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1
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13.03.2017 |
1.Understanding Human Behaviour – Neoclassical Economics Part 1
Mo, 13.03.2017
Video Lecturecast
Dr. Stagl lecturecast on Elsner Chapter 5 & utility function and individual choice
Reading
[C] Gowdy, J. M. (2009). Microeconomic Theory Old and New: A Student's Guide, Stanford University Press.
or
[C] Elsner, W., et al. (2015). Chapter 5 - The Ideal Neoclassical Market and General Equilibrium & Chapter 6 - Critiques of the Neoclassical “Perfect Market” Economy and Alternative Price Theories. The Microeconomics of Complex Economies. San Diego, Academic Press: 97-155.
In class activity 1 – Discuss Inverted Classroom Method used in this class with clicker. (20 min.) BYOD
In class activity 2 – After introduction of Neoclassical Economics and discussion of concepts from neoclassical economics (utility function and individual choice), do a standard economics price experiment to develop a demand curve by auctioning gummy bears and using software to graph demand curve. Explain supply & demand curves. (1 hour)
In class activity 3 -- Discussion the following axioms in 4 groups. Is it true for society? Is it true for your group? Why or Why not?
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2
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14.03.2017 |
2. Neoclassical Economics Part 2 (Income Inequality) Tue, 14.03.2017
Video Lecture: Thomas Piketty speaks at Yale Law School - A concise presentation of his central theses with focus on US and European economies. (1 hour and 10 minutes) You can skip the first 4-5 minute intro.
https://www.law.yale.edu/yls-today/yale-law-school-videos/thomas-piketty-capital-21st-century
Task: Check out World Wealth and Income Database, launched January 2017. Pick one or two countries and look at and interpret the data. http://wid.world/
Reading
[C] McCloskey, D. Growth, Not Forced Equality, Saves the Poor, New York Times, Dec. 23, 2016 https://www.nytimes.com/2016/12/23/business/growth-not-forced-equality-saves-the-poor.html?_r=0
[A] Colander, D. (2000). "The death of neoclassical economics." Journal of the History of Economic Thought 22(2): 127-143.
[A] Friedman, M. (1953). On the methodology of positive economics. Essays in Positive Economics. M. Friedman. Chicago, University of Chicago Press: 3-43.
In class activity 1 – Neoclassical Economics (1 hour)
Group discussion. Piketty works within a neoclassical economics framework. Which neoclassical theories does his work reinforce and/or challenge?
20 min. break
In class activity 2 – Inequality (1 hour)
Discussion and Debate Thomas Piketty’s proposal for a higher wealth tax with prepared list of Pros and Cons. Form two groups. For and against the motion ‘Piketty’s wealth tax is a solution to inequality’. Each group has 40 minutes to discuss the reading and videos and craft arguments. 20 minutes to present arguments. Feel free to use WID website in your arguments. Judgement by anonymous Instant Poll – 15 min. BYOD
In class activity 3 -- Philosophy of neoclassical economics (40min.)
Group discussion: What is the ontology, epistemology and methodology of neoclassical economics? Intro to philosophy of science Q&A online at Mylearn. |
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3
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16.03.2017 |
3. Behavioural Economics Part 1 Thu, 16.03.2017
Video Lectures for Part 1& 2
1. Talks at Google, Richard Thaler lecture, “The Behaviorializing of Economics: Why Did It Take So Long?” (approx. 50 minutes) -- https://www.socialeurope.eu/2015/12/the-behavioralizing-of-economics-why-did-it-take-so-long/ Description of video: It links behavioral economics’ roots to neoclassical economics. Introduces Thaler’s 2015 book Misbehaving: The Making of Behavioural Economics.
1. National Academy of Science Sackler Colloquia, Daniel Kahneman lecture, ‘Thinking that we Know’ (46 minutes, if you have read Thinking Fast and Slow, then you can skip through) https://www.youtube.com/watch?v=di6kl4ViWgk Description of video: Kahneman discusses psychological vs ‘scientific / academic’ ways of knowing. How the brain perceives and biases information relevant to validity.
Reading for Part 1 & 2
[C] Thaler, Richard H. Misbehaving: The making of behavioral economics. WW Norton & Company, 2015 (chapters 3-13 and 31)
Or
[C] Kahneman, Daniel. Thinking, fast and slow. Macmillan, 2011. (Chapters 26-31)
Or
[A] Ariely, Dan. Predictably Irrational, Revised and Expanded Edition: The Hidden Forces That Shape Our Decisions. 2010
In class activity 1 (1hour)
Dr. Stagl leads discussion on the effects of framing. Then we conduct an experiment with anonymous online response. BYOD
In class activity 2 (45 min. discussion)
Discussion - What is the ontology, epistemology and methodology of behavioural economics?
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4
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20.03.2017 |
4. Behavioural Economics & Freedom Part 2 Mon, 20.03.2017
Group work and presentation – In class activity 1 – Learning by teaching. Groups of 2-3 students teach key elements of behavioural economics: (10 min. /group 2 min. transition)
Group 1 – Heuristics
Group 2 – Thinking Fast
Group 3 – Thinking Slow
Group 4 – Value Theory
Group 5 – Loss Aversion
Group 6 – Endowment Theory
Group 7 – Prospect Theory
Group 8 – Nudge & Choice Architecture
Group 9 – Wrap up Main Lessons of Behavioural Economics
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5
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21.03.2017 |
5. Experimental Economics Part 1 Tue, 21.03.2017
Reading for Classes 4 & 5
[C] Binmore, K., 1999. Why experiments in economics. Economic Journal 109: F16‐24.
[C] Charness, G. and Fehr, E. 2015 'From the lab to the real world', Science 350(6260): 512-513.
[C] Henrich, J., et al. (2001). "In search of homo economicus: behavioral experiments in 15 small-scale societies." AEA Papers And Proceedings 91(2): 73-78.
[C] Charness, G., Gneezy, U. and Kuhn, M. A. 2013 'Experimental methods: Extra-laboratory experiments-extending the reach of experimental economics', Journal of Economic Behavior & Organization 91: 93-100.
[A] Charness, G., Rabin, M., 2002. Understanding social preferences with simple tests. Quarterly Journal of Economics, 117: 817‐869.
[A] Harrison, G.W. and List, J.A. (2004). Field Experiments. Journal of Economic Literature 42:1013‐59.
[A] Loewenstein, G. (1999). Experimental economics from the vantage‐point of behavioral economics. Economic Journal 109: 25‐34.
[A] Hodgson, G. M. (2012). "On the Limits of Rational Choice Theory." Economic Thought 1: 94-108.
In class lecture. Dr. Stagl review and explains the purpose and design of behavioural economic experiments with Q&A. (1 hour min.)
In class activity 1 Ultimatum Game - Conduct behavioral economics experiments as a group. (1 hour)
In class activity2 Form groups to come up with topics for Saturday Experimental Economics Workshop and get feedback (30 min.)
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6
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25.03.2017 |
Workshop to design and run behavioural economics experiments in class Workshop Agenda: Each group has 1 hour to plan and 1 hour to run an experiment. The third hour is for the groups to alternate as subjects of the experiments. - Groups meet to plan and prepare for experiment (1 hour) - 30 min break - 1hr to run and report experiment 1 - 1hr to run report experiment 2
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7
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27.03.2017 |
7. Library Research for SEEP Masters Mon, 27. 03
Run by Library Staff, this 90 minute workshop focuses on SEEP-relevant literature searching: • Overview of the information resources available (focus on databases) • Tips for efficient literature searches (searching strategies, alerts, etc.) • Known item searches (books and journal articles, with a focus on online resources) • Web searches • Introduction to reference management
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8
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28.03.2017 |
8. Complexity Economics Tue, 28. 03 2017
Video Lecture
Dr. Stagl video lecture
Reading
[C] Elsner, W., et al. (2015). Chapter 12 – Themes of Complexity in the History of Economic Thought: Glimpses at A. Smith, T.B. Veblen, J.A. Schumpeter and Others. The Microeconomics of Complex Economies. San Diego, Academic Press: 307-356.
[A] Elsner, W., et al. (2015). Chapter 18 - How to Deal with Knowledge of Complexity Microeconomics: Theories, Empirics, Applications, and Actions*. The Microeconomics of Complex Economies. San Diego, Academic Press: 529-551.
In class Activity 1 A Classroom Investment Coordination Experiment. Players represent firms that make investment decisions. https://economics-games.com/games
In class Activity 2 – In groups, list key factors of complexity economics that are antithetical to neoclassical economics. Discuss definition of complexity economics.
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9
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30.03.2017 |
9. Evolutionary & Institutional Economics Part 1 Thurs, 30.03.2017
Video Lecture
Prof. Kurt Dopfer on Evolutionary Economics
Reading
[C] Hodgson, G. M. (2012). From Pleasure Machines to Moral Communities - An Evolutionary Economics without Homo economicus. Chicago and London, The University of Chicago Press.
[C] Elsner, W., et al. (2015). Chapter 13 – Recent Core Models of Complexity Microeconomics. The Microeconomics of Complex Economies. San Diego, Academic Press: 363-416.
[A] Dopfer, K. (2011). Evolution and complexity in economics revisited. No. 1102. Papers on economics and evolution.
Assignment - Complete the Philosophy of Science Q&A Part 1 on MyLearn
In class activity 1 Fishbowl using online forum. BYOD The questions are:
(1) What can we learn from evolutionary theory about human behavior?
(2) What are the limits of Darwinism in explaining societal change?
In class activity 2 Groups draw a graphic for evolutionary growth model (Nelson and Winter) page 388 in Elsner.
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10
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03.04.2017 |
10. Evolutionary & Institutional Economics Part 2 Mon, 03.04.2017
Video Lecture
1. Dr. Stagl video lecture
[C] Hodgson, G. M. (2013). "Understanding Organizational Evolution: Toward a Research Agenda using Generalized Darwinism." Organization Studies 34(7): 973-992.
[A] Festré, Agnès, Odile Lakomski-Laguerre, and Stéphane Longuet. "Schumpeter and Schumpeterians on economic policy issues: re-reading Schumpeter through the lens of institutional and behavioral economics. An introduction to the special issue." Journal of Evolutionary Economics 27.1 (2017): 3-24.
[A] Wäckerle, M. (2013). The Foundations of Evolutionary Institutional Economics: Generic Institutionalism. London, Routledg
In class activity 1 – Define ‘routine’ with an example. What is the role of routines in organizational change? Contrast routines with habits, conventions and rules.
In class activity 2 – Debate for and against the statement. ‘Agency helps us understand the creation of markets’ First define ‘Agency’ as a group. Team A and B hold formal debate. Team C anonymously votes with online poll. BYOD
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11
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04.04.2017 |
11. Theory of Planned Behaviour Part 1 Tue, 04.04.2017
Video Lecture
1. Dr. Stagl video lecture on theory of planned behaviour
2. Optional short videos Theory of Planned Behavior. Both videos are less than 5 minutes.
3. https://www.youtube.com/watch?v=nZsxuD3gExE
4. https://www.youtube.com/watch?v=DFn-IOcpd8A
Reading for Part 1 & 2
[C] Ajzen, I. (2012). The theory of planned behavior. Handbook of theories of social psychology (Vol. 1). P. A. M. Lange, A. W. Kruglanski and E. T. Higgins. London, Sage: 438-459.
[A] Martin Fishbein, I. A. (2010). Predicting and Changing Behavior: The Reasoned Action Approach. London, Routledge.
[A] Ajzen, I., & Klobas, J. (2013). Fertility intentions: An approach based on the theory of planned behavior. Demographic Research, 29(8), 203-232.
[A] Ajzen, I. (2012). Job satisfaction, effort, and performance: A reasoned action perspective. Contemporary Economics, 5(4), 32-43
In class activity 1 – What topics are suitable for TPB and what topics are not? Which topics do you propose for the group work? Form groups with Idea Exchange
In class activity 2 – Group work starts – use TPB formula to ‘sketch out’ chosen topic. Present to the class.
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12
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02.05.2017 |
12. Theory of Planned Behaviour Part 2 Tue, 02.05.2017
Task - http://people.umass.edu/aizen/tpb.html Check out for guidance on your survey.
Optional Task -- Use the Q&A Wiki to post your questions and comment on questions from others. What do you need more help with (concepts not clear?) Include interconnections between theories from this class or even other courses. Questions will be collected and answered by Dr. Stagl at next class.
In class Activity 1 - Group Work 2 -- Each of the 5 groups has 25 minutes to present and discuss their TPB survey. Turn in group report (2-5 pages).
In class Activity 2 – Review and discuss Q&A Part 1.
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13
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16.05.2017 |
13. Capability Approach Tue, 16.05.2017
Video Lecture
1. Watch Ingrid Robeyns discuss the capability approach as a framework for social movements, focus on social inequality. (30 min.) https://www.youtube.com/watch?v=Lq6Vdm7u1bA
Reading
[C] Robeyns, I. (2005). "The Capability Approach: a theoretical survey." Journal of Human Development 6(1): 93-117.
[A] Sen, A. (1985). Commodities and Capabilities. Amsterdam, Elsevier.
In class activity 1- In groups, discuss the UN Sustainable Development Goals and the human capability approach. First, consider one goal from the point of view of neoclassical economics. Second, consider the same goal from the point of view of the capability approach. How would the goal be stated? Who are the actors? How to measure? Use UN website https://sustainabledevelopment.un.org/?menu=1300
In class activity 2 – Q&A Wiki questions are answered by Dr. Stagl.
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14
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23.05.2017 |
14. Practice Theory Tue, 23.05.2017
Video Lecturecast
Dr. Stagl video lecture on practice theory
Reading
[C] Yolande Strengers, C. M., Ed. (2015). Social Practices, Intervention and Sustainability: Beyond behaviour change. London, Routledge. Chapters 1-3)
[A] Reckwitz, A. (2002). "Toward a Theory of Social Practices: A Development in Culturalist Theorizing." European Journal of Social Theory 5(2): 243-263.
[A] Røpke, I. (2009). "Theories of practice - New inspiration for ecological economic studies on consumption." Ecological Economics 68(10): 2490-2497.
Assignment - Complete the Philosophy of Science Q&A Part 2 on MyLearn
In class activity 1 – Jigsaw. 7 small groups write one segment of a joint review of one article. The morning group does Chapter 2. The afternoon groups does Chapter 3. The review is written on ‘jigsaw puzzle pieces’. (1 hour and 15 minutes).
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15
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30.05.2017 |
15. Behavioural Foundations of Public Policy Part 1 Tue, 30.05.2017
Video Lectures
Dr. Stagl video lecture
Reading
[C] Saugato, D., et.Al. (2015). “A Behavioral Approach to Water Conservation: Evidence from a Randomized Evaluation in Costa Rica.” Ideas24. http://www.ideas42.org/wp-content/uploads/2015/04/Belen-Paper-Final.pdf
[C] Raj Chetty, 2015. "Behavioral Economics and Public Policy: A Pragmatic Perspective," American Economic Review, American Economic Association, vol. 105(5), pages 1-33, May. http://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.p20151108
In class activity 1 Debate. For and Against the Chetty’s thesis ‘the decision to include behavioral factors in economic models should be viewed as a pragmatic rather than philosophical choice’ (1 hour 15 min.)
In class activity 2 – Review and discuss Q&A Part 2
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16
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08.06.2017 |
16. Behavioural Foundations of Public Policy 2 Thurs, 08.06.2017
Video Lecture
1. London School of Economics, Caroline Webb lecture, ‘How to Have a Good Day’ (first 42 minutes without Q&A is enough)
2. Prof. Robyn Eckersley from the University of Melbourne about Reforming Environmental Governance at Oslo Sustainability Summit 2009. Very short (3 min.) discussion of framing the role/identity of the individual and its link to climate policy. https://www.youtube.com/watch?v=HRnqtzYpQug
Reading
The following 3 articles are for reading and discussion in class.
“An Ounce of Hope is Worth a Ton of Despair” by George Monbiot in The Guardian on 16 June 2014. http://www.monbiot.com/2014/06/16/an-ounce-of-hope-is-worth-a-ton-of-despair/
„Behavioural economics and public policy“, by Tim Harford, FT 21 March 2014
http://www.ft.com/cms/s/2/9d7d31a4-aea8-11e3-aaa6-00144feab7de.html
Ten things we learnt about behaviour change and sustainability“, Guardian 9 April 2014 http://www.theguardian.com/sustainable-business/behavioural-insights/behaviour-change-sustainability-debate
In-class lecture: Dr. Stagl: Conclusions, criticisms, pragmatism, the future of BE and goals of ecological economics (1 hour)
In class activity 1 - Discuss one of the articles in 3 groups. Which philosophical position and problem framing has the author chosen? Theories? What is your evaluation of this article?
In class activity 2 - Think-pair-share. After watching the LSE Public lecture by Caroline Webb: How can behavioural economics help you personally to have a good day?
In class activity 3- Course Survey
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