Бакалавриат
2023/2024
Поведенческая экономика
Лучший по критерию «Полезность курса для расширения кругозора и разностороннего развития»
Лучший по критерию «Новизна полученных знаний»
Статус:
Курс по выбору (Экономика и статистика)
Направление:
38.03.01. Экономика
Кто читает:
Департамент теоретической экономики
Где читается:
Факультет экономических наук
Когда читается:
4-й курс, 3 модуль
Формат изучения:
без онлайн-курса
Охват аудитории:
для своего кампуса
Преподаватели:
Саху Собхагья
Язык:
английский
Кредиты:
3
Контактные часы:
40
Course Syllabus
Abstract
While traditional microeconomics assumes rationality in human behavior, reality often deviates from this assumption. Humans frequently demonstrate psychological biases in their economic choices. This advanced elective course aims to delve into these biases, offering a comprehensive exploration of contemporary behavioral models that explain this 'irrationality'. The focus is on applying these models to understand the economic decisions of individuals, particularly in developing countries. The course unfolds in three segments: first, it presents a broad spectrum of findings from behavioral economics to illustrate real-world economic decision-making; second, it equips students with theoretical frameworks and modeling techniques to analyze these biases; and third, it introduces the emerging domain of 'behavioral' development economics.
Learning Objectives
- Understand key concepts and theories in Behavioral Economics.
- Analyze how psychological factors impact economic decision-making.
- Apply Behavioral Economics theories to real-world economic problems.
- Develop critical thinking skills in the context of economic behavior.
Expected Learning Outcomes
- Inconsistencies in rational choice model
- Bounded Rationality
- Heuristics and Biases
- Mental Accounting
- Prospect Theory
- Expected Utility Theory
- Puzzles for Expected Utility Theory
- Expectations-Based Reference Points
- Correlation vs. causation
- Behavioral development economics
Course Contents
- Introduction
- Role of context in choice
- Beliefs and Expectations
- Choice under Risk and Uncertainty
- Causal Inference & RCT
- Applications to Development Economics
Assessment Elements
- Group presentationEach group, consisting of three students, will select a specific paper in behavioral & experimental economics and present it in class. The 20-minute presentation should include (1) an overview of the relevant literature, and (2) a detailed discussion of the chosen paper, including its main idea, experimental design (if any), and key findings. You need to email your presentation slides as soon as your presentation is over. Assignment of the paper: By 11:59 PM on February 5th, 2024 (Monday), students are required to select a paper and communicate their choice over the google sheet shared below. Students should make sure that they do not select same paper for presentation and they should refer the google sheet while selecting the paper. The selected papers cannot be changed after the above mentioned deadline. Presentations will start from 19th February 2023. Link for the papers: https://drive.google.com/drive/folders/1X6m8K8105FRtxmJ2_UIy5ucrjR2c1yUY?usp=sharing Link of the google sheet: https://docs.google.com/spreadsheets/d/10BKYEw3G6lgjUrztr9JMf7VKZtuPazKDPY7aD3VPNIE/edit?usp=sharing
- Term paperEach student is required to submit a term paper by 24th March 2023. The term paper should include: (1) A literature review. (2) A comprehensive review of the presented paper. (3) A proposal for a follow-up or new experiment related to the paper's topic. Note: The term paper must be written independently by each student. Group members should avoid copying from each other and should design unique experiment proposals. While there is no strict page requirement, a thorough literature review and paper analysis are expected. A hard copy of the term paper need not be submitted at course instructor’s office and the same should be uploaded to Smart LMS portal.
- End-term examinationThe end-term exam will cover all the lectures up to the date of the examination.
Interim Assessment
- 2023/2024 3rd module0.4 * End-term examination + 0.3 * Group presentation + 0.3 * Term paper
Bibliography
Recommended Core Bibliography
- An introduction to behavioral economics, Wilkinson, N., 2012
- Causal inference : the mixtape, Cunningham, S., 2021
- Mostly harmless econometrics : an empiricist's companion, Angrist, J. D., 2009
- Thinking, fast and slow, 499 p., Kahneman, D., 2013
- Wilkinson, N., & Klaes, M. (2012). An Introduction to Behavioral Economics (Vol. 2nd ed). Basingstoke: Palgrave Macmillan. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1525059
Recommended Additional Bibliography
- Duflo, E., & Banerjee, A. (2017). Handbook of Field Experiments. Amsterdam, Netherlands: North Holland. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1145037
- Mastering 'Metrics : the path from cause to effect, Angrist, J. D., 2015
- Misbehaving. The making of behavioral economics, Thaler, R. H., 2015
- Nudge : improving decisions about health, wealth and happiness, Thaler, R. H., 2009
- The handbook of experimental economics. Vol.2: ., , 2015