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. The climate crisis and related societal responsibilities build another core of the course.

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. A special focus is devoted to the climate crisis and ways to tackle it.

Lecture with discussions.

Written final exam, blog, essays, short presentations

Course requirements: See curriculum

Due to the current Covid situation and the requirements of the university management, it is not yet foreseeable whether the course can be held completely in attendance. It is possible that especially at the beginning of the summer semester the course will still have to be held virtually. Please be aware of possible changes at short notice.