasoning This course will emphasize such skills as: developing reliable methods of measurement, analyzing empirical data and formulating mathematical theories and understanding their behavior
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Credit: 1 |
Gen Ed Area Dept:
SBS ECON |
Course Format: Lecture / Discussion | Grading Mode: Student Option |
Level: UGRD |
Prerequisites: ECON110 OR ECON101 |
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Fulfills a Requirement for: (ECON-MN)(ECON) |
Major Readings:
Research papers and class notes available electronically via course web page, through the library e-journal collection or distributed in class.
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Examinations and Assignments: Group projects and presentations, participation in experiments, short in-class and take-home quizzes. There will be no final exam. |
Additional Requirements and/or Comments: Previous coursework in psychology, sociology and/or neuroscience is helpful, but not required. |
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