ECON 249 - Behavioral Economics

FC SSCI QFR

4 credits
Traditional “neoclassical” economic models assume that people are relentless optimizers who are self-interested, well-informed, and have stable preferences. Behavioral economics investigates how real human decision-making systematically departs from these assumptions. Topics include bounded rationality and heuristics, prospect theory, loss aversion, mental accounting, time inconsistency and self-control problems, and applications to savings, health, and public policy.

Prerequisites: ECON 101.