Economics and Psychology OpenCourseWare: MIT's Free Undergraduate Class on the Study of How Psychology Impacts the Field of Economics
The Massachusetts Institute of Technology (MIT) offers its 'Economics and Psychology' course as free OpenCourseWare. The OpenCourseWare contains useful information for those interested in economics or psychology. The original undergraduate class taught Bachelor of Science in Economics students about how emotions and cognitive limitations affect consumers' economic decisions.
Economics and Psychology: Course Specifics
| Degree Level | Free | Audio | Video | Downloads |
|---|---|---|---|---|
| Undergraduate | Yes | No | No | Yes |
| Lectures/Notes | Study Materials | Tests/Quizzes |
|---|---|---|
| Yes | Yes | No |
Economics and Psychology: Course Description
Professor Xavier Gabaix taught the original 'Economics and Psychology' lecture course, which was an undergraduate elective in Massachusetts Institute of Technology's Economics Department. Traditional economic theory assumes that people are 'utility maximizers,' driven mostly by the desire to make money. However, this course from MIT encouraged students to explore how emotions like altruism affect peoples' and firms' economic behavior. Classic economic theories simply do not take into account emotions, which lead people to behave in complex ways. Students in this class studied psychological concepts like cognitive dissonance (the theory that people rationalize decisions, beliefs or outcomes that conflict with their self-concept) and loss aversion (the theory that people fear losses more than they desire economic gains).
Materials available in 'Economics and Psychology' OpenCourseWare include a reading list, lecture notes, problem sets, links to related course content and downloadable research papers. To find out more about this online social science course, explore the psychological influences on economic behavior course page.
Featured School Choices:
-
UMass Global
UMass Global responds quickly to information requests through this site.
Suggested programs:
- BA in Psychology (Child Psychology)
- BA in Psychology (General Psychology)
- BA in Psychology (Industrial/Organizational)
- BA in Psychology (Prep for Adv Study Counseling)
- BA in Psychology (Prep for Adv Study in Psychology)
-
Grand Canyon University
Grand Canyon University responds quickly to information requests through this site.
Suggested programs:
- BS in Psychology
- B.S. in Psychology with an Emphasis in Performance and Sports Psychology
- Bachelor of Science in Behavioral Health Science
- Bachelor of Science in Behavioral Health Science with an Emphasis in Trauma
- B.S. in Behavioral Health Science with an Emphasis in Substance Use Disorders
More information about Grand Canyon University
-
Stanford University
Stanford University responds quickly to information requests through this site.
More information about Stanford University
-
Harvard University
Harvard University responds quickly to information requests through this site.
More information about Harvard University
-
University of Pennsylvania
University of Pennsylvania responds quickly to information requests through this site.
More information about University of Pennsylvania
-
Duke University
Duke University responds quickly to information requests through this site.
More information about Duke University