ECONOMICS - BMEGT30M210

The main objective of the course is twofold. First it gives an overview of the standard economic approaches and methods used in micro and macroeconomic decision making and policymaking. The refreshed concepts will be placed in a new and comprehensive framework. The second goal is to summarize the critiques of standard eco-nomic approaches which aroused form the fields of philosophy, ethics and behavioral economics.

1. the main concepts of standard and behavioral economics,
2. the solving methods and application possibilities of the comparative static and dynamic analysis, and
3. the critiques – and henceforth the consequences – of standard economics, and some new and alternative approaches in economic theory.
4. the concepts of extractive and inclusive institutions.
5. the potential consequences of a naive interventionism in a complex system.
6. the concept of the Black Swan.
7. the concepts of Extremistan and Mediocristan.
8. cognitive biases of human decision-making.
9. the concept and the methods of phishing. 1
10. the concept of SIFs

1. plan and organize independent learning,
2. comprehend and use the professional literature of the topic,
3. grasp the professional language in writing and speech,
4. recognize and solve practical professional problems.

1. are open to learn and adapt the methodology of information technology tools, and the methods of regression and time series modells.
2. Collaborate with their instructors and fellow students during the learning process,
3. gain knowledge and information,
4. are open to critical thinking.

1. are open to accept reliable critical remarks,
2. are able to solve practical professional problems independently.

Lectures and written communication, use of ICT tools and techniques.

• Az előadások prezentációinak anyaga, ami a félév során folyamatosan fog feltöltésre kerülni.
• Varian, H. R. (2012, 2016): Mikroökonómia középfokon. Akadémiai Kiadó, Budapest. (kijelölt fejezetek)
• Acemoglu, D. – Robinson, J. A. (2013): Miért buknak el nemzetek? A hatalom, a jólét és a szegénység eredete. HVG Kiadó Zrt., Budapest. (kijelölt fejezetek)
• Taleb, N. N. (2012): A Fekete Hattyú, azaz a legváratlanabb hatás. Gondolat Kiadói Kör, Budapest. (kijelölt fejezetek)
• Thaler, R. H. (2016): Rendbontók. A viselkedési közgazdaságtan térnyerése. HVG Kiadó Zrt. Budapest.
• Kahneman, D. (2013): Gyors és lassú gondolkodás. HVG könyvek, Budapest.
• Akerlof, G. A. – Shiller, R. J. (2016): Balekhalászat - A manipuláció és az átverés köz-gazdaságtana. HVG Kiadó Zrt., Budapest.
• Slideshows of the lectures which will be uploaded continuously during the semester.
• Varian, H. R. (2010): Intermediate Microeconomics. W. W. Norton & Company, New York. (selected chapters)
• Acemoglu, D. – Robinson, J. A. (2012): Why Nations Fail - The Origins of Power, Prosperity and Poverty. Crown Business, New York. (selected chapters)
• Taleb, N. N. (2010): The Black Swan: The Impact of the Highly Improbable. Penguin Books, London. (selected chapters)
• Thaler, R. H. (2015): Misbehaving: The Making of Behavioral Economics.
• Kahneman, D. (2011): Thinking Fast and Slow. Penguin Books, London.
• Akerlof, G. A. – Shiller, R. J. (2015): Phishing for Phools: The Economics of Manipula-tion and Deception. Princeton University Press, New Jersey.

Assessment of the learning outcomes described under 2.2. is based on two written mid-term tests.

A. Detailed description of assesments during the term: 1. Written mid-term tests: on the 8th and 13th week, 60 minutes, respectively. Both will be multiple choice tests.

• mid-term test on the 8th week : 50%
• mid-term test on the 13th week: 50%

1) The mid-term tests of the weeks 8th and 13th can be retaken on week 14th (free of charge) and the delayed completion period (upon payment of an extra fee).

Consulted with the Faculty Student Representative Committee, approved by dr. Lógó Emma, Vice Dean for Education. Valid from 11. 02. 2020.

Subject includes the topics detailed in the course syllabus to ensure learning outcomes listed under 2.2. can be achieved. Timing of the topics may be affected by calendar or other circumstances in each semester.

art I-III of the Subject Form is to be approved by the Head of Department of Economics named under 1.8.