Kiana Yektansani

Examines behavioral economics, which seeks to insert more behavioral realism into economic theory by incorporating into economic models insights based on empirical observations from psychology, sociology, and neuroscience. Emphasizes attempts by behavioral economists to explain anomalies that depart from the predictions of standard economic theory. Topics include temptation and self-control, fairness and reciprocity, reference dependence, bounded rationality and choice under risk and uncertainty.

The course uses a policy-oriented approach to study some of the major environmental and natural resource issues. We use economic theory and empirical work from the field to understand the causes and consequences of these issues and explore how economics can provide potential solutions. Some of the topics covered include: the problem of externalities and property rights, static and dynamic efficiency, depletable resource allocation, recycling resources, fishery, forestry, and climate change. Students will leave the course with a global perspective of both environmental and natural resource economics and how they interact. Various techniques in Excel for general calculations, optimization, present value analysis, regression, and graphs are taught and used in the course. No previous knowledge of excel is required.

The course utilizes economic tools such as supply and demand, elasticity, cost-benefit analysis, and models of perfect competition, monopoly, and monopolistic competition to support managerial decision-making. Real-world examples and case studies include topics in welfare, globalization, artificial intelligence and cost minimization, product differentiation, collusion, game theory, markup pricing, price discrimination, bundling, and predatory pricing. Various techniques in Excel for general calculations, optimization, present value analysis, regression, and graphing are taught and used in the course.