ECON BC3048

I learned about modifications to the standard utility model that accounted for behavior that was not typically utility maximizing.

Empirical contradiction with the economic standard model Temptation and self-control Rational inattention Bounded rationality Reference points

Foundations in the various fields within Behavioral Economics.

I learned how to beautiful economics could be! I learned a lot in choice theory, bounded rationality, temptation and self control, risk, social preferences, reference dependence, and failures of the standard model.

Learned about a lot of key findings in Behavioral Econ and how those findings are translated into new models of choice and preference. The course always seeks to show (1) data that shows people are not perfectly rational utility maximizers, (2) models to represent these other decision making processes, (3) applications of these models to other fields within economics. This course is pretty highly technical. There was a lot more math than I expected, including many proof based problems on problem sets (though most are relatively straightforward direct proofs). The course sometimes feels like it amounts to memorizing a wide variety of models that apply to something specific, but links between these models are tenuous. It's exciting to encounter models that attempt to show more than one psychological phenomenon. You encounter a lot of information very quickly in this course. Exams and problem sets require returning to your notes if you're not already studying them. Challenging but definitely enjoyable and rewarding if you're interested in Behavioral Econ. TOPICS: Bounded Rationality, Temptation and Self-Control, Risk and Uncertainty, Reference Dependence, Social Preferences

Various models in behavioral economics, and applications of those models.

Utility Maximization, Bounded Rationality, Temptation and Self Control, Choice Under Risk and Uncertainty, Reference Dependent Preferences, Social Preferences

go for it if you have a deep interest in the topic and are willing to grind be ready for a lot of homework and to write a 15-page research proposal in two weeks at the end of the semester find a group of peers you'll be comfortable working for the entire semester and stick together for the research

I would recommend this to someone who doesn't mind a good amount of adversity. This is not an easy-A course, but it is very interesting.

If you're not already interested in Behavioral Econ, this course is a really intensive introduction (could be good or bad). Some very helpful things to have going into the course: a strong grasp of mathematical modeling, reading/writing proofs, an understanding of how behavioral/psychological experiments are designed.