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2685 Behavioural and Experimental Economics, 6 cr 
Code 2685  Validity 01.01.1950 -
Name Behavioural and Experimental Economics  Abbreviation BehavioralExpEc 
Credits6 cr  Date of expiry 10 years
TypeAdvanced studies Subject260 Economics 
KindCourse  Hours  
Study right   GradingStandard Scale 
Recommended time 
Organisation Economics, Helsinki 

Course Description 

During the course you will learn to understand the methods, central results, and theories of both experimental and psychological (behavioral) economics, and their relation to other fields of economics, and to microeconomics in particular. The course offers a master-level overview into Behavioral decisions, Behavioral games, Dynamic behavioral decisions, Experimental economics and experiment settings, as well as applications thereof.

Learning Goal 

You can critically evaluate why mathematical models are applied in economics and what limitations they have, and how behavioral economics contributes to economics with novel approaches. You have basic abilities in modelling, understand purposes of modeling and recognize pros and cons of selected models.

After completing the course, you will be able to 
  • enlist and understand the various purposes of modelling in economics and in particular the novel perspectives that behavioral economics provides;
  • recognize and explain some of the core behavioral economics concepts;
  • solve theoretical behavioral economics models, derive economic implications and relate them to those of non-behavioral economic models.

Understanding of microeconomics at an intermediate level. Knoweledge in Intermadiate microeconomics and Economics of Strategy i essential.

Total Student Workload 

160 hours divided into
Scheduled (contact) hours: 40 hours
Non-scheduled work: 120 hours

  • 28 h lectures,
  • 12 h Exercise groups,
  • Group work 20h (mandatory)
  • Written assignments (mandatory)
  • Economics decision experiments in the internet
  • Class room experiments
  • Exam (mandatory)
Literature and Course Material 
  • Camerer, C. (2003). Behavioral game theory. Princeton: Princeton University Press.
  • Wilkinson, N. (2007). Introduction to behavioral economics. Basingtonstoke: Palgrave Macmillan.
  • Friedman, D. & Sunder, S. (1994). Experimental methods: A primer for economists. Cambridge: Cambridge University Press.

Lecture notes
Supportive readings


Written examination

Non-degree studies (Open University, JOO and Contract Studies) 

Open university quota: 3
Quota for JOO-students: 3


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