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Course syllabus - Behavioral Economics

Scope

7.5 credits

Course code

NAA208

Valid from

Autumn semester 2026

Education level

First cycle

Progressive Specialisation

G2F (First cycle, has at least 60 credits in first-cycle course/s as entry requirements)

Main area(s)

Business Administration, Economics

Organisation

Department of Business and Mathematics

Ratified

2025-12-18

Literature lists

Course literature is preliminary up to 8 weeks before course start. Course literature can be valid over several semesters.

Objectives

Students in economics, finance, and business studies are often exposed to standard economic theory, which is often criticized for lacking a strong connection with the real world. This course aims to present deviations of economic behavior from those prescribed by standard economic theory.

Learning outcomes

  1. Apply behavioral economic models to study and understand human behavior in different contexts.
  2. Identify problems related to individual or group behavior in economic, financial, business, and social contexts.
  3. Evaluate the impact of problems related to individual or group behavior in economic, financial, business, and social contexts on individual and / or social welfare.
  4. Describe how a problem related to individual or group behavior in an economic, financial, business, or social context can be addressed.
  5. Organize and communicate relevant arguments in a clear, accurate, and concise manner.
  6. Engage in teamwork to assess behavioral interventions based on behavioral insights.

Course content

This course takes a descriptive approach to economic behavior and aims to present deviations of economic behavior from those prescribed by the standard economic

theory. Specifically, the course will focus on departures from, and alternatives to, the traditional assumptions that people are rational and self-interested. The implications of these behavioral insights on the economic outcomes of individuals, groups, organizations, and societies will be discussed. Topics that will be discussed are as follows:

  1. Models of decision making, particularly, under risk and uncertainty.
  2. Social preferences.
  3. Incentives and motivation theories.
  4. Biases in decision making.
  5. Time preferences and time inconsistency.
  6. Nudges.

Specific requirements

60 credits in economics, finance, business administration, psychology, or social psychology. In addition a course in introduction to microeconomics 7,5 credits and English course 6 or English level 2 is required.

Examination

INL1, Assignment, 1,5 credit, grade: Pass (G) or Fail (U). Learning outcome: 1-6.

TEN1, Written on-campus examination, 6 credits, grade: Excellent (A), Very good (B), Good (C), Satisfactory (D), Sufficient (E), Insufficient (F). Learning outcome: 1-5.

A student who has a certificate from MDU regarding disability study support, can request adaptions for the examination. It is the examiner who takes decisions on any adaptions, based on the certificate and other conditions.

Grade

AF-skala