MALKA220 Behavioral Economics Course description

Coursework requirements from MALK 4000-401, 4000- 402, MALKA 211 and 212 or equivalent must be approved to participate and submit coursework requirements in MALKA220.

On successful completion of the course, the student has the following learning outcomes classified as knowledge, skills and competence:

Knowledge

The student

• can describe and discuss the main distinctions between neoclassical economics, behavioral economics and behavior analysis
• can define behavioral economics and describe the origins
• can define the concepts of bounded and unbounded rationality
• can define the core concepts of discounting
• can define "beliefs, biases and heuristics" and describe typical heuristics
• can define core principles in game theory
• can describe and define the relations between nudging and prompting

Skills

The student

• can discuss the concept of rationality to the standard economic model and behavioral economics
• can discuss discounting in relation to the standard economic model and behavioral economics
• can discuss discounting in relation to behavior analysis
• can describe and discuss the concepts of rule-governed and contingency shaped behavior in the light of discounting.
• can discuss how "beliefs, biases and heuristics" affects choice behavior, and analyze these concepts in behavioral analytic terms
• can discuss game theory and how this affects choice behavior
• can discuss how nudging can affect choice behavior, and analyze nudging in behavioral analytic terms OK
• can discuss the concept of selection at the behavioral and cultural level in relation to micro- and macroeconomics
• can discuss the contribution of behavior analysis to behavioral economics
• can describe instances of cognitive biases and heuristics, and analyze them in behavioral terms

Competence

The student

• can present core principles of behavioral economics to others in a way that meets the requirements of professional scientific communication
• can present core principles of behavioral economics to the Public
• can discuss how behavior analysis can contribute to the field of behavioral economics
• can present evidence based research from behavioral economics, and discuss different methods and Applications
• can discuss how the field of behavioral economics can contribute to further understanding of choice behavior

Behavioral economics; behavior analysis; bounded rationality; neoclassical economics; discounting; behavior and culture, beliefs, biases and heuristics.

The course will include lectures, student exercises, individual papers, discussions.

Students submit three written assignments, each with maximum five pages including references, according to the deadlines in the course schedule.

Exam content: Learning outcomes.

Form of examination: Individual written examination with invigilation, four hours.

Examiners: One internal and one external examiner.

Grading scale: A grading scale of A (highest) to F (lowest) where A to E is a pass grade and F is a fail grade.

Examination support materials

None.