Universität Wien

040110 UK Principles of Behavioral and Experimental Economics (BA) (2023W)

8.00 ECTS (4.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work
ON-SITE

Moodle

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 50 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

  • Thursday 05.10. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 06.10. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 12.10. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 13.10. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 19.10. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 20.10. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 27.10. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Friday 03.11. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 09.11. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 10.11. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 16.11. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 17.11. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 23.11. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 24.11. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 30.11. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 01.12. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Monday 04.12. 13:15 - 14:45 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Wednesday 06.12. 15:00 - 16:30 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock
  • Thursday 07.12. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Thursday 14.12. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 15.12. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 11.01. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 12.01. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 18.01. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 19.01. 13:15 - 14:45 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Thursday 25.01. 15:00 - 16:30 Hörsaal 7 Oskar-Morgenstern-Platz 1 1.Stock
  • Friday 26.01. 13:15 - 14:45 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß

Information

Aims, contents and method of the course

Knowledge in introductory microeconomics is highly recommended.

Content:

Behavioral and Experimental Economics are vibrant fields of research within economics. It continues to shed new light on many important issues in economics. These fields have received wide recognition in recent years, with notable contributors receiving Nobel prizes (for example, starting with Reinhard Selten in 1994, and most recently Abhijit Banerjee and Esther Duflo 2019).

This course explores the fundamental principles that underlie the intersection of psychology and economics, shedding light on the complexities of human decision-making in economic contexts. Through a combination of theoretical analysis, empirical studies, and experimental methods, students will gain a solid understanding of the factors influencing economic choices. By challenging conventional assumptions and offering innovative perspectives, this course provides a foundation for critically analyzing economic theories and practices.

The first half of the course focuses on behavioral patterns that deviate from the rational behavior prescribed by neoclassical economics, as well as alternative theories that can account for these deviations. The second half of the course provides some examples of how behavioral economics is applied in various economic contexts, such as education, finance, and poverty.

Throughout the course, we will cover the most important topics in behavioral and experimental economics. By the end, you will have acquired:
1. A good intuition for behavioral deviations from conventional rational settings.
2. A toolbox for formalizing your intuitions using simple mathematical representations.
3. An understanding of how to design experiments and how to evaluate their quality.

Here is a preview of some of the questions we will discuss in this course:
• Why do people procrastinate? How can we address procrastination?
• Why do some people remain overconfident despite feedback?
• When do people behave altruistically? What makes them behave more selfishly?
• Are people consistently willing to take risks?
• …

Aims:
This course aims to:
1. Provide the students with frameworks that enable them to analyze human behavior rigorously;
2. Emphasize the importance of causal inference and the role of experiments.
3. Provide real-world examples of how these new theories can be applied to address economic problems.

Methods:
The course consists of lectures, discussions, and student presentations. A list of references will be provided. While these readings are not mandatory readings, they can enhance your understanding of the material covered in the lecture slides.

Assessment and permitted materials

In the course, a student can collect up to 100 points. 50 points are required to pass. The composition of the evaluations is as follows:
1. A presentation (English, 20-30min depending on participation, 30 points)
2. Class participation (English, 20 points)
3. A final exam (closed-book, English, 50 points) *
* The exam will be based on the material covered in the lectures. A retake can be offered upon request.

Minimum requirements and assessment criteria

In the course, a student can collect up to 100 points. 50 points are required to pass.

Examination topics

The exam will cover all the material discussed in the lectures.

Reading list

To be announced in the lecture.

Association in the course directory

Last modified: Mo 02.10.2023 10:47