level of course unit
first cycle, Bachelor
Learning outcomes of course unit
be familiar with important behavioristic approaches in market analysis;
be able to reflect on empirically collected (suboptimal) data regarding the behavior of actors on the financial market against the backdrop of micro and macroeconomic theoretical approaches.
prerequisites and co-requisites
This course is an introduction to Behavioural Economics focusing on behavioral finance. It combines an overview of the literature with group experiments to illustrate the differences between neoclassical and behavioristic paradigms.
Because the course will focus on behavioral finance, students will examine suboptimal behavior of actors on the financial market.
recommended or required reading
Belsky, G. u. T. Gilovich: Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the New Science of Behavioral Economics. New York, 1999.
Kagel, J.H., Roth, A.E. (Hrsg.): Handbook of Experimental Economics. Princeton, 1995.
Shiller, R.: Irrational Exuberance. New York, 2001.
Shleifer, A.: Inefficient Markets. An Introduction to Behavioural Finance. Oxford, 2000.
Thaler, R.H. (Hrsg.): Advances in Behavioural Finance. New York, 1993.
Thaler, R.H.: The Winner´s Curse. Paradoxes and Anomalies of Economic Life. Princeton, 1994.
assessment methods and criteria
Written exam and/or scientific paper and/or presenta
language of instruction
number of ECTS credits allocated
planned learning activities and teaching methods
Lecture, group work, presentation and task discussion
semester/trimester when the course unit is delivered
name of lecturer(s)
Prof. (FH) Brent Kigner, PhD
year of study
recommended optional program components
course unit code
type of course unit
mode of delivery