AEM 4140

Course information provided by the Courses of Study 2017-2018.

Behavioral economics integrates psychology and economics by identifying systematic anomalies in decision making. These are now recognized to be an important source of error in business decisions, and they provide the foundation for both behavioral marketing and finance. The course compares rational choice theory with behavior both in lecture and through a series of economics experiments in which students face situations that are likely to lead to anomalies such as "the winner's curse," the status quo bias, hyperbolic discounting, and bias in assessing risks. Students have the opportunity to evaluate their own decision making.

When Offered Fall.

Fees Course fee: lab fee $40.
Permission Note Enrollment limited to: juniors or seniors.
Prerequisites/Corequisites Prerequisite: ECON 3030 or PAM 2000.

Outcomes
  • Students will be able to explain the major decision making anomalies that constitute the core of behavioral economics.
  • Apply lessons from behavioral economics to actual business decision making.
  • Design laboratory experiments testing hypotheses from economics and psychology that relate to economic decision making.
  • Explain IRB requirements and procedures regarding human subjects and confidentiality.
  • Administer experiments and analyze the data.

View Enrollment Information

Enrollment Information
Syllabi: none
  •   Choose one lecture and one discussion. Combined with: AEM 6140

  • 3 Credits Graded

  •  1021AEM 4140  LEC 001

  • Prerequisite: AEM 2600, ECON 3030 or PAM 2000. Enrollment limited to: juniors and seniors. Preference given to AEM Majors.

  •  3971AEM 4140  DIS 201

  •  3972AEM 4140  DIS 202

  •  3973AEM 4140  DIS 203

  •  3974AEM 4140  DIS 204