Behavioral Economics

2024/2025

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Theoretical Economics

Course type:

Compulsory course

When:

1 year, 3 module

Instructor

Sahoo, Soubhagya

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.