Psychology in Business and Economics

Catalog description

The goal of this course is to explore emerging themes at the intersection of psychological science, business, and behavioral economics. Psychologists are primarily interested in detecting limits to human rationality, whereas economics tends to proceed within the rational-actor model. In business, questions arise of how theoretical models and empirical findings related to the practice of managerial decision-making. Investigations of power and the psychological impact of money are relatively recent additions to the suite of research topics. New methodologies, such as neuro-imaging have led to advances not represented in the traditional framework of organizational psychology. Enrollment limited to 20 junior and senior Psychology and Behavioral Decision Making concentrators.