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on one semester sabbatical split over Fall 2020 and Spring 2021
Althouse Hall Room G19
ECON 214 Behavioral Economics
This course introduces students to the relatively new field of behavioral economics in which the ideas of psychology, sociology and, to a lesser degree, neurobiology, are reintroduced to economic models. Predictions of economic behavior are reconsidered by replacing or augmenting traditional theoretical economic assumptions with more realistic assumptions based on real-world observed behavior and experimental results. Special attention is paid to how such changes affect our theory of markets, social welfare and public policy. Topics include nudge theory, biases and heuristics, prospect theory, concepts of happiness as well as numerous forms of ‘mis-behaving’.
ECON 228 Economic Analysis of Policy
This course introduces the basic economic techniques used in the analysis of public policy and applies these techniques to a variety of social problems and policies. The economic techniques taught include the analysis of market failure, benefit-cost analysis, and economic impact analysis. Applied topics vary, but are likely to include education and job training, public assistance, transportation policy, and environmental protection. Prerequisite: 111 or permission of the instructor.