ESF:MPE_BEEK Behavioral economics - Course Information
MPE_BEEK Behavioral economics
Faculty of Economics and AdministrationAutumn 2022
- Extent and Intensity
- 2/1/0. 6 credit(s). Type of Completion: zk (examination).
- Teacher(s)
- doc. Ing. Rostislav Staněk, Ph.D. (lecturer)
- Guaranteed by
- doc. Ing. Rostislav Staněk, Ph.D.
Department of Economics – Faculty of Economics and Administration
Contact Person: Mgr. Jarmila Šveňhová
Supplier department: Department of Economics – Faculty of Economics and Administration - Timetable
- Wed 16:00–17:50 P106, except Wed 14. 9., except Wed 2. 11.
- Timetable of Seminar Groups:
- Prerequisites
- Course participants should be familiar with microeconomics on a intermediate level and econometrics on a basic level.
- Course Enrolment Limitations
- The course is also offered to the students of the fields other than those the course is directly associated with.
- fields of study / plans the course is directly associated with
- Course objectives
- The aim of the course is to introduce students most prominent problems and methods in the field of behavioral economics. Behavioral economics considers the ways that people are more social, more impulsive, less adept at using information, and more susceptible to psychological biases than the standard economic models assume. Student will learn how behavioral economics modifies the model of rational behavior and explore consequences for individuals, firms and policy.
- Learning outcomes
- At the end of the course, students, will be able to:
- identify evidence for departures of economic behavior from model of rational behavior, and behavioral explanations for these anomalies;
- synthesize different ideas, theories and empirical evidence within the behavioral economics;
- read and understand contemporary papers in the field of behavioral economics;
- estimate behavioral models using real-world data;
- incorporate behavioral perspective into the analysis of private and public policies;
- analyze data from experiments and surveys to answer questions relevant to the behavioral economics - Syllabus
- 1. Decision under uncertainty
- - Probability weightening
- - Reference points
- - Applications (e.g. labor supply, housing market)
- 2. Time inconsistency, Self-control and commitment
- - Exponential discounting
- - Time inconsistency
- - Self-control and commitment
- - Applications (e.g. procrastination, drug policy)
- 3. Information and biases
- - Law of small numbers
- - Confirmatory bias
- - Overconfidence
- - Applications
- 4. Fairness and social preferences
- - Evidence
- - Distributional preferences and reciprocity
- - Intrinsic and extrinsic motivation, crowding-out
- Literature
- required literature
- WILKINSON, Nick and Matthias KLAES. An introduction to behavioral economics. 2nd edition. Houndmills: Palgrave Macmillan, 2012, xiii, 574. ISBN 9780230291461. info
- recommended literature
- Behavioral economics and its applications. Edited by Peter A. Diamond - Hannu Vartiainen. Princeton: Princeton University Press, 2007, xvi, 312. ISBN 9780691122847. info
- Advances in behavioral economics. Edited by Colin Camerer - George Loewenstein - Matthew Rabin. New York: Russell Sage Foundation, 2004, xxvi, 740. ISBN 0691116822. info
- Teaching methods
- Lectures, class discussion, data analysis, reading of scientific papers
- Assessment methods
- The evaluation of the course will be based on the work during the semester and on a final written test.
- Language of instruction
- English
- Further Comments
- Study Materials
The course is taught annually.
- Enrolment Statistics (Autumn 2022, recent)
- Permalink: https://is.muni.cz/course/econ/autumn2022/MPE_BEEK