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document to the instructors. Please note that, if you email the assignment because you cannot upload it, the email and the relevant attachment must be received on or before the assignment deadline to be accepted. Should you experience any internet problems, please call/leave a message for the instructor – this call should occur before the submission deadline passes. If you are absent the day an assignment is due, the assignment is still due at the specified day and time. True medical or family emergencies will be dealt with on a case-by-case basis. Professional Conduct. Professional behavior is expected throughout the class. This means respectful communication both inside and outside of class. During discussions, civil discourse should be maintained at all times and comments should be aimed at moving the discussion forward. This does not mean that students must always agree with others, since reasoned, respectful dissention may be part of the discovery process and lead to previously unconsidered options. Disability Services: The Extension School and the instructors are committed to providing an accessible academic community. The Accessibility Office offers a variety of accommodations and services to students with documented disabilities. For more information, please visit http:// . Page of Rev. February 12, 2020 6 14
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Page of Rev. February 12, 2020 7 14
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INSTRUCTORS: David McIntosh, H’80, HBS’84, Founder, Creative Business Breakthroughs [email protected] (w) 1-617-335-7868 Jon Fay, H’80 Founding Partner, Wilson Alan LLC [email protected] Page of Rev. February 12, 2020 8 14
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SYLLABUS January 30 – Session 1: Introduction Economics is seen as a way of looking at the world, an imperfect and incomplete model of how people behave. In the last 30 years, though, psychologists have shown that there are times and circumstances when people behave in ways that economists would call irrational. Yet these behaviors are too common to be thought of as simply mistaken. Behavioral Economics (Philip Corr and Anne Plagnol) Chapter 1, “What is behavioral economics and why is it important?” (pp. 1-14) Thinking Fast and Slow (Daniel Kahneman), Chapter 1, “The Characters of the Story” Chapter 2, “Attention and Effort” Misbehaving (Richard H. Thaler) Chapter 4, “Value Theory” February 6 – Session 2: Information, Complexity, and Calculation When faced with a decision to be made, people often leap to conclusions, or place too much emphasis on the wrong information, or fail to even consider all the possible options . Behavioral Economics (Philip Corr and Anne Plagnol) Chapter 2, “The ascent and dissent of economics” Chapter 3, “ECON: homo economicus Chapter 4, “HUMAN: more Homer (Simpson) than homo economicus The Paradox of Choice (Barry Schwartz) Chapter 3, “Deciding and Choosing” February 13 – Session 3: Uncertainty and Risk Most decisions are made in the face of uncertainty. Tools like decision trees can help show what assumptions are being made about probabilities and payoffs. But human nature does not value losses the same way it values wins in the same amounts.
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