GRA 6667 Behavioral Economics

APPLIES TO ACADEMIC YEAR 2016/2017

GRA 6667 Behavioral Economics


Responsible for the course
Leif Helland

Department
Department of Economics

Term
According to study plan

ECTS Credits
6

Language of instruction
English

Introduction


    Learning outcome
    The aim of this course is to provide an understanding of three broad questions:

    I. What is behavioral economics?
    * Which assumptions make economics behavioral?
    * What is the methodological approach that makes economics behavioral?

    II. What are the core insights of behavioral economics?
    *With respect to individual choices?
    *With respect to strategic interaction in market situations as well as in non-market situations?

    III. How can insights from behavioral economics facilitate private and public decision-making?
    *By making individuals aware of cognitive and emotional constraints on purposeful behavior?
    *By providing advise on how to structure decision-making processes in order to increase welfare?

    Prerequisites

    All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have spesific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

    Compulsory reading
    Books:
    Holt, Charles A.. 2007. Markets, Games, & Strategic Behavior. Pearson Addison Wesley. 1-432

    Collection of articles:
    Camerer, Colin F., George Loewenstein & Matthew Rabin. 2004. Advances in Behavioral Economics. Princeton University Press. Chapters 1, 5, 11, 18, 19, 21, 22

    Recommended reading

    Course outline
    * What is behavioral economics?
    -The standard model in economics
    -Alternative assumptions
    -Lab -and field experiments as tools
    * Individual decision making
    -Values, attitudes, preferences
    -Risk and uncertainty
    -Inter-temporal choices
    * Strategic interaction
    -Bargaining
    -Public goods provision
    -Markets
    -Fairness and social preferences
    -Trust and emotions
    -Non-rational learning


    Computer-based tools


    Learning process and workload
    A course of 6 ECTS credits corresponds to a workload of 160-180 hours.

    Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on the course homepage/It's learning or text book.

    The students are expected to participate in two laboratoy experiments (data from these experiments will not be used for research purposes).


    Examination
    Written exam 3 hours -100% of grade


    Form of assessment Weight Group size
    Written examination 3 hours 100% Individual

    Specific information regarding student assessment will be provided in class. This information may be relevant to requirements for term papers or other hand-ins, and/or where class participation can be one of several components of the overall assessment. All parts of the assessment must be passed in order to get a grade in the course. Candidates may be called in for an oral hearing as a verification/control of written assignments.

    Examination code(s)
    GRA 66671 3-hour written examination accounts for 100% in the course GRA 6667

    Examination support materials
    Bilingual dictionary
    Permitted examination support materials for written examinations are detailed under examination information in the student portal @bi. The section on support materials and the use of calculators and dictionaries should be paid special attention to.

    Re-sit examination
    It is only possible to retake an examination when the course is next taught. The assessment in some courses is based on more than one exam code. Where this is the case, you may retake only the assessed components of one of these exam codes. All retaken examinations will incur an additional fee. Please note that you need to retake the latest version of the course with updated course literature and assessment. Please make sure that you have familiarised yourself with the latest course description.

    Additional information
    Honour code. Academic honesty and trust are important to all of us as individuals, and are values that are integral to BI's honour code system. Students are responsible for familiarising themselves with the honour code system, to which the faculty is deeply committed. Any violation of the honour code will be dealt with in accordance with BI’s procedures for academic misconduct. Issues of academic integrity are taken seriously by everyone associated with the programmes at BI and are at the heart of the honour code. If you have any questions about your responsibilities under the honour code, please ask. The learning platform itslearning is used in the teaching of all courses at BI. All students are expected to make use of itslearning.

    Semester

    Oversettelser