Course overview
This course introduces students to important economic concepts and tools that help them understand how the market system operates, how business decisions are made within a competitive environment and how psychological factors can influence those decisions and explain real-world economic behaviours. It analyses why decisions may depart from those predicted by classical economic models by incorporating psychological aspects into the theory. This course helps students understand why people make the decisions they make, improve their own decision making, and predict how others behave in situations in which they interact strategically.
- Choice Under Certainty
- Probability Judgement
- Choice Under Risk And Uncertainty
- Intertemporal Choice
- Strategic Interactions
Course learning outcomes
- Demonstrate how standard assumptions in economics translate into predicted behaviour
- Derive behaviour predicted by classical game theory in simple games
- Critically evaluate standard assumptions made in classical economic theory
- Explain behavioural concepts in individual decision making and behavioural interactions
- Apply behavioural concepts to new economic situations
Degree list
The following degrees include this course