0 or 3 credits
Spring 2025 Lecture Upper Division
Students learn about human behavior in economic environments, with a strong emphasis on classroom laboratory exercises. Topics considered include behavior in a variety of markets - for example, markets with price controls, markets for financial assets and auction markets -- and behavior in social dilemmas that arise when people try to provide public goods voluntarily or when sellers try to conspire to fix prices. Students will also learn how people bargain with, trust each other, and show social preferences towards others. Decision-making and anomalies for risky and uncertain choices will also be covered.
Learning Outcomes1Demonstrate a basic understanding of Economics as applied to human behavior in various economic environments based on classroom laboratory exercises.
2Understand the perspective provided by economic analysis in social exchanges that involve bargaining, trust, and uncertainty.
3Identify insights experimental economics provides concerning individuals' behavior in markets.
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made by Purdue students.