Incorporation of psychological insights into economic models, with emphasis on empirical evidence. Also known as behavioral economics. Analysis of how individuals depart from a standard economic model in three ways: 1) nonstandard preferences, such as procrastination, 2) nonstandard beliefs, such as overconfidence about one's ability, and 3) nonstandard decision making, such as framing effects and the roles of social pressure and peer influences.
Satisfies Social Science distribution requirement.
Economics 105 and Economics 202.