econ404syllabus_25aug09 - Economics 404: Behavioral...

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Unformatted text preview: Economics 404: Behavioral Economics Syllabus (Revised August 26, 2009) Department of Economics Washington University in St. Louis Fall 2009 Course Information Professor: Pamela Jakiela Office: 337 Seigle Hall Email: pjakiela@wustl.edu Office Hours: Tuesday 10:00 AM 12:00 PM and 3:00 PM 5:00 PM Teaching Assistant: TBA Email: TBA Office Hours: TBA Office Hours Location: TBA Lectures Times: Monday and Wednesday, 2:30 PM 4:00 PM Location: 304 Seigle Hall Course Website http://artsci.wustl.edu/ pjakiela/econ404 fall09.html Course Description This course provides an overview of behavioral economics, an emerging sub-field which integrates insights from psychology into economic models of behavior. Well study ways in which individuals systematically depart from assumptions such as perfect rationality, self interest, time consistency, etc. The course is divided into three sections: (i) non-standard preferences, (ii) non-standard beliefs, and (iii) non-standard decision rules. The course will question many of the assumptions of the so-called standard model of homo economicus , but not the fundamental emphasis on mathematical tools which characterizes modern economics. This course, and behavioral economics more generally, emphasize formal models of individual choice similar to those presented in intermediate microeconomics; the goal is to modify standard models so as to increase phycological realism and improve predictive power, not to scrap such models altogether. Prerequisites This course is intended for advanced undergraduates with substantial economic training. Intermediate microeconomics and the associated calculus preparation are mandatory prerequisites. Students should also be familiar with elementary statistics and probability at the level of Statistics 2200 or above. If you are not comfortable with partial differentiation, 1 basic constrained optimization, expected values, and utility maximization, you cannot take this course!...
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econ404syllabus_25aug09 - Economics 404: Behavioral...

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