Behavioural Economics

University of Otago

Course Description

  • Course Name

    Behavioural Economics

  • Host University

    University of Otago

  • Location

    Dunedin, New Zealand

  • Area of Study


  • Language Level

    Taught In English

  • Prerequisites

    18 200-level ECON points

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    People often make economic decisions that violate the standard assumptions of rationality and self-interest. This paper explores theories of such behaviour that incorporate evidence from psychology and other behavioural sciences.

    Economic models often presume (at least implicitly) that decision-makers are rational, self-interested, fully informed and endowed with perfect foresight. It is not difficult to find violations of each of these precepts in real-world economic behaviour, and the study of the "limits to rationality" has become a vibrant and rapidly growing field within economics. This paper will focus on developing theoretical models that capture some of the more "psychological" phenomena observed in the marketplace.

    Learning Outcomes
    This paper aims to introduce students to key theories, issues and problems in the area of behavioural economics. Particular emphasis will be placed upon considering evidence from a broad spectrum of the behavioural sciences, such as social psychology, anthropology and neuroscience, and incorporating this evidence into economic theory.

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