ØASØK4400 Behavioral Economics Emneplan

Behavioral economics uses empirical insights from psychology and other fields (such as sociology or neuroscience) in economic analysis. Conventionally, economics assumes that people are "economically rational": they make logically consistent choices in their best self-interest. Of course, sometimes people don't behave that way. Behavioral economics broadens the reach of economic analysis to situations in which people unselfishly contribute to the common good (like giving to the Red Cross), regret a choice (such as eating a candy bar instead of an apple), or make errors in judgement (for example, assign too much weight to highly unlikely events such as a lightning strike). Economic policies can look very different when people exhibit these kinds of behavior.

Language of instruction is English.

None

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student has specialized insight into

• how people's decision making processes can fail to match economically rational predictions: context dependence and heuristics leading to systematic biases (for example framing effects, reference dependence and loss aversion)
• how behavioral models of people's uncertainty preferences can match some observed behavior (for example certainty effects, Allais paradox, Rabin's paradox) better than expected utility theory (for example prospect theory, disappointment and regret aversion)
• how behavioral models of people's time preferences can match some observed behavior (for example demand for commitment devices, self-control issues) better than discounted utility theory (for example quasi-hyperbolic discounting, habit formation)
• how behavioral models of people's social preferences can match some observed behavior (for example charitable giving, voluntary adherence to social distancing at high personal cost) better than the standard assumption of pure self-interest (for example inequality aversion, reciprocity, social norms)

Skills

The student can

• create and analyze empirical evidence, often from experiments and games, for behavior that does not adhere to "economic rationality"
• model behavioral preferences and decision processes to analyze economic decision making
• critically assess the limitations of behavioral economics, for example excessive paternalism or the lack of a clear welfare criterion

General competence

The student is more able to

• use English as the professional language of Economics
• understand Economics as a science, and its strengths and weaknesses
• understand and apply economic methods, such as analytic modelling and economic experiments

Lectures with active student participation.

The following coursework requirements must have been approved in order for the student to take the exam:

• Coursework 1: Written assignment. Group work. Maximum 5 pages.
• Coursework 2: Written assignment. Group or individual work. Maximum 5 pages.
• Coursework 3: Written assignment. Individual work. Maximum 5 pages.

The group work will be carried out in groups consisting of 2-5 students, depending on the number of participating students in the course.

The coursework is part of the active learning experience for the students and helps prepare students for the final exam. It also serves as useful feedback about the effectiveness of the lecturer's teaching.

All required coursework must be completed and approved by the given deadline in order for the student to take the exam. If one or more coursework requirements have not been approved, the student will be given one opportunity to submit an improved version by the given deadline.

The exam in the course is a supervised exam of 4 hours.

The media are influential in raising awareness and building knowledge of conflicts and wars, and increasingly also become part of/are used in various conflicts. This course brings together theory and practice to explore the possibilities and challenges involved in contemporary reporting of peace and conflict. Whereas new technologies mean increased surveillance and enhanced disinformation processes, they may also involve new possibilities for journalists covering crisis and conflict. The minority and gender dimensions of conflict reporting will be of particular interest to discussions of whose perspectives we actually get to hear or see through the news media. Parts of the course reflect upon how in times of war, crisis and conflict, the dangers media workers are exposed to are more imminent than in ordinary times, and focus on what individuals and institutions can do to limit such dangers.

Language of instruction is English.

None.

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

The student

• has acquired knowledge of theories on media and conflict
• has acquired a deeper understanding of the role of media and journalism in conflict and crises, including how certain actors may use online disinformation to suppress human rights and undermine the trust to media
• has reached a deeper knowledge of the challenges for journalistic safety during crises and conflicts

Skills

The student

• can use appropriate theories and methods in journalism and media studies to analyze issues of conflict coverage and reveal various approaches to peace and conflict
• is able to communicate key issues in the research area media and conflict and the current challenges to and possibilities for quality crisis and conflict reporting
• can inspire colleagues and students to reflect on the importance of physical and digital safety and improve professional competence concerning the digital and physical safety of those who produce journalism accordingly

General competence

The student

• is able to analyze professional and occupational issues in the field of media and conflict
• is well qualified to present academic as well as journalistic material and is able to give and receive constructive criticism and response

No course requirements.