Master of Commerce (M.Com.) Behavioral Economics Syllabus - Mumbai University 2026

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Syllabus for Behavioral Economics

Elective course · Semester 1 · M.Com. Business Economics · 4 credits

Module I: Introduction, Human Decision Making & Preferences (2 CREDITS)

Unit 1 Introduction History and evolution of behavioral economics - Scope and importance of behavioral economics;Methodology of behavioral economics - behavioral vs. neoclassical economics; Psychology and decision making; behavioral economics in consumer behavior analysis; behavioral economics and gender differences
Unit 2 Human Decision Making & Preferences Preferences, Choices and Decision Making; Heuristics and Biases in Decision Making;
Risk Preferences-Prospect theory

Module II: Behavioral Game theory, Social Preferences & Neuroeconomics(2 CREDITS)

Unit 1 Behavioral Game Theory Strategic interaction in behavioral game theory; Nature, equilibrium, mixed strategies, bargaining; Iterated games, signaling, and learning.
Unit 2 Social Preferences & Neuroeconomics Social Preferences in behavioral economics; Altruism; Fairness; Reciprocity;
Neuroeconomics

References

1 Rajv Sethi, “Behavioral Economics: A Beginner’s Guide”, Penguin Random house, 2020.
2 Morris, A, “Contemporary Behavioral Economics: Foundations and Developments”, M E Sharpe, 2006.
3 David, J. R., “Introduction to Behavioral Economics”, Wiley, 2014.
4 Dan Ariely, “Predictably Irrational: The Hidden Forces That Shape Our Decisions”, HarperCollins Publishers, 2008.
5 Erik, A, "A Course in Behavioral Economics”, Palgrave Macmillan, 2012
6 Richard Thaler, “Advances in Behavioral Finance”, Princeton University Press, 2005.
7 Colin F. Camerer, “Behavioral Game Theory: Experiments in Strategic Interaction”,Princeton University Press, 2003.
8 Michalis Drouvelis, Social Preferences: An Introduction to Behavioral Economics and Experimental Research”,Agenda Publishing, 2021.
9 Peter, D &Variainen, “Behavioral Economics and its applications”, PUP, 2007 .
10 Wilkinson N and Hales M, “An Introduction to Behavioral Economics”, Palgrave, 2012.

Reproduced from the University of Mumbai syllabus for M.Com. (Business Economics) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

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