Spring 2007 not offered
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, over-confidence, 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.
||Gen Ed Area Dept:
|Course Format: Lecture/Discussion||Grading Mode: Student Option|
||Prerequisites: ECON110 OR ECON101
||Fulfills a Major Requirement for: (ECON-MN)(ECON)
Research papers and class notes available electronically via course web page.
|Examinations and Assignments: |
Homework assignments, participation in experiments, short in-class quizzes, team presentations and a research project. There will be no final exam.
|Additional Requirements and/or Comments: |
Previous coursework in psychology, sociology and/or neuroscience is helpful, but not required.
Students who complete ECON 211 cannot receive credit towards the econ or MECO major for ECON 311, or vice versa depending on your needs for major credit.
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