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Information
| Code | ECOS308 |
| Name | Behavioral Economics |
| Term | 2023-2024 Academic Year |
| Semester | 6. Semester |
| Duration (T+A) | 2-0 (T-A) (17 Week) |
| ECTS | 5 ECTS |
| National Credit | 2 National Credit |
| Teaching Language | İngilizce |
| Level | Lisans Dersi |
| Type | Normal |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Dr. Öğr. Üyesi MUSTAFA ILDIRAR |
| Course Instructor |
Doç. Dr. ERHAN İŞCAN
(A Group)
(Ins. in Charge)
|
Course Goal / Objective
The course is to provide behavioral economics and economic psychology as a new and fast growing field of economics. For this purpose, behavioral and experimental euclidean theories and theories are examined in explaining individual decisions, and the experimental economics method is introduced.
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
KAHNEMAN, Daniel. Thinking, fast and slow. Macmillan, 2011.
Notes
Thaler, R. H., & Sunstein, C. R. (2021). Nudge. Yale University Press.
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | It enables students to develop an understanding of behavioral and experimental economics |
| LO02 | Learns the psychological roots of decision-making with daily examples |
| LO03 | Learns the methodology of experimentalapplicationsin economics |
| LO04 | Learns the deviations from standard economic theory |
| LO05 | Criticizes the conventional methods. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain the importance of demand and supply in economy sciece and the well-running conditions of the market economy | 4 |
| PLO02 | Bilgi - Kuramsal, Olgusal | Define the role of pricing within the event advantage of the market economy | 3 |
| PLO03 | Bilgi - Kuramsal, Olgusal | Define the role of the state in economy, money and financial policies, the central bank and the structure of the market | 2 |
| PLO04 | Bilgi - Kuramsal, Olgusal | Perceive the costs and benefits arising from the global economy | |
| PLO05 | Bilgi - Kuramsal, Olgusal | Produce nymerical and policy options when confronted with problems | 4 |
| PLO06 | Bilgi - Kuramsal, Olgusal | Use quantitative and qualitative techniques of model building, decoding and interpretation | 5 |
| PLO07 | Bilgi - Kuramsal, Olgusal | Use the theory of economics in the analysis of economic events | 5 |
| PLO08 | Bilgi - Kuramsal, Olgusal | Use computer programs, do synthesis and present prepared data efficiently | |
| PLO09 | Bilgi - Kuramsal, Olgusal | Apply the methods of economic analysis. | 4 |
| PLO10 | Bilgi - Kuramsal, Olgusal | Analyze at conceptual level and aquire abiliy in comparing, interpreting, evaluating and synthesizing in order to develop solutions to problems | 5 |
| PLO11 | Bilgi - Kuramsal, Olgusal | Take responsibility individually and/or in a team, take leadership and work effectively | |
| PLO12 | Beceriler - Bilişsel, Uygulamalı | Follow innovative developments in the field being aware of the necessity of lifelong learning and improving him-/herself | 3 |
| PLO13 | Beceriler - Bilişsel, Uygulamalı | Use of different sources about an unfamiliar field within academic principles, synthesize gained data and present effectively | |
| PLO14 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Use Turkish and at least one foreign language in accordance with the requirements of academic and work life | |
| PLO15 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Understand and interpret related peoples´ feelings, thoughts and behaviours correctly; express him-/herself accurately in written and oral language | 3 |
| PLO16 | Yetkinlikler - Öğrenme Yetkinliği | Question traditional approaches, practices and methods. | 5 |
| PLO17 | Yetkinlikler - Öğrenme Yetkinliği | Recognize and apply social, scientific and professional ethical values. |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Behavioral domain of economics | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 2 | Deviations from standard economic theory: Rationality and beyond-1 | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 3 | Behavioral motifsare otherness, justice, reciprocityand shame | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 4 | Deviations from standard economic theory: Rationality and beyond | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 5 | Inconsistent preferences | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 6 | Reference dependencyand tendencyto avoid losses | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 7 | Limited rationality | reading | Öğretim Yöntemleri: Anlatım |
| 8 | Mid-Term Exam | prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | Social identitiesand their reflection on economic behavior | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 10 | Decisionmaking under uncertainty | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 11 | Behavioral game theory | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 12 | Social preferences and collective participation: Public goods experiments | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 13 | Experimental method in economics: experimental design | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 14 | Experimental method in economics: Analysis of experimental data | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 15 | An application to the classroom experiment-An application to the classroom experiment | reading | Öğretim Yöntemleri: Anlatım, Soru-Cevap |
| 16 | Term Exams | prepare to exam | Öğretim Yöntemleri: Soru-Cevap |
| 17 | Term Exams-2 | prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 2 | 28 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 4 | 56 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 10 | 10 |
| Final Exam | 1 | 20 | 20 |
| Total Workload (Hour) | 114 | ||
| Total Workload / 25 (h) | 4,56 | ||
| ECTS | 5 ECTS | ||