ECN204 Introduction to Behavioral Economics

Credits (ECTS):5

Course responsible:Frode Alfnes

Campus / Online:Taught campus Ås

Teaching language:Norsk

Course frequency:Annually

Nominal workload:125 hours

Teaching and exam period:The course has teaching and assessment in the spring semester.

About this course

The course will provide an introduction to behavioral economics and will cover key topics such as bounded rationality, limited willpower and social preferences. It will be used examples of behavior from finance, entrepreneurship, environment, energy, development, marketing, and consumer policy

Learning outcome

Learning outcomes

Knowledge:

  • have an understanding of how psychology often affects economic decisions
  • have knowledge of methods used in behavioral economic research
  • have knowledge of limited rationality and how, among other things, prospect theory, systems 1 and 2, availability, confirmation and commitment biases affect the assessments and choices people make in economic contexts
  • have knowledge of social preferences and how, among other things, altruism, reciprocity, trust, jealousy affect the assessments and choices people make in economic contexts
  • have knowledge of time preferences and assessments of the future, and how, among other things, procrastination and optimism affect the assessments and choices people make in economic contexts
  • have knowledge of how people's behavior can be influenced through the design of the choices and be familiar with concepts such as choice architecture and nudging

Skill:

  • recognize some of the most common behavioral economic mechanisms in different parts of the economy
  • be able to assess how findings from behavioral economics can affect different types of financial assessments and decisions
  • be able to understand and use key concepts related to behavioral economics
  • be able to conduct simple behavioral studies

General competence:

  • have basic knowledge of key topics in behavioral economics such as limited rationality, social preferences, and time preferences
  • be able to critically assess economic contexts with regard to behavioral economics
  • Learning activities
    Lectures, group assignments, and quizzes.
  • Prerequisites
    ECN110 or equivalent introduction course in microeconomics.
  • Assessment method

    Combined assessment: Group assignment (40%) and a 3-hour written exam (60%).

    The group assignment is a pecha kucha over an assigned topic plus a 2-page article. The pecha kucha and the article are made available to the whole class.



    School exam Karakterregel: Letter grades Hjelpemiddel: A1 No calculator, no other aids Group assignment Karakterregel: Letter grades
  • Examiner scheme
    The external examiner ensures the quality of the assessment plan.
  • Mandatory activity
    Three Canvas quizzes must be passed with at least 2/3 correct answers.The mandatory activity must be completed again if the course is retaken.
  • Teaching hours
    Two lecture hours per week.
  • Admission requirements
    Minimum requirements for entrance to higher education in Norway (generell studiekompetanse)