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| ITEO5008 | Behavioral Economics | 3+0+0 | ECTS:7.5 | | Year / Semester | Spring Semester | | Level of Course | Second Cycle | | Status | Elective | | Department | DEPARTMENT of ECONOMICS | | Prerequisites and co-requisites | None | | Mode of Delivery | | | Contact Hours | 14 weeks - 3 hours of lectures per week | | Lecturer | Dr. Öğr. Üyesi Selim Koray DEMİREL | | Co-Lecturer | | | Language of instruction | Turkish | | Professional practise ( internship ) | None | | | | The aim of the course: | | The aim of the course is to develop graduate level students' ability to understand and analyze the basic theoretical concepts related to the discipline of behavioral economics and to increase their ability to compare these concepts with the concepts related to neo-classical economics. |
| Programme Outcomes | CTPO | TOA | | Upon successful completion of the course, the students will be able to : | | | | PO - 1 : | Students who successfully complete this course will be able to learn the historical development of behavioral economics and its differences from neo-classical economics. | 1,2 | 1,3,5, | | PO - 2 : | Upon successful completion of this course, students will be able to identify the psychological biases that influence economic decision making. | 1,2 | 1,3,5, | | PO - 3 : | Students who successfully complete this course will be able to have knowledge about the basic concepts of behavioral economics. | 1,2 | 1,3,5, | | PO - 4 : | Upon successful completion of this course, students will be able to propose solutions to economic problems within the framework of behavioral economics. | 1,2 | 1,3, | | PO - 5 : | Students who successfully complete this course will be able to have knowledge about the contributions of behavioral economics to economics. | 1,2 | 1,3,5, | | PO - 6 : | Upon successful completion of this course, students will be able to report and present their solution proposals from the perspective of behavioral economics in accordance with scientific rules. | 1,2 | 1,3,5, | | CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), PO : Learning Outcome | | |
| Historical development and emergence of behavioral economics
Behavioral economics and related fields (experimental economics, neuroeconomics)
Psychological biases
Prospect theory
Mental accounting
Framing effect
Self-control
Nudge
Possible implications of behavioral economics in the field economics |
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| Course Syllabus | | Week | Subject | Related Notes / Files | | Week 1 | Rational Man and Criticisms of Rational Man (Homoeconomicus) in Economic Theory | | | Week 2 | Historical Development and Emergence of Behavioral Economics | | | Week 3 | Experimental Economics and Case Studies | | | Week 4 | Neuroeconomics, Methods and Case Studies | | | Week 5 | Prospect Theory | | | Week 6 | The impact of game theoretic implications on economic decisions: Trust Game | | | Week 7 | The impact of game theoretic implications on economic decisions: Ultimatum Game | | | Week 8 | Mental Biases and Heuristics | | | Week 9 | Midterm Exam | | | Week 10 | Neuroeconomics and Hormone Studies | | | Week 11 | Mental Accounting | | | Week 12 | Framing Effect | | | Week 13 | Self-Control and Implications on Consumption-Saving Decisions | | | Week 14 | The Concept of Nudge | | | Week 15 | Evaluation of Behavioral Economics Discipline on the Basis of Neo-Classical Economics and Its Reflections on Economic Science | | | Week 16 | Final Exam | | | |
| 1 | Kamilçelebi, Hatime. 2019; Davranışsal İktisat, IJOPEC Publication, No: 2019/20, Londra. | | | 2 | Kahneman, Daniel. 2017; Hızlı ve Yavaş Düşünme, Varlık Yayınları, İstanbul. | | | |
| 1 | Thaler, Richard H. ve Sunstein Cass R. 2017; Dürtme: Sağlık, Zenginlik ve Mutlulukla İlgili Kararları Uygulamak, Pegasus Yayınları. | | | 2 | Demirel, S. K. ve Artan, S. 2016; Nöroiktisat ve İktisat Biliminin Geleceğine İlişkin Tartışmalar, Uluslararası Ekonomi ve Yenilik Dergisi , 2(1), 1-28. | | | 3 | Ariely, Dan. 2010; Akıldışı ama Öngörülebilir, Optimist Yayınları. | | | 4 | Kahneman, D., and Tversky, A. (2013); Prospect theory: An analysis of decision under risk. In Handbook of the fundamentals of financial decision making: Part I (pp. 99-127). | | | 5 | Shefrin, H. M., & Thaler, R. H. (1988); The behavioral life-cycle hypothesis. Economic inquiry, 26(4), 609-643. | | | |
| Method of Assessment | | Type of assessment | Week No | Date | Duration (hours) | Weight (%) | | Mid-term exam | 9 | .../04/2024 | | 30 | | In-term studies (second mid-term exam) | 8 | .../04/2024 | | 20 | | End-of-term exam | 16 | .../06/2024 | | 50 | | |
| Student Work Load and its Distribution | | Type of work | Duration (hours pw) | No of weeks / Number of activity | Hours in total per term | | Yüz yüze eğitim | 3 | 14 | 42 | | Sınıf dışı çalışma | 5 | 10 | 50 | | Arasınav için hazırlık | 6 | 7 | 42 | | Arasınav | 3 | 1 | 3 | | Ödev | 9 | 8 | 72 | | Dönem sonu sınavı için hazırlık | 1 | 3 | 3 | | Dönem sonu sınavı | 3 | 1 | 3 | | Diğer 1 | 2 | 2 | 4 | | Diğer 2 | 3 | 2 | 6 | | Total work load | | | 225 |
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