LFU:online

The course offers a deeper understanding of microeconomic principles (with a special focus on behavioral economics) and their impact on a macro level.

First, students gain a basic understanding of human decision making by learning fundamental concepts of decision theory, game theory, and behavioral decision making (Prospect Theory, behavioral biases, heuristics) in companies and markets.

Second, implications of individual decisions and preferences on a macro level will be discussed. Here, social preferences (fairness, altruism, trust), and moral and ethical considerations and how this impacts societal and economic decisions and inequality play a central role. 

Short introduction into decision- and game theory. A major focus is on behavioral decision making (Prospect Theory, behavioral biases, heuristics). Another part of the VU is devoted to social preferences (trust, altruism, fairness) and how these influence economic inequality, sustainability, ethical and moral considerations on a macro level.

Lecture with discussions.

Written final exam, essays, short presentations

Course requirements: See curriculum