Behavioral economics incorporates insights from psychology and other social sciences into economics, with the goal of increasing the realism and accuracy of standard economic models. Topics discussed include: risk, beliefs, overconfidence, limited attention, social preferences, emotions, self-control, frames, and nudges. The framework developed from these topics can be applied to wide-ranging concerns such as decisions about savings and consumption choices; financial market participation and credit card use; gambling; procrastination; charitable giving; and happiness. Students may have the opportunity to participate in in-class/lab experiments. Prerequisite: Econ 1011.
Course Attributes: EN S; BU BA; AS SSC