Experimental Economics

Have you ever wondered why people buy bottled water when tap water is just as good? Or why families in Africa typically have many more children, while in wealthier societies like Japan the birthrate is so low. Or why athletes and entertainers get paid so much, while teachers and nurses get paid so little? In this course, you’ll learn that economics is about much more than money, the stock market, unemployment and inflation. It’s about how and why people make the decisions they do. Economists know that we can’t have it all, so we’re constantly facing choices. Study or play outside? Learn piano or guitar? Take a European vacation or buy a new car? In this course, we will use simulations, games, experiments and current events to learn and apply the economic way of thinking. At the end of two weeks, student economists will be experts in analyzing the problem of scarcity and applying it to current economic issues, as well as to their own decision-making processes.