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ECON 320 Behavioral Economics (4)
This course analyzes the observed behavior of decision-makers and explores when and why actual behavior deviates from the predictions of standard economic models. Drawing from research in psychology, the course enriches standard economic theories by incorporating social, cognitive, and emotional factors into decision-making models. These factors include (but are not limited to) bounded rationality, social preferences, procrastination, and self-control. The course also considers the policy implications of behavioral models as they relate to saving, consumption, health, and education. Prerequisite: ECON 201 or ECON 305.