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Information
| Code | BAC443 |
| Name | Behavioral Economics |
| Term | 2022-2023 Academic Year |
| Semester | 7. Semester |
| Duration (T+A) | 3-0 (T-A) (17 Week) |
| ECTS | 4 ECTS |
| National Credit | 3 National Credit |
| Teaching Language | Türkçe |
| Level | Lisans Dersi |
| Type | Normal |
| Mode of study | Yüz Yüze Öğretim |
| Catalog Information Coordinator | Doç. Dr. BAŞAK GÜL AKAR |
| Course Instructor |
1 2 |
Course Goal / Objective
The main objective of the course is the apperceive the economical psychology and behavioral economics which aimes to include psychological motives to economic models as an new and growing area of economics. For this purpose proves and the theories is identified to explain the personal decisions.
Course Content
Explanation related with the course and examinations about fundamental concepts; The subject of behavioral economics and extent of it; The methodology of behavioral economics; Behavioral motives, justice, reciprocity, shame, norms, preferences.; Neuroeconomic.s
Course Precondition
NO
Resources
Thinking, Fast and Slow-Daniel Kahneman-Farrar, Straus and Giroux Nudge: Improving Decisions About Health, Wealth, and Happiness Paperback – Penguin Books- Richard H. Thaler, Cass R. Sunstein
Notes
Dollars and Sense: How We Misthink Money and How to Spend Smarter - Dan Ariely and Jeff Kreisler-Harper Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions - Dan Ariely
Course Learning Outcomes
| Order | Course Learning Outcomes |
|---|---|
| LO01 | Should have learned the basic principles and assumptions of behavioral economics, a field which is shaped by the advences in psychology and neuroscience |
| LO02 | It considers the effects of cognitive and sensory factors in the decisions taken by economic agents, rationality, prejudices, cognitive shortcuts, etc. discuss the effects of factors on preferences. |
| LO03 | In this way, he evaluates the assumptions and policy propositions of traditional economics from the perspective of behavioral economics, and interprets the results of behavioral economics in policy design. |
| LO04 | Compares the experimental methods that are used in economic and psychological disciplines. |
| LO05 | Analyzes the different dimensions of decision making under uncertainity in the basic level. |
| LO06 | Discusses rationality, one of the principles of economics. |
| LO07 | Interprets the complex behaviors of the individual. |
| LO08 | Analyses the factors in the decision-making process. |
Relation with Program Learning Outcome
| Order | Type | Program Learning Outcomes | Level |
|---|---|---|---|
| PLO01 | Bilgi - Kuramsal, Olgusal | Explain all the basic functions of the business conceptually. | |
| PLO02 | Bilgi - Kuramsal, Olgusal | Explain the basic economic concepts and the relationship between basic economic concepts and business management concepts. | |
| PLO03 | Bilgi - Kuramsal, Olgusal | Define the basic information about the law discipline related to the field of business administration. | |
| PLO04 | Beceriler - Bilişsel, Uygulamalı | Transfer information about the field of business in the language of learning by using effective verbal, written and visual communication methods. | |
| PLO05 | Beceriler - Bilişsel, Uygulamalı | Determine the most appropriate approaches, implementations and methods of business management considering sectors, their sizes, resources, cultures, goals and objectives. | 3 |
| PLO06 | Beceriler - Bilişsel, Uygulamalı | Determine appropriate methods to solve business problems. | |
| PLO07 | Beceriler - Bilişsel, Uygulamalı | Research in the field of business and reports the results of the research for use in managerial decision-making processes. | |
| PLO08 | Yetkinlikler - Bağımsız Çalışabilme ve Sorumluluk Alabilme Yetkinliği | Effectively work as a team and takes the necessary responsibility within the team. | 4 |
| PLO09 | Yetkinlikler - Öğrenme Yetkinliği | As well as professional development, improve him-/herself continuously in scientific, social, cultural and artistic fields according to his/her interests and abilities, identifying needs of learning. | 4 |
| PLO10 | Yetkinlikler - Öğrenme Yetkinliği | Follow latest developments in the field, and sustain personal and professional development with the awareness of the necessity of life long learning. | 4 |
| PLO11 | Yetkinlikler - Öğrenme Yetkinliği | Use basic numerical and statistical analysis programs of business management. | |
| PLO12 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Monitor the external environment factors such as sector structure, competition, technology, economy, politics and culture that affect the activities of businesses and interpret their effects on businesses. | 3 |
| PLO13 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Use/report/interpret Business Information Systems and sub-modules required by business management. | |
| PLO14 | Yetkinlikler - İletişim ve Sosyal Yetkinlik | Use Turkish and at least one foreign language in accordance with the requirements in academic and business life. | 4 |
| PLO15 | Yetkinlikler - Alana Özgü Yetkinlik | Become aware of professional ethics, environmental awareness, sustainability, social responsibility, cultural, social and universal values. | 4 |
| PLO16 | Yetkinlikler - Alana Özgü Yetkinlik | Follow latest developments in the field, and sustain personal and professional development with the awareness of the necessity of life long learning | 3 |
Week Plan
| Week | Topic | Preparation | Methods |
|---|---|---|---|
| 1 | Introduction to behavioral economics | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Beyin Fırtınası, Örnek Olay |
| 2 | The basics of behavioral economics and the interaction of psychology and economics,History and evolution of behavioral economics;Methodology and experimental economics | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Alıştırma ve Uygulama, Beyin Fırtınası |
| 3 | Values, preferences and choices Rationality and utility: Traditional model and the approach behavioral economics | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Rol Oynama, Grup Çalışması, Örnek Olay |
| 4 | Beliefs, heuristics and biases: Standard model and the roots of rirationality | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Beyin Fırtınası, Örnek Olay |
| 5 | Decision making under risk and uncertainty: Standard model and expected utility | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Grup Çalışması, Örnek Olay |
| 6 | Decision making under risk and uncertainty: Prospect theory, reference dependence and loss aversion | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Beyin Fırtınası, Örnek Olay |
| 7 | Mental accounting | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Beyin Fırtınası, Örnek Olay |
| 8 | Mid-Term Exam | Prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
| 9 | Intertemporal choice:Discounted utility model (DUM)/ Anomalies in the DUM | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Beyin Fırtınası, Örnek Olay |
| 10 | Intertemporal choice:Time inconsistent preferences/ Hperbolic discounting | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 11 | Strategic interaction:Game theory and behavioral game theory | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma |
| 12 | Social preferences: Standard model and the nature of social preferences/Factors affecting social preferences/Ineaquality-aversion models/Reciprocity models | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Beyin Fırtınası |
| 13 | Behavioral economics and nudge theory | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Rol Oynama, Grup Çalışması, Beyin Fırtınası, Örnek Olay |
| 14 | Subjective well-being and happiness | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Rol Oynama, Grup Çalışması, Beyin Fırtınası, Örnek Olay |
| 15 | Subjective well-being and happiness (cont.) | Reading course book | Öğretim Yöntemleri: Anlatım, Soru-Cevap, Tartışma, Örnek Olay, Bireysel Çalışma |
| 16 | Term Exams | Prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
| 17 | Term Exams | Prepare to exam | Ölçme Yöntemleri: Yazılı Sınav |
Student Workload - ECTS
| Works | Number | Time (Hour) | Workload (Hour) |
|---|---|---|---|
| Course Related Works | |||
| Class Time (Exam weeks are excluded) | 14 | 3 | 42 |
| Out of Class Study (Preliminary Work, Practice) | 14 | 3 | 42 |
| Assesment Related Works | |||
| Homeworks, Projects, Others | 0 | 0 | 0 |
| Mid-term Exams (Written, Oral, etc.) | 1 | 7 | 7 |
| Final Exam | 1 | 18 | 18 |
| Total Workload (Hour) | 109 | ||
| Total Workload / 25 (h) | 4,36 | ||
| ECTS | 4 ECTS | ||