MALKA220 Behavioral Economics Course description

This course provides an overview of behavioral economics for students and professionals interested in behavioral science. Whereas the focus is on a behavior analytic framework of choice behavior and decision-making, the course is highly interdisciplinary, as it includes concepts and cases drawn from economic, psychological, and social sciences.

Admission to the study program

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, and define behavioral economics and describe the origins
• define the concepts of Homo economicus and bounded rationality
• define the core concepts of discounting
• define "beliefs, biases and heuristics" and describe typical heuristics
• define core principles in game theory

Skills

The student can

• discuss discounting in relation to the standard economic model and behavioral economics
• describe and discuss the concepts of rule-governed and contingency shaped behavior in the light of discounting
• discuss how nudging can affect choice, and analyze nudging in behavioral analytic terms
• discuss the concept of selection at the behavioral and cultural level in relation to micro- and macroeconomics
• discuss ethical concerns when influencing choice in the field of behavioral economics

Competence

The student can

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

On completion of the course, the student is expected to have achieved the following in terms of knowledge, skills and general competence:

Knowledge

The student:

• has insight into different areas of professional expertise that are relevant to the development of projects
• has insight into the structure and values of an enterprise or an educational institution

Skills

The student:

• can make a constructive contribution in the enterprise/other educational institution
• can discuss and reflect on different cultural and ethical perspectives, work methods, cooperation and the understanding of roles internally in the enterprise/other educational institution

General competence

The student:

• has an understanding of work in the field in commercial contexts/specialisation in the field from another educational institution
• can plan and carry out varied tasks and projects that take place over time, individually or in teams, and in accordance with ethical requiremtns and guidelines.

Attendance and active participation are required in the internship in an enterprise or other educational institution.

This course has mandatory requirements that needs to be fullfilled in order to take the exam:

• Compulsory attendance in the internship at an enterprise or other educational institution. The student cannot be absent for more than 10 per cent of the course.
• Four status reports/logs must be sent to the internship lecturer during the period.

All aids are permitted, provided the rules for source referencing are met.

Pass or Fail

One internal examiner.