Course overview
This course provides a non-technical introduction to behavioural economics. Behavioural economics analyses regularities in actual individual and strategic decision making and documents departures from behaviour predicted by classical economic theory. Behavioural economics explains these departures by incorporating psychological aspects into economic theories. This course will help you understand why people make the decisions they make, improve your own decision making, and predict how others behave in situations in which they interact with you strategically.
Course learning outcomes
- Demonstrate how the standard assumptions in economics translate into predicted behaviour
- Derive the behaviour predicted by classical game theory in simple games
- Critically discuss the standard assumptions made in classical economic theory
- Explain behavioural concepts in individual decision making
- Explain behavioural concepts in strategic interaction
- Apply advanced behavioural concepts to new situations