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Information
| Code | PSI461 |
| Name | Behavioural Economics |
| Term | 2023-2024 Academic Year |
| Semester | 7. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 5 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | Türkçe |
| Level | Lisans Dersi |
| Type | Normal |
| Label | E Elective |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Doç. Dr. ERHAN İŞCAN |
| Course Instructor |
Doç. Dr. ERHAN İŞCAN
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
The main aim of this course is to examine how people make economic decisions. Economic theory is based on the idea that economic agents are rational and explores the consequences of such rational behavior. Empirical research has revealed inconsistencies between derived optimal strategies and the actual behavior of decision makers. Based on these empirical findings, behavioral economics questions the assumption of perfect rationality and uses knowledge from psychology to develop theoretical and empirical predictions of standard economic theory. The main purpose of the proposed behavioral economics course is to introduce students to this rapidly developing and important field.
Course Content
This course provides an overview of behavioral economics. Behavioral economics incorporates assumptions about cognitive ability, social interaction, moral motivation, and emotional responses into economic modeling and explores its economic implications on human behavior. These assumptions are often provided by empirical findings in psychology, sociology, and related disciplines, as well as experimental economics. Behavioral economics aims to propose policies that improve welfare within this framework.
Course Precondition
There are no prerequisites.
Resources
Daniel Kahneman, Thinking, Fast and Slow, Macmillan USA, 2013
Notes
Behavioral Economics, Hatime Kamilçelebi, 2019 IJOPEC Publication No: 2019/20
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | It enables students to develop an understanding of behavioral and experimental economics |
| LO02 | Comprehends the psychological roots of decision-making with daily examples |
| LO03 | Learns the methodology of experimental applications in economics |
| LO04 | Defines the basics of the heterodox approach by criticizing the traditional approach. |
| LO05 | Defines behavioral approaches since the Keynesian approach. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explains the approaches and concepts related to the theoretical and application areas of psychology. | |
| PLO02 | Bilgi - Kuramsal, Olgusal | Comprehends other basic sciences (eg, sociology, biology, philosophy) related to psychology, and establishes a multidisciplinary perspective. | |
| PLO03 | Bilgi - Kuramsal, Olgusal | Explains the development of psychology from the historical perspective | |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Applies the knowledge of psychology for the application areas | |
| PLO05 | Beceriler - Bilişsel, Uygulamalı | Applies the methods and techniques of psychology by developing scientific understanding, critical thinking, creative thinking, and problem-solving skills. | |
| PLO06 | Beceriler - Bilişsel, Uygulamalı | Studies human cognitive, emotional and behavioral processes with scientific methods. | 4 |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Conducts basic and applied psychology research | |
| PLO08 | Beceriler - Bilişsel, Uygulamalı | Applies the methods and techniques of psychology in an interdisciplinary team. | |
| PLO09 | Bilgi - Kuramsal, Olgusal | Uses knowledge of psychology to serve society and humanity on the basis of universal and national needs | |
| PLO10 | Beceriler - Bilişsel, Uygulamalı | Demonstrates a sense of responsibility as an individual and team member in solving problems related to the area. | |
| PLO11 | Yetkinlikler - Öğrenme Yetkinliği | Demonstrates life-long learning and research awareness. | 5 |
| PLO12 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Effectively shows his knowledge and skills among experts and non-specialists. | |
| PLO13 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Use information and communication technologies effectively. | |
| PLO14 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Shows awareness of events and developments on the agenda of the society and the world. | 5 |
| PLO15 | Yetkinlikler - Alana Özgü Yetkinlik | Demonstrates a sense of professional responsibility expressed in the Code of Ethics of The Turkish Psychological Association. |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Introduction: Psychology and Economics | Reading related literature | |
| 2 | Rational Decision Making | Reading related literature | |
| 3 | Behavioral Anomalies | Reading related literature | |
| 4 | Bounded Rationality | Reading related literature | |
| 5 | Bounded Rationality and Its Impact on Policies | Reading related literature | |
| 6 | Uncertainty and Human Behavior | Reading related literature | |
| 7 | Happiness Economics | Reading related literature | |
| 8 | Mid-Term Exam | studying for exam | |
| 9 | Behavioral Game Theory | Reading related literature | |
| 10 | Experimental Economics | Reading related literature | |
| 11 | Environment and Experimental Economics | Reading related literature | |
| 12 | Introduction to Neuroeconomics | Reading related literature | |
| 13 | Behavioral Economics and Policy Development | Reading related literature | |
| 14 | Behavioral Economics and Policy Development-2 | Reading related literature | |
| 15 | Behavioral Economics and Policy Development-3 | Reading related literature | |
| 16 | Term Exams | studying for exam | |
| 17 | Term Exams | studying for exam |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 3 | 42 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 3 | 42 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 12 | 12 |
| Final Exam | 1 | 18 | 18 |
| Total Workload (Hour) | 114 | ||
| Total Workload / 25 (h) | 4,56 | ||
| ECTS | 5 ECTS | ||