Assignment
Our goal in this assignment is exposure to principles in Behavioral Economics. We will continue to apply these principles in upcoming chapters this quarter.
Step 1: Brainstorm
Before you begin your assignment, I would like you to consider a "hard problem" - a challenge we face as a society or a community with no obvious or single-faceted solution. Examples include the alleviation of poverty, costs of higher education, rising costs of healthcare, diminished sense of community and belonging in many areas of the U.S., etc.
You may pick a topic that is meaningful to you, but be sure you enter into this assignment with an open mind so you can consider new ways of thinking.
- Topic I pick: is the costs of higher education really worth it
Step 2: What is Behavioral Economics?
Read this website overview.
• Here is another option as well.
Listen to ONE of these podcasts from Freakonomics in entirety:
• How to change your mind.
• Solving human problems.
Step 3: Write a response paper
Your response paper should be at least two pages long and should address the following:
• How is behavioral economics different than traditional economics?
• How does psychology contribute to behavioral economics?
• Introduce the problem you are considering for the purpose of your response paper. Describe the problem objectively, without inserting your own values. If there are multiple viewpoints to consider, describe them as well.
• Could principles from behavioral economics be applied to improving or solving this problem? Describe two applications of behavioral economics.
• What is the limitation of applying principles of behavioral economics to any big problem?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Attachment:- Eebsite-Overview.rar