Course Status : | Upcoming |
Course Type : | Elective |
Language for course content : | English |
Duration : | 12 weeks |
Category : |
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Credit Points : | 3 |
Level : | Undergraduate/Postgraduate |
Start Date : | 21 Jul 2025 |
End Date : | 10 Oct 2025 |
Enrollment Ends : | 28 Jul 2025 |
Exam Registration Ends : | 15 Aug 2025 |
Exam Date : | 02 Nov 2025 IST |
NCrF Level : | 4.5 — 8.0 |
Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.
Weeks 1& 2: Introduction: Introduction to behavioral economics; The neoclassical tradition;
Methodology – types of empirical studies; Introduction to motivation and
hierarchical needs; Achievement and craftsmanship: driving forces in economic
behavior; Social drivers of economic decisions
Weeks 3 & 4: The Behavioral
Alternative- Choices, Preferences & Values: The standard model in neoclassical economics;
Axioms and assumptions of neoclassical model; Utility; Bounded rationality
& heuristics; Biases; Heuristics and framing effects; Menu effects and
expectations effects; Choice architecture and Nudges
Weeks 5 & 6: Decision Making under
Risk & Uncertainty: Fundamentals of probability
theory; Bayesian updating and confirmation bias; Prospects and risk attitude;
Axioms, violations and anomalies of EUT; Prospect theory- evaluation, value
function, and weighting function; Cumulative prospect theory; Criticism of
prospect theory
Weeks 7 & 8: Mental Accounting: Introduction; Hedonic Editing Hypothesis; Hedonic Framing;
Acquisition and transaction utility; Applications of mental accounting; Payment decoupling & budgeting;
Behavioral & classical life-cycle theories; Choice bracketing; Dynamic
mental accounting; Policy implications of mental accounting
Weeks 9 & 10: Intertemporal Choice
Models: Introduction; Optimal consumption in the
two-period model; Projection Bias; Discounted utility model; Anomalies in the
discounted utility model; Time-inconsistent behavior; Naïve Hyperbolic
Discounting; Naïve Quasi-Hyperbolic Discounting
Weeks 11& 12: Strategic Interaction: Introduction; Analytical Game Theory; Sequential game & types
of games; Problems with classical game theory; Introduction to behavioral
games; Ultimatum & dictator Games;
Ultimatum & public goods games; Trust games
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