Behavioral and Institutional Economics (20083). 3 units. Behavioral economics incorporates insights from other social sciences, such as psychology and sociology, into economic models, and attempts to explain anomalies that defy standard economic analysis. Institutional economics is the study of the evolution of economic organizations, laws, contracts, and customs as part of a historical and continuing process of economic development. Behavioral economics and institutional economics are naturally treated together, since so much of the logic and design of economic institutions has to do with complexities of human behavior. Topics include economic fluctuations and speculation, herd behavior, attitudes toward risk, money illusion, involuntary unemployment, saving, investment, poverty, identity, religion, trust, risk management, social welfare institutions, private risk management institutions, and institutions to foster economic development. This course will meet according to the Yale Graduate School calendar. Midterm examination and take-home final examination of short essay form. Also ECON 527a/MGT 565a. R.J. Shiller.
EVANS - 1300 (Mon) EVANS - 1300 (Wed) Grade mode: graded CRN: 10440
Exam: Name or Id: Id