Economics is built on the premise that humans act rationally, but everyone behaves irrationally some of the time. Is it possible that human irrationality nullifies economic theory? Join Professor Antony Davies of Duquesne University and Erika Davies of George Mason University as they take you on a crash course of behavioral economics, discussing topics like rational choice, heuristics, nudging, and public choice economics.
Looking for engaging content for your economics courses? The Institute for Humane Studies has curated this collection of educational resources to help economics professors enrich their curriculum. Find videos, interactive games, reading lists, and more on everything from opportunity costs to trade policy. This collection is updated frequently with new content, so watch this space!
Game theory enables rational insight into the basic principles of social interaction and has therefore become indispensable for economic and social sciences. Whether in politics, sports or medicine, modelling problems as a strategic game helps in decision-making in a variety of fields. With lecture snippets of Reinhard Selten, Robert Aumann and Alvin Roth, this Mini Lecture introduces to the mathematical beginnings of game theory, its socioscientific development and entrepreneurial integration.
Inferring and Explaining is a book in practical epistemology. It examines the notion of evidence and assumes that good evidence is the essence of rational thinking. Evidence is the cornerstone of the natural, social, and behavioral sciences. But it is equally central to almost all academic pursuits and, perhaps most importantly, to the basic need to live an intelligent and reflective life.
This is an introductory course in Microeconomics. This course aims to introduce students to the basic concepts of microeconomics such as scarcity and choice, and their influences in the decision-making process of individual consumers, firms, and governmental entities. Economics involves all types of decisions. This class will help you understand how different actors, business, households, non-profits and government institutions act. You will realize that this class helps you to put in economic terms the many daily decisions you make about how you allocate your resources. You choose daily what products to buy, businesses decide what products they produce and how many and what services they offer. This class will give you the structure you will need to make decisions more rationally, improving the way you utilize the limited resources that you have at hand.
Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice.
The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises.
With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.
Throughout this book, the pronouns she/her are used.
A short quiz on CCSS.ELA-Literacy.9-10.RI.8. The text is from Eliezer Yudkowsky's blog post, "How to Actually Change Your Mind". The Dale-Chall text complexity level is 7-8, and the Flesch-Kincaid is 8.6.