| Course ID: | FHCE 4270E/6270E. 3 hours. |
| Course Title: | Behavioral Economics and Financial Planning for Families |
Course
Description: | The financial planning decisions of families from the
perspective of behavioral economics. Behavioral economic models
are applied to examine how families manage or mismanage their
finances. Students in this class will explore these issues
through assigned readings, case studies, exams, and homework
assignments. |
| Oasis Title: | Behav Econ Finan Plan for Fam |
| Duplicate Credit: | Not open to students with credit in FHCE 4270 or FHCE 6270 |
| Nontraditional Format: | This course will be taught 95% or more online. |
Semester Course
Offered: | Offered summer semester every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | Upon completion of this course, students should be able to do
the following:
• Demonstrate an understanding of the emerging field of
behavioral economics
• Explain examples that illustrate how behavioral economics
is currently being applied in the financial planning profession
• Explain how behavioral economics is currently being applied
in current policies directed at improving the financial
capabilities of households
• Use behavioral economic principles to evaluate and
understand the common cognitive errors that individuals make
in financial planning |
| Topical Outline: | 1. Introduction to Behavioral Economics
2. Prospect Theory
3. Procrastination and Self-control
4. Risk Tolerance
5. Time Preference and Irrational Behavior
6. Financial Literacy and Education
7. Household Investment Decisions
8. Neurofinance
9. The Psychology of Trading and Investing
10. Ethics and Dishonesty in Financial Markets |