Introduction to Behavioral Economics

Introduction to Behavioral Economics

ECON S2226 (CRN: 30059)

Instructors: Rohen Shah
Dates: Session A, May 25 - June 26, 2026
Course Mode: In-Person
Meeting Times: TTh 1.00-4.15
Distributional Requirements: Social Sciences
Eligibility: Open to pre-college and college students

In-person Course. Standard economic theory typically assumes a fully rational decision maker. While this is a powerful modeling tool, it has faced substantial critique for being unrealistic. Rather than discarding this framework, behavioral economics investigates how relaxing some of these rationality assumptions changes economic predictions and insights. This course introduces key cognitive biases that shape real-world decision, and their implications for classical economic analysis. We will develop both an intuitive and mathematical understanding of these biases (present bias, loss aversion, decoy effect, etc.) and will explore empirical evidence that demonstrates biases in practical settings. The course strikes a balance between accessibility and rigor by discussing formal logic underlying behavioral patterns without requiring training in calculus or advanced microeconomic theory. Prerequisites: ECON 1108, 1110, 1115, or completed AP Microeconomics with a score of a 4 or 5. 1 Credit. Session A: May 25 – June 26. Tuition: $5480.

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