Information Package / Course Catalogue
Behavioral Economics
Course Code: ECON423
Course Type: Area Elective
Couse Group: First Cycle (Bachelor's Degree)
Education Language: Turkish
Work Placement: N/A
Theory: 3
Prt.: 0
Credit: 3
Lab: 0
ECTS: 5
Objectives of the Course

The Behavioral Economics course aims to help students understand the role of psychological and social factors in economic decision-making. This course aims to help students develop more comprehensive and realistic economic models by highlighting the differences between traditional economic theories and behavioral approaches.

Course Content

Behavioral Economics course examines the role of psychological and social factors in economic decision-making. Emphasizing the differences between traditional economic theories and behavioral approaches, the course covers intuitive decision-making, choice under risk and uncertainty, time preference, strategic interaction, and neuroeconomics. Students gain the ability to develop creative solutions to economic problems using experimental and empirical methods.

Name of Lecturer(s)
Res. Assist. Sidre Gül Bige GÖCEKLİ
Learning Outcomes
1.Students will be able to explain the fundamental differences between behavioral economics and traditional economics.
2.Students will be able to accurately define the core concepts and principles of behavioral economics.
3.Students will be able to evaluate the role of cognitive biases, emotional influences, and social norms in economic decision-making
4.Students will be able to analyze how individuals make decisions under risk and uncertainty, and explain the theoretical foundations of these choices.
5.Students will be able to discuss the role and significance of psychological, social, and cultural factors in economic models.
6.Students will be able to evaluate the impact of policies on individual behavior using behavioral economics theories.
Recommended or Required Reading
1.Hatime Kamilçelebi, (2019). Davranışsal İktisat. IJOPEC Publication.
2.Peter Diamond, Hannu Vartiainen, (2016). Davranışsal İktisat ve Davranışsal İktisadın Uygulamaları. Nobel Akademik Yayıncılık
3.Utku Altunöz, Hasip Altunöz, (2019). Davranışsal Ekonomi (Nörofinans): Kavram – Teori – Uygulama. Seçkin Yayıncılık
4.Edward Cartwright, (2018). Behavioral Economics. Routledge.
5.Erik Angner, (2012). A Course in Behavioral Economics. Palgrave Macmillan.
Weekly Detailed Course Contents
Week 1 - Theoretical
Introduction to Behavioral Economics
Week 2 - Theoretical
History of Behavioral Economics
Week 3 - Theoretical
Simple Heuristics for Complex Choices: Utility vs. Search Heuristics
Week 4 - Theoretical
Simple Heuristics for Complex Choices: Choice Arbitrariness, Mental Accounting and Framing
Week 5 - Theoretical
Simple Heuristics for Complex Choices: Reference-dependent Utility, Endowment Effect, Willingness to Pay or Accept, Transaction Utility
Week 6 - Theoretical
Simple Heuristics for Complex Choices: Narrow Framing, Hedonic Editing, Choice Bracketing, and The Role of Emotions
Week 7 - Theoretical
Simple Heuristics for Complex Choices: General Review
Week 8 - Theoretical
Choice under Certainty
Week 9 - Theoretical
Decision Making under Certainty
Week 10 - Theoretical
Judgement, Decision Making and Choice under Risk and Uncertainty: Uncertainty and Risk
Week 11 - Theoretical
Judgement, Decision Making and Choice under Risk and Uncertainty: Expected Utility and Risk Attitudes
Week 12 - Theoretical
Judgement, Decision Making and Choice under Risk and Uncertainty: Framing Effects and Prospect Theory
Week 13 - Theoretical
Intertemporal Choice
Week 14 - Theoretical
Social Preferences
Assessment Methods and Criteria
Type of AssessmentCountPercent
Midterm Examination1%20
Final Examination1%60
Quiz2%20
Workload Calculation
ActivitiesCountPreparationTimeTotal Work Load (hours)
Lecture - Theory143384
Quiz24110
Midterm Examination110313
Final Examination120323
TOTAL WORKLOAD (hours)130
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
PÇ-11
PÇ-12
OÇ-1
5
4
3
3
3
2
2
4
2
3
4
4
OÇ-2
5
4
3
3
3
2
2
4
2
3
4
4
OÇ-3
5
4
3
3
4
3
2
4
2
4
5
5
OÇ-4
5
4
3
3
4
3
2
4
2
4
5
5
OÇ-5
5
4
3
3
4
2
2
4
2
4
5
5
OÇ-6
5
4
4
3
4
3
2
4
2
4
5
5
Adnan Menderes University - Information Package / Course Catalogue
2026