Infopaket

Introduction to Behavioral Economics

ВК 7

Вибіркова дисципліна для ОП

First

2023/2024

8 Semester

6

LO 5. Apply analytical and methodical tools for substantiating proposals and making managerial decisions by various economic agents (individuals, households, enterprises and government authorities). LO 7. Explain the models of socio-economic phenomena from the point of view of fundamental principles and knowledge through understanding of the basic directions of economic development. LO 9. Realize the main features of the modern world and national economy, the institutional structure, directions of social, economic and foreign economic policy of the state. LO 11. Ability to analyze the processes of government authorities and market regulation of socio-economic and labor relations.

Successful mastering of courses: «Economics», «Microeconomics», «History of economic thought». Knowledge of fundamentals of economic decision-making; principles and general concepts of consumer choice theory; conceptual framework of modern game theory; categorial bodies of the theory of intertemporal choice; general principles of choice under uncertainty.

course «Introduction to Behavioral economics» is devoted to research of behavioral foundations of economic choice and behavioral aspects of functioning of modern markets. Course based on methodology of sociological experiments and psychological observation. Principles of mental accounting and role of visceral influences and loss-aversion in the process of economic decision making of market actors are investigated. Under the discipline role of cooperation and fairness in modern markets is analyzed. Course provides studying in practice of behavioral principles of intertemporal choice, choice under uncertainty and mental accounting.

1. Ariely D. Amazing Decisions: The Illustrated Guide to Improving Business Deals and Family Meals. – New-York: Hill & Wang, 2019. – 224 p. 2. Altman M. Handbook of Contemporary Behavioral Economics: foundations and developments. – New-York: M.E. Sharpe publishing, 2006. – 784 p. 3. Angner E. A Course in Behavioral Economics. – 3rd Ed. – New-York: Red Globe Press, 2021. – 352 p. 4. Camerer С., Loewenstein G., Rabin M. Advances in behavioral economics. – Princeton: Princeton University Press, 2004. – 767 p. 5. Cartwright E. Behavioral Economics: Advanced Texts in Economics and Finance. – 3rd Ed. – Oxfordshire: Routledge, 2018. – 586 p. 6. Diamond P., Vartiainen H. Behavioral economics and its applications. – Princeton: Princeton University Press, 2007. – 331 p. 7. Mothersbaugh D., Hawkins D., Kleiser S. Consumer Behavior: Building Marketing Strategy. – 14th Ed. – New-York: McGraw-Hill, 2019. – 832 p.

Lecture, seminar, individual student’s self-study, exam

- Semestrial evaluation 60 points maximum / 36 points minimum: 1. Participation in work at seminars (Module 1.): RS 1.1; – Max 10 points / Min 6 points 2. Accomplishment of creative tasks (Module 1.): RS 1.1; – Max 5 points / Min 3 points 3. Solving of the practice problems (Module 1.): RS 1.1; RS 2.2; RS 3.1 – Max 5 points / Min 3 points 4. Midterm Test: RS 1.1; R– Max 6 points / Min 3 points 5. Participation in work at seminars (Module 2.): RS 1.2; RS 2.1; RS 3.2; RS 4.2 – Max 10 points / Min 6 points 6 6. Accomplishment of creative tasks (Module 2.): RS 1.2; RS 3.2; RS 4.1 – Max 5 points / Min 3 points 7. Solving of the practice problems (Module 2.): RS 1.2; RS 2.1; RS 4.2 – Max 5 points / Min 3 points 8. Independent work (drafting oral presentations, participation in the case study): RS 2.1; RS 4.1 – Max 8 points / Min 6 points 9. Credit Test: RS 1.2; RS 3.2; RS 4.2 – Max 6 points / Min 3 points - Summary evaluation during examination: 40 points maximum, 24 points minimum.

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