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62638 Behavioral Economics I, 5 cr 
Code 62638  Validity 01.01.1950 -
Name Behavioral Economics I  Abbreviation BehavioralEconI 
Credits5 cr  Date of expiry 10 years
TypeDoctoral studies Subject260 Economics 
KindCourse  Hours  
Study right   Gradingpoints (0-100), passed 
Recommended time 
   
Organisation Economics, Helsinki 

Examiner
Name
Miettinen, Topi 

Description
Course Description 

The course  aims providing advanced economics students in the FDPE with insights regarding the implications of relaxing some of the standard simplifying rationality assumptions and adopting psychologically motivated alternative assumptions. The idea is to further learn to critically evaluate the modelling assumptions made both in behavioural (descriptive) and what is sometimes called "standard" (prescriptive) theory and understand the various criteria for choosing modelling assumptions. The backbone of the course is theoretical analysis but the course is spiced with economic experiments to provide further insight and evidence. The course offers an overview into Behavioural decisions, Behavioural games, Dynamic behavioral decisions, Experimental economics and experiment settings, as well as applications thereof.

 
Learning Goal 

You have an in-depth understanding of what descriptive, as opposed to prescriptive models, are there for, and how they introduce context-dependency and incorporate psychological assumptions into (micro)economics. You have insights regarding the implications of relaxing some of the standard simplifying rationality assumptions and adopting psychologically motivated alternative assumptions.

 
After completing the course, you will be able to 
  • write down psychologically motivated models of economics
  • distinguish between the various purposes of standard and behavioral modeling.
  • apply modelling tools in the context relevant for your own research.
  • assess the limitations and benefits of economic experimentation in empirical work
  • critically evaluate the modelling assumptions made both in behavioral (descriptive) and what is sometimes called "standard" (prescriptive) theory and understand the various criteria for choosing modelling assumptions.
  • design simple experiments.
 
Course Category 

Blended learning course

 
Pre-requisites 

A completed intermediate and master level course in microeconomics.

 
Total Student Workload 

134 hours divided into
Scheduled (contact) hours: alternatively class lectures 20h + 20 h video lectures
Non-scheduled work: 94 h

 
Instruction 

Lectures, On-line experiments, pen-and-paper experiments, pen-and-paper exercises,assignment: experimental research proposal

 
Literature and Course Material 

Separate reading list + Supportive reading:

  • Dhami, S. S. (2016). The foundations of behavioral economic analysis. Oxford: Oxford University Press.
 
Assessment 

Exam 50 %
Excercises 20 %
Term paper 30 %

 
Equivalent Courses 

Students who have completed the earlier course Behavioral Economics I (4 credits,course code 62636) cannot take this course.

 


Courses now and in the future (registration requires login and a valid study right)
Function Name Type cr Course coordinator Time table
Registration ended Behavioral Economics I, Hki  Course  Erik Wengstr√∂m 
28.10.19 -13.12.19 -

Future exams
no exams