Behavioral Economics and Finance OpenCourseWare: A Free Graduate Study Course on the Psychology of Economics by MIT

Published Mar 27, 2009

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Find out how psychology plays a part in economics with 'Behavioral Economics and Finance,' a free OpenCourseWare from the Massachusetts Institute of Technology (MIT). This online course looks at the psychology of consumers and its effect on their decision-making. Interested students are recommended to have prior experience with microeconomic theory.

Behavioral Economics and Finance: Course Specifics

Degree Level Free Audio Video Downloads
Graduate Yes No No Yes

Lectures/Notes Study Materials Tests/Quizzes
Yes Yes No

Behavioral Economics and Finance: Course Description

Behavioral economics looks at the emotional and cognitive factors that affect how consumers process information and make decisions in an economic environment. This OpenCourseWare from MIT in Cambridge provides information on a variety of concepts in this field. Included with this course are notes from lectures led by Professor Xavier Gabaix on various subjects, such as hyperbolic discounting, expected utility and neuroeconomics. The notes demonstrate how economists mathematically model consumer behavior while accounting for issues like bias and consumer confusion. The notes also address how a consumer's personal thoughts and motivations, such as self-control and internal versus external habits, influence market choices. This material can benefit students working on a Master of Economics degree.

Lecture notes, sample assignments, links to reading material and a list of further readings are available free online. To find out more about consumer psychology, visit the behavioral economics course page.

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