ECO 504 - Behavioral Economics

Research continues to demonstrate that the economic decisions of individuals and groups deviate, sometimes dramatically, from those predicted by the standard economic theory’s rational actor model. Behavioral economics seeks to explain the economic decision making of consumers and citizens, as psychologically complex, cognitively limited, emotional, social decision makers. This course explores the foundations of behavioral economics and how this rapidly changing subfield informs the larger field of economics. Topics include bounded rationality, prospect theory, reference dependence, social preferences, framing, and priming, moral balancing, and applications of behavioral economics to public policy.

Prerequisites & Notes
Graduate standing in the School of Economics or permission

Credits: 3