ECON 330: Economic Behavior and Psychology

Spring 2022, 01/10/2022 – 04/25/2022

 

Class Information:

Classroom: Peter B Lewis 05

Meeting Time: Monday & Wednesday 12:45 pm - 2:00 pm

 

Instructor Information:

Sining Wang

email: sining.wang@case.edu

website: sparks5969@github.io

 

Virtual Office Hours:

Mon & Wed 2:15 pm - 3:45 pm AND by appointment

Meeting ID: 2265058895

Passcode: 224701

Zoom Link: https://cwru.zoom.us/j/2265058895

Prerequisites:

ECON 102— Principles of Microeconomics

 

Course Description:

Have you ever wondered why you are feeling so happy when you spend your own time (and maybe money) to help others? Or why are you so reluctant to order the same food as your friends for dinner? This course is designed to introduce students to the evolving field of behavioral economics—an emerging field of study that lies at the boundary that divides economics and psychology.

The central emphasis of behavioral economics is to bridge economics and psychology, looking at how certain mental rules of thumb, cognitive bias, individual differences, and interpersonal relationships lead to individual judgments and decisions that will systematically deviate from the theoretical predictions. You will find the things you learned in this class have implications in many fields in social science (economics, psychology, political science, management, marketing, etc.)

Through the whole term, we will explore the connection between economic behavior and psychology across several domains. At the completion of the course, you will learn to (1) articulate the predictions of standard economic models, (2) write down and solve alternative models that explain actual behavior of real economic agents, (3) apply appropriate behavioral models to real world situations and discuss policy implications.

 

Course Materials:

Textbook: There is no required text for this course. The lecture notes and assigned readings are fully self-contained.

Classroom Software (Required): MobLab is an on-line application that turns economics classrooms into interactive learning environments where students learn by doing. The Cost of using it is $20 USD per student. Please see the registration guide in attachment.

 Recommended books:

• Kahneman, D. (2011). Thinking, Fast and Slow. Macmillan.

• Kahneman, D., Sibony, O., Sunstein, C. (2021). Noise: A Flaw in Human Judgment

• Ariely, D. (2008). Predictably Irrational. New York: Harper Collins.
• Thaler, R.H., & Sunstein, C.R. (2008). Nudge: Improving Decisions about Health, Wealth, and Happiness. Yale University Press.

 

Evaluation

Your grade will be determined by your performance on homework assignments, experiments, one midterm exam, and one final exam. The breakdown of the grade calculation:

Grading

Homework Assignments                    30% Class Participation                              10% Midterm Exam                                     30% Final Exam                                            30% Total                                                      100%	A:  > 90.0% B:  80.0% - 89.9% C:  70.0% - 79.9% D:  60.0% - 69.9% F:  < 60.0%

 

Explanation of the evaluation criteria:

• Homework assignments will be posted on Canvas. You will have one week to complete each problem set. You are encouraged to work in groups, but each student must submit their own work and will be graded according to their own answers.
• Class Participation: Throughout the semester, you will play experimental games against other classmates (mostly on Moblab). Participation in the experiments is mandatory. Additionally, you should expect to be called upon without notice to contribute to class discussion. Failing to participate in the experiment or class discussion will reduce your grade. No preparation is required prior to the games or class discussions. Occasionally, a student may not be able to come to class, or simply not wish to be called on. This is understandable. If you occasionally do not wish to be called on, simply let me know before the class. 
• Exams. This course will include a midterm and a final exam. Both exams are closed book and closed notes. Both exams will test knowledge based on class discussions and assigned readings.

 

Exam and Homework Policies

Typically, no extensions or make-up homework or exams will be granted. If you anticipate having to miss homework or exams due to reasons out of your control, please contact your Navigator to arrange     for accommodations. Note that travel plans are not an acceptable reason to reschedule exams. It is the responsibility of students to ensure that they write exams in the location, date, and time as scheduled.

 

Academic Integrity

A sound education is built on intellectual honesty. Students at Case Western Reserve University are required to uphold the highest ethical standards of academic conduct. All members of the campus community are responsible for preserving the standards of academic integrity and supporting the practices that promote a fair and just process. Please read the University Policy carefully at https://bulletin.case.edu/undergraduatestudies/academicintegrity/.

 

Academic Accommodation

Academic accommodations are available to students with documented disabilities. To access the accommodations for which you may be qualified, please register with the Office of Disability Resources (Sears 470) 216.368.5230 (https://case.edu/studentlife/healthcounseling/disability-resources). Their staff will verify your need for specific accommodations and provide you with a memo to inform me of your needs. Once you have received this memo, please make an appointment to see me privately to discuss your needs. Please be aware that any needed accommodations cannot be implemented retroactively; therefore, timely notification of your needs is in your best interest. You must notify me of your accommodations for each exam at least two days before an exam (i.e., where you will take the exam and other accommodation required). If you fail to do so, I cannot guarantee I can make the accommodations, since I may have to schedule a room and find a proctor.

 

Mental Health Support

All of us need a support system. I encourage you to seek out mental health supports if they are needed. University Health and Counseling Services (UHCS) has improved access to counseling services with Walk In visits during all office hours. We have made the process of accessing care more efficient and have eliminated the wait. It is as straightforward as this: If you would like to see a counselor, walk in. For more detail, please visit the University Counseling Service Website (https://case.edu/studentlife/healthcounseling/counseling-services).

 

Course Outline

(this schedule is subject to change, with prior notification of the Instructor)

 

Attachment

Moblab Registration Guide