Economic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior. Economists assume that individuals make rational decisions. However real people are more complex. Based on what you have learned in your assigned reading, answer the following questions in your initial post: What are the human behaviors economists should observe when creating economic models? Example: people tend to find solutions that are good enough, but not the best solutions. In your responses, comment on at least two of your peers' posts and share example of how non-rational human behavior can change an economic outcome.
Economic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior. Economists assume that individuals make rational decisions. However real people are more complex. Based on what you have learned in your assigned reading, answer the following questions in your initial post: What are the human behaviors economists should observe when creating economic models? Example: people tend to find solutions that are good enough, but not the best solutions. In your responses, comment on at least two of your peers' posts and share example of how non-rational human behavior can change an economic outcome.
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
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Economic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior.
Economists assume that individuals make rational decisions. However real people are more complex.
Based on what you have learned in your assigned reading, answer the following questions in your initial post:
What are the human behaviors economists should observe when creating economic models? Example: people tend to find solutions that are good enough, but not the best solutions.
In your responses, comment on at least two of your peers' posts and share example of how non-rational human behavior can change an economic outcome.
![Discussions List > View Topic
8-2 Discussion: Frontiers of Microeconomics
Available on Dec 3, 2022 11:59 PM. Submission restricted before availability starts.
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Economic behavior is more complex than assumed by conventional economic
theory. Political economy explains the functioning of government. Behavioral
economics ties psychology into human behavior.
Economists assume that individuals make rational decisions. However real people
are more complex.
Based on what you have learned in your assigned reading, answer the following
questions in your initial post:
• What are the human behaviors economists should observe when creating
economic models? Example: people tend to find solutions that are good
enough, but not the best solutions.
In your responses, comment on at least two of your peers' posts and share
example of how non-rational human behavior can change an economic outcome.
To complete this assignment, review the Module Eight Discussion Rubric.
Rubrics
ECO 201 Module Eight Discussion Rubric
Settings
? Help](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9af668a4-91e2-465e-9164-05aa8aba45d6%2F1c993f37-3b71-46e7-84a3-642d5d57e2b9%2Fphyktk_processed.png&w=3840&q=75)
Transcribed Image Text:Discussions List > View Topic
8-2 Discussion: Frontiers of Microeconomics
Available on Dec 3, 2022 11:59 PM. Submission restricted before availability starts.
Subscribe
Economic behavior is more complex than assumed by conventional economic
theory. Political economy explains the functioning of government. Behavioral
economics ties psychology into human behavior.
Economists assume that individuals make rational decisions. However real people
are more complex.
Based on what you have learned in your assigned reading, answer the following
questions in your initial post:
• What are the human behaviors economists should observe when creating
economic models? Example: people tend to find solutions that are good
enough, but not the best solutions.
In your responses, comment on at least two of your peers' posts and share
example of how non-rational human behavior can change an economic outcome.
To complete this assignment, review the Module Eight Discussion Rubric.
Rubrics
ECO 201 Module Eight Discussion Rubric
Settings
? Help
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