Excerpt from course description
- English
- DRE 7026
- 3 Credits
Introduction
This course provides a foundation in behavioral economics and the role of experimental
methods in economics.
Course content
The traditional approach in economics is to explain market outcomes and economic
decision-making using simple theoretical models based on perfectly rational, self-interested
agents who maximise their well-being by carefully weighing up the costs and benefits of
different alternatives. Behavioral economics, on the other hand, aspires to relax these
stringent assumptions and develop an understanding of how people actually make
decisions. Analogously, experimental economics also contrasts with the approach that, until
recently, was more standard. lt uses laboratory techniques as a supplement or alternative to
drawing data exclusively from the field. The module will introduce students to behavioral
and experimental economics, discuss these fields from a methodological perspective and
examine several areas of economic analysis in which they are applied.
Disclaimer
This is an excerpt from the complete course description for the course. If you are an active student at BI, you can find the complete course descriptions with information on eg. learning goals, learning process, curriculum and exam at portal.bi.no. We reserve the right to make changes to this description.