Behavioral Economics

2023/2024

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Economics

Course type:

Compulsory course

When:

1 year, 4 module

Instructor

Susin, Ivan

Course Syllabus

Abstract

Behavioral economics, as name suggests, focuses on the behavior of economic agents. Most of ''classic'' economic theory relies on highly stylized and abstract models of individuals, so it often produces unrealistic individual-level predictions, questionable explanations and normative recommendations. The main goal of behavioral economics is to bring theory closer to reality and empirical data. It uses insights from other sciences (in particular, cognitive science and psychology) and experimental results to help creating more accurate economic models, better-performing institutions, and better business results. This course will expand students' understanding of decision-making processes, as well as introduce them to both formal models and economic experiments.