Principles of Behavioral Economics

In this English-language option, you will receive an introduction to behavioral economics. You will become familiar with the theoretical principles of this relatively new branch of economics and learn to apply them. Many economic models designed to explain economic relationships assume that individuals rationally make decisions based on economic factors. Behavioral economics challenges this assumption. In this class, you will learn about the main deviations from rational behavior evidenced in research. The key insights of behavioral economics will help you make better decisions in complex economic and everyday situations.

To be able to better explain human behavior, behavioral economics draws on insights from related disciplines such as psychology and social sciences. This interdisciplinary approach broadens your scientific horizon and you acquire basic knowledge that can also be helpful later on in your career, for example when it comes to making assumptions about what decisions consumers or competitors will make in the market.

What do you find exciting about your job/discipline?

I really enjoy teaching things that are interesting and important to me – like economics, with its very high relevance for everyday life.

What was the defining moment in your life when you knew which path you were going to take? 

With the many paths I’ve taken so far, it’s hard to say ;-)

Why are you teaching this specific option? 

This area of economics is particularly interesting and important to me (see above) – and has a particularly high relevance for everyday life!

What do you expect from your students?

They should be curious, keep their eyes open and enjoy finding things out!