Information Package / Course Catalogue
Behavioral Finance
Course Code: MKS275
Course Type: Area Elective
Couse Group: Short Cycle (Associate's Degree)
Education Language: Turkish
Work Placement: N/A
Theory: 2
Prt.: 0
Credit: 2
Lab: 0
ECTS: 4
Objectives of the Course

Handling the elements of financial markets such as financial decision-making processes, behavioral errors, price formation with a behavioral finance approach and presenting an insight within this framework.

Course Content

Traditional finance theories, Expected Utility Theory and Prospect Theory, market anomalies, investor behavior and biases, corporate behavioral finance.

Name of Lecturer(s)
Learning Outcomes
1.Explains traditional finance theories, asset pricing models and their assumptions, and efficient markets.
2.Explains the assumptions of fundamental finance theories and how they deviate in real-world scenarios.
3.Interprets the foundations of behavioral finance.
4.Explains the psychological biases individuals employ during decision-making.
5.Interprets the anomalies encountered by corporations and markets.
6.Explains investment and trading strategies along with the factors influencing them.
Recommended or Required Reading
1.Hızlı ve Yavaş Düşünme, Daniel Kahneman, Varlık Yayınları, 2017
2.Davranışsal Finans, Murat Kıyılar, Murat Akkaya, Literatür Yayınları, 2020
3.Akıllı İnsanların Mantıksız Kararları, Richard H. Thaler, Pegasus Yayınları, 2019
4.Dürtme, Cass R. Sunstein, Richard H. Thaler, Pegasus Yayınları, 2018
5.Davranışsal Finans ve Piyasa Anomalileri Teorik Tartışma – Literatür – Uygulama, Cihan YILMAZ,Seçkin Yayıncılık
6.Davranışsal Ekonomi (Nörofinans): Kavram – Teori – Uygulama, Utku Altınöaz-Hasip Altınöz,Seçkin Yayıncılık
Weekly Detailed Course Contents
Week 1 - Theoretical
Risk, uncertainty, rationality anf financial decisions
Week 1 - Preparation Work
Pre-preparation for risk, uncertainty, rationality anf financial decisions
Week 2 - Theoretical
Overview of traditional finance theories (Modern Portfolio Theory, CAPM, APT, Index Models)
Week 2 - Preparation Work
Pre-preparation for overview of traditional finance theories (Modern Portfolio Theory, CAPM, APT, Index Models)
Week 3 - Theoretical
Overview of traditional finance theories (Efficient Market Hypothesis)
Week 3 - Preparation Work
Pre-preparation for overview of traditional finance theories (Efficient Market Hypothesis)
Week 4 - Theoretical
Market anomalies and market bubbles
Week 4 - Preparation Work
Pre-preparation for market anomalies and market bubbles
Week 5 - Theoretical
Expected Utility Theory and Prospect Theory
Week 5 - Preparation Work
Pre-preparation for Expected Utility Theory and Prospect Theory
Week 6 - Theoretical
Historical development of behavioral finance and its relationship with other disciplines
Week 6 - Preparation Work
Pre-preparation for historical development of behavioral finance and its relationship with other disciplines
Week 7 - Theoretical
Behavioral finance models (Representative Agent Model, DHS Model, Hong and Stein Model)
Week 7 - Preparation Work
Pre-preparation for behavioral finance models (Representative Agent Model, DHS Model, Hong and Stein Model)
Week 8 - Theoretical
Investor behaviors and biases (General concepts)
Week 8 - Preparation Work
Pre-preparation for investor behaviors and biases (General concepts)
Week 9 - Theoretical
Investor behaviors and biases (Cognitive biases)
Week 9 - Preparation Work
Pre-preparation for investor behaviors and biases (Cognitive biases)
Week 10 - Theoretical
Investor behaviors and biases (Emotional biases)
Week 10 - Preparation Work
Pre-preparation for investor behaviors and biases (Emotional biases)
Week 11 - Theoretical
Investor behaviors and biases (Social biases)
Week 11 - Preparation Work
Pre-preparation for investor behaviors and biases (Social biases)
Week 12 - Theoretical
Behavioral corporate finance-I
Week 12 - Preparation Work
Pre-preparation for behavioral corporate finance-I
Week 13 - Theoretical
Behavioral corporate finance-II
Week 13 - Preparation Work
Pre-preparation for behavioral corporate finance-II
Week 14 - Theoretical
Financial literacy and behavioral finance
Week 14 - Preparation Work
Pre-preparation for financial literacy and behavioral finance
Week 15 - Preparation Work
Week 16 - Preparation Work
Week 17 - Preparation Work
Week 18 - Preparation Work
Week 19 - Preparation Work
Week 20 - Preparation Work
Week 21 - Preparation Work
Week 22 - Preparation Work
Week 23 - Preparation Work
Week 24 - Preparation Work
Week 25 - Preparation Work
Week 26 - Preparation Work
Week 27 - Preparation Work
Week 28 - Preparation Work
Week 29 - Preparation Work
Week 30 - Preparation Work
Week 31 - Preparation Work
Week 32 - Preparation Work
Assessment Methods and Criteria
Type of AssessmentCountPercent
Assignment1%5
Quiz1%5
Midterm Examination1%30
Final Examination1%60
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory141249
Assignment1707
Quiz1707
Midterm Examination115015
Final Examination120121
TOTAL WORKLOAD (hours)99
Contribution of Learning Outcomes to Programme Outcomes
PÇ-1
PÇ-2
PÇ-3
PÇ-4
PÇ-5
PÇ-6
PÇ-7
PÇ-8
PÇ-9
PÇ-10
OÇ-1
5
5
2
4
1
2
OÇ-2
5
5
1
4
1
3
OÇ-3
5
5
1
4
2
3
OÇ-4
4
5
1
3
3
5
OÇ-5
5
5
1
4
2
5
OÇ-6
5
1
5
2
4
2
5
Adnan Menderes University - Information Package / Course Catalogue
2026